|EXHIBIT A 10.100.3
CENTRAL VERMONT PUBLIC SERVICE CORPORATION

PERFORMANCE SHARE INCENTIVE PLAN


Effective January 1, 2007


TABLE OF CONTENTS


Execution Copy
March, 2007

CENTRAL VERMONT PUBLIC SERVICE CORPORATION

PERFORMANCE SHARE INCENTIVE PLAN

TABLE OF CONTENTS
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|ARTICLE I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | - PURPOSE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                                                                                               
|ARTICLE II                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | - DEFINITIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | "Account"
"Award"
"Board"
"Change of Control"
"Code"
"Committee"
"Common Stock" or "Stock"
"Comparison Group"
"Component"
"Dividend Equivalent"
"Effective Date"
"Employer"
"Exchange Act"
"Fair Market Value"
"Operational Measures"
"Participant"
"Performance Cycle"
"PeRS"
"Plan"
"Pro Rata Portion"
"Stock Unit"
"Target PeRS"
"Termination of Employment"
"Total Shareholder Return                                                                                                                   | 2.1
2.2
2.3
2.4
2.5
2.6
2.7
2.8
2.9
2.10
2.11
2.12
2.13
2.14
2.15
2.16
2.17
2.18
2.19
2.20
2.21
2.22
2.23
2.24
|ARTICLE III                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | - DETERMINATION OF PERFORMANCE SHARES                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | Designation of PeRS and Related Terms
Adjustment of and Changes in Stock                                                                                                                                                                                                                                                                                                                                                                                                                                    | 3.1
3.2                                                                                                       
|ARTICLE IV                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | - PAYMENT OF GRANTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | Performance Awards
Accounts
Payment of Account                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 4.1
4.2
4.3                                                                                                   
|ARTICLE V                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | - TERMINATION OF EMPLOYMENT                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | Termination Prior to Completion of Performance Cycle
Change of Control                                                                                                                                                                                                                                                                                                                                                                                                                                      | 5.1
5.2                                                                                                       
|ARTICLE VI                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | - ADMINISTRATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | Committee
Amendment and Termination                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 6.1
6.2                                                                                                       
|ARTICLE VII                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | - GENERAL PROVISIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | Payments to Minors and Incompetents
No Contract
Use of Masculine and Feminine; Singular and Plural
Non-Alienation of Benefits
Income Tax Withholding
Continuation of Plan
Governing Law
Captions
Severability                                                                                                                                                                                                                                                                                               | 7.1
7.2
7.3
7.4
7.5
7.6
7.7
7.8
7.9                                                                           
|ARTICLE I
PURPOSEEffective January 1, 2007, Central Vermont Public Service Corporation (the "Employer") has established The Central Vermont Public Service Corporation Performance Share Plan (the "Plan") in order to strengthen the ability of the Employer to attract and retain talented executives and to promote the long-term growth and profitability of the Employer by linking a significant element of executives' compensation opportunity to the performance of the Employer in meeting key operational and shareholder return goals over an extended period of time.  Shareholder return, customer satisfaction, operational efficiency and capital spending are both relative to established peer groups.
|ARTICLE II
DEFINITIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|2.1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | "Account" means the bookkeeping account established for the Participant under Section 4.2.                                                                                                                                                                                                                                                                                                                                                                                                                 
|2.2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | "Award" means any payment or settlement in respect of a grant of Common Stock or cash or any combination thereof in accordance with Section 4.1.                                                                                                                                                                                                                                                                                                                                                           
|2.3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | "Board" means the Board of Directors of Central Vermont Public Service Corporation.                                                                                                                                                                                                                                                                                                                                                                                                                        
|2.4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | "Change of Control" shall have the same meaning as the term defined in the Change of Control Agreement approved by the Employer's Board of Directors on April 3, 2000.                                                                                                                                                                                                                                                                                                                                     
|2.5                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | "Code" means the Internal Revenue Code of 1986, as amended from time to time, and pertinent regulations issued thereunder. Reference to any section of the Code shall include any successor provision thereto.                                                                                                                                                                                                                                                                                             
|2.6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | "Committee" means the Compensation Committee appointed by the Board to administer this Plan. The Committee shall be comprised of at least 3 members who qualify as "non-employee directors" within the meaning of Rule 16B-3 promulgated under the Exchange Act.                                                                                                                                                                                                                                           
|2.7                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | "Common Stock" or "Stock" means the common stock of the Employer.                                                                                                                                                                                                                                                                                                                                                                                                                                          
|2.8                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | "Comparison Group" means the peer group of companies designated by the Committee as the Comparison Group relative to a given Performance Cycle, as described in Section 3.1(c)                                                                                                                                                                                                                                                                                                                             
