SEGMENT REPORTING

12 Months Ended

Dec. 31, 2011

SEGMENT REPORTING [Abstract]

SEGMENT REPORTING

NOTE 20- SEGMENT REPORTING

Our reportable operating segments include:  Central Vermont Public Service Corporation (“CV - VT”), represents our principal utility operations, which engages in the purchase, production, transmission, distribution and sale of electricity in Vermont.  East Barnet is included with CV- VT in the table below.  Other Companies represents our non-utility operations and consists of CRC, and C.V. Realty, Inc.  CRC was formed to hold our subsidiaries that invest in unregulated business opportunities and is the parent company of SmartEnergy Water Heating Services, Inc., which engages in the sale and rental of electric water heaters in Vermont and New Hampshire.  C.V. Realty, Inc. is a real estate company whose purpose is to own, acquire, buy, sell and lease real and personal property and interests.

The accounting policies of operating segments are the same as those described in Note 2 - Summary of Significant Accounting Policies.  All segment operations are managed centrally by CV - VT.  Segment profit or loss is based on net income.  Other Companies are below the quantitative thresholds individually and in the aggregate.

					Reclassification
			Other		and Consolidating
2011	CV VT		Companies		Entries			Consolidated
Revenues from external customers	$	359,734	$	1,696	$	(1,696	)	$	359,734
Depreciation and amortization (a)	$	15,450	$	223	$	(223	)	$	15,450
Operating income tax expense	$	5,167	$	118	$	(118	)	$	5,167
Equity in earnings of affiliates	$	27,733	$	0	$	0		$	27,733
Interest income (b)	$	64	$	2	$	0		$	66
Interest expense	$	13,652	$	0	$	0		$	13,652
Net income	$	5,531	$	173	$	0		$	5,704
Investments in affiliates	$	179,974	$	0	$	0		$	179,974
Total assets	$	773,557	$	2,949	$	(241	)	$	776,265
Construction and plant expenditures (c)	$	41,129	$	360	$	0		$	41,489

2010
Revenues from external customers	$	341,925	$	1,731		$	(1,731	)	$	341,925
Depreciation and amortization (a)	$	15,038	$	189		$	(189	)	$	15,038
Operating income tax expense	$	7,545	$	278		$	(278	)	$	7,545
Equity in earnings of affiliates	$	21,098	$	0		$	0		$	21,098
Interest income (b)	$	183	$	2		$	0		$	185
Interest expense	$	11,560	$	0		$	0		$	11,560
Net income	$	20,526	$	428		$	0		$	20,954
Investments in affiliates	$	171,514	$	0		$	0		$	171,514
Total assets	$	707,973	$	3,019		$	(246	)	$	710,746
Construction and plant expenditures (c)	$	33,021	$	290		$	0		$	33,311
2009
Revenues from external customers	$	342,098	$	1,731		$	(1,731	)	$	342,098
Depreciation and amortization (a)	$	17,070	$	214		$	(214	)	$	17,070
Operating income tax expense	$	5,033	$	303		$	(303	)	$	5,033
Equity in earnings of affiliates	$	17,472	$	0		$	0		$	17,472
Interest income (b)	$	99	$	(22	)	$	0		$	77
Interest expense	$	11,600	$	(118	)	$	0		$	11,482
Net income	$	19,908	$	841		$	0		$	20,749
Investments in affiliates	$	129,733	$	0		$	0		$	129,733
Total assets	$	630,103	$	2,356		$	(307	)	$	632,152
Construction and plant expenditures (c)	$	31,413	$	386		$	0		$	31,799

(a) Includes net deferral and amortization of nuclear replacement energy and maintenance costs, and amortization of regulatory assets and liabilities.  These items are included in Purchased Power and Other Operation, respectively, on the Consolidated Statements of Income.  Also includes capital lease amortizations.

(b) Included in Other Income on the Consolidated Statements of Income.

(c) Construction and plant expenditures for Other Companies are included in other investing activities on the Consolidated Statements of Cash Flows.