Oxford Renegotiates Power Plant Contract: Report

OXFORD, CT — With an eye toward increasing tax revenue for the town, the Oxford Board of Selectmen Tuesday unanimously approved a renegotiated contract with CPV Towantic, operators of the controversial new 785-megawatt power plant in town.

Under the new pact, the town will receive $117.6 million over 22 years from CPV, reports the Waterbury Republican-American. Though the selectmen approved the deal, final approval of the renegotiated contract lies in the hands of Oxford voters at a special meeting on Monday, May 1, at 6 p.m. at Quaker Farms School.

The new deal replaces one from several years ago, which called for less money to the town because the project was smaller. Oxford officials say the new agreement could lead to an 8 percent tax cut, or two mills reduction, next year.

Click here to read the full story on the Republican-American website.

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