SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED):
JANUARY 5, 2001
GREEN MOUNTAIN POWER CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
VERMONT 03-0127430
(STATE OR OTHER JURISDICTION OF INCORPORATION) (I.R.S.
EMPLOYER IDENTIFICATION NUMBER)
1-8291
COMMISSION FILE NUMBER
163 ACORN LANE,
COLCHESTER, VERMONT 05446
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
(ZIP CODE)
(802) 864-5731
(REGISTRANT'S TELEPHONE NUMBER,
INCLUDING AREA CODE)
Item 5. Other Events-Announcement of Strike and Mediation Efforts
Green Mountain Power Corporation (NYSE: GMP) announced Friday that it will
continue mediation with Local 300 of the International Brotherhood of Electrical
Workers, which began a strike Thursday night.
"We have told the union that we will meet Jan. 10 and 11, as well as Jan.
15 and 16 with the federal mediator to continue negotiations. We continue to
believe that the issues that are dividing us can be overcome," said Dorothy
Schnure, spokesperson for Green Mountain Power.
The Company's 101 unionized employees officially went on strike Thursday
night. Both sides have agreed that a major point of contention is the Company's
proposal to make a modest change in its union contract creating two "trouble
call" crews. Under the Company proposal, the crews would select an eight-hour
shift between 12:30 p.m. and midnight, with premium pay for all eight hours.
Currently, lineworkers work a 7 a.m. to 3:30 p.m. shift. This would add maximum
flexibility for personal needs.
"The more flexible work hours are an important way we can improve our
responsiveness to customer trouble calls, which often occur after 3:30 p.m. Our
customers are expecting faster restoration service in late afternoon and early
evening hours," said Ms. Schnure. "We recognize that change can be difficult for
employees, but our customers' needs are changing and we must find ways to
provide the level of service they expect. Our offer to the union provided
flexibility and increased benefits to recognize the need to change the
traditional work schedule for four of their workers."
The Company is also offering the union a three-year contract with a three
percent wage increase per year, the ability for an employee to retire with full
benefits at age 59, and a significant reduction in the early retirement
penalties.
In addition, the Company is offering three extra vacation days at 20 years
of employment, and to continue to pay at least 90 percent of a very
comprehensive medical (including dental, vision and prescription) plan. "We
stand ready and eager to mediate our final proposal," said Ms. Schnure.
Meanwhile, the Company's non-union employees as well as other
reinforcements are continuing to answer phones, read meters and respond to
trouble calls. "We are used to gearing up to respond to large storms, and if
necessary, we have resources available to respond to the vagaries of Vermont's
weather," said Ms. Schnure.
In the past two years, the Company has embarked on a major campaign to
provide more efficient customer service by using new technologies and equipping
its reduced workforce with new skills. The proposed changes in the union work
rules is one of the latest strategies to improve customer service and
satisfaction.
The Company will continue to report on new developments as they occur.
For further information, please contact Dorothy Schnure, Manager, Corporate
Communications for Green Mountain Power at 802-655-8418 or 802-482-2503 after
6:00 p.m.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) and (b) --not applicable
(c) Exhibits--not applicable
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly cased this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GREEN MOUNTAIN POWER CORPORATION
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Registrant
By /s/Nancy Rowden Brock
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NANCY ROWDEN BROCK, VICE PRESIDENT, CHIEF FINANCIAL OFFICER, TREASURER AND
CORPORATE SECRETARY
BY /s/ROBERT J. GRIFFIN
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ROBERT J. GRIFFIN, CONTROLLER
DATED: January 5, 2001
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