Thursday, Central Vermont Public Service (NYSE:CV) lowered its earnings forecast for 2008 to a range of $1.28 to $1.38 per share, down from its previous estimate of $1.50 to $1.60 per share. This revision comes as a direct result of the unanticipated, record-breaking service restoration efforts necessitated by the ice storm that hit the New England area in mid-December. The company is consulting with its regulators about the possibility of a deferral of a portion of the extraordinary costs under its Alternative Regulation plan. If the costs are deferred for future recovery, 2008 earnings could rise to a range of $1.45 to $1.55 per share, but the company is unable to predict the outcome of the matter at this time.

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