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Vermont Gas announces rate cut

SOUTH BURLINGTON, Vt. (AP) -- Vermont Gas has announced a rate cut that it says will benefit both residential and business customers.

The company said Monday that the Vermont Public Service Board has approved a nearly 6 percent rate reduction, which went into effect on Friday. It says the rate reduction comes as a result of lower Canadian transmission costs.

Vermont Gas serves nearly 50,000 customers in Chittenden and Franklin counties.

The company says the reduction in the cost for natural gas will result in prices that are nearly 44 percent less than fuel oil and 54 percent lower than propane.