Vermont only gets 1/3 of its power from VY. VY is located in a corner of the state, across the river from New Hampshire and very close to Massachusetts. So it sells its power near-by, to neighboring states. Vermont gets another 1/3 of its power from HydroQuebec. IMHO, we haven't done a particularly bang-up job of negotiating with them. As a matter of fact, there's a big controversy right now about one of the distribution utilities had to be bailed out after a bad deal with HQ, the ratepayers bailed them out, with the proviso that the money had to be returned if the utility was sold. It's being sold, and guess what? It doesn't want to give the money back to the ratepayers. I know you are deeply shocked. ;-) Anyhow, the whole thing started with over-paying HydroQuebec. And then we get about 8-10% of our power from in-state hydro, and the rest from the grid. In other words, VY helps keep our power rates low, but doesn't fully determine them. VY makes about 70-80% of the power Vermont would need, but not all VY power goes to Vermont.
Okay. I just said power rates were low and you said they were high. We are both right! Vermont power rates are the lowest in New England, but New England is the most expensive region. So, compared to everyone else in the region (who are buying VY power and fossil power and Seabrook power etc)...we are actually doing well, cost-wise.