Statement Of Senator Patrick Leahy On The Hydro-Quebec Amendment To The Bankruptcy Bill

November 16, 1999

"All Vermonters support attempts to bring the relevant parties together to resolve the contract dispute between Hydro-Quebec and Vermont electric companies. It is crucial to Vermont's economic health that we Vermonters do not have the highest electric rates in the nation.

"Senator Jeffords' amendment to break the existing contract has highlighted the urgency of resolving this issue. I believe it has now served its purpose. As the Democratic manager of the bankruptcy bill, I will not pursue this legislative remedy further. This contract is a matter that must be resolved between the parties to the contract -- not by congressional action. I urge all parties on both sides of the border to sit down and objectively renegotiate this contract."