|2.9                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | "Component" means the part of the plan related to specific measures.  Starting in 2005, there are two plan components - one related to relative Total Shareholder Return performance and the second related to meeting key operational measure performance.                                                                                                                                                                                                                                                
|2.10                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | "Dividend Equivalent" means credits in respect of each PeRS (as defined in section 2.18) or other Stock Unit representing an amount equal to the dividends or distributions declared and paid on a share of Common Stock.                                                                                                                                                                                                                                                                                  
|2.11                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | "Effective Date" means January 1, 2007, the effective date of this Plan.                                                                                                                                                                                                                                                                                                                                                                                                                                   
|2.12                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | "Employer" means Central Vermont Public Service Corporation, its subsidiaries and affiliates, and its successor or successors.                                                                                                                                                                                                                                                                                                                                                                             
|2.13                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | "Exchange Act" means the Securities Exchange Act of 1934, as amended and in effect from time to time, including all rules and regulations promulgated thereunder.                                                                                                                                                                                                                                                                                                                                          
|2.14                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | "Fair Market Value" means the average of the high and low quoted selling price for a share of Common Stock of the Company on the applicable date as quoted on the New York Stock Exchange ("NYSE") in the Eastern Edition of the Wall Street Journal or in a similarly readily available public source on such date.  If such date shall not be a business day, then the preceding day which shall be a business day, or if no sale takes place, then the average of the bid and asked prices on such date.
|2.15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | "Operational Measures" means the specific measures of operational performance chosen for a three year performance cycle. (See Exhibit B.)                                                                                                                                                                                                                                                                                                                                                                  
|2.16                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | "Participant" means an executive officer of the Employer who is selected by the Board to participate in this Plan.                                                                                                                                                                                                                                                                                                                                                                                         
|2.17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | "Performance Cycle" means the period over which PeRS designated in respect of the Performance Cycle potentially may be earned. Performance Cycles will be three-year periods extending from January 1 of the initial year through December 31 of the third year in the Performance Cycle. Performance Cycles generally will begin each year, and therefore will overlap with one another.                                                                                                                  
|2.18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | "PeRS" means Stock Units which are potentially earnable by a Participant hereunder upon achievement of specific levels of performance for the two plan components as shown in Exhibit A and B.  The term is an acronym for "performance-based restricted Stock Units".                                                                                                                                                                                                                                     
|2.19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | "Plan" means the Central Vermont Public Service Corporation Performance Share Incentive Plan, as set forth herein, as may be amended from time to time. Shares for this plan were approved by shareholders on May 7, 2002 as the 2002 Long-Term Incentive Plan and any subsequent replacement plans.                                                                                                                                                                                                       
|2.20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | "Pro Rata Portion" means a portion of shares which is determined by multiplying a predetermined number of PeRS by the ratio of months in a thirty six month performance cycle which the executive was employed by the Company in that cycle.                                                                                                                                                                                                                                                               
|2.21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | "Stock Unit" is a bookkeeping unit which represents a right to receive one share of Common Stock upon settlement, together with a right to accrual of additional Stock Units as a result of Dividend Equivalents, subject to the terms and conditions of this Plan. Stock Units are arbitrary accounting measures created and used solely for purposes of this Plan, and do not represent ownership rights in the Employer, shares of Common Stock, or any asset of the Employer.                          
|2.22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | "Target PeRS" means a number of PeRS designated as a target number that may be earned by a Participant in respect to a given Performance Cycle plus the number of PeRS resulting directly or indirectly from Dividend Equivalents on the originally designated number of Target PeRS.                                                                                                                                                                                                                      
|2.23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | "Termination of Employment" means the Participant's termination of employment with the Employer.                                                                                                                                                                                                                                                                                                                                                                                                           
|2.24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | "Total Shareholder Return" means the amount, expressed as a percentage, of market price appreciation or depreciation of a share of common stock plus dividends on a share of Common Stock or on the common stock of a company in the Comparison Group (in both cases excluding extraordinary dividends), assuming dividend reinvestment at the dividend payment date, for the specified 3-year period.                                                                                                     

|ARTICLE III
DETERMINATION OF PERFORMANCE SHARES
|-----------------------------------------------
|3.1                                            
|                                               
|                                               
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|3.2                                            
|ARTICLE IV
PAYMENT OF GRANTS                   
|4.1                                            
|4.2                                            
|4.3                                            
|ARTICLE V
TERMINATION OF EMPLOYMENT            
|5.1                                            
|                                               
|                                               
|5.2                                            
|ARTICLE VI
ADMINISTRATION                      
|6.1                                            
|6.2                                            
|ARTICLE VII
GENERAL PROVISIONS                 
|7.1                                            
|7.2                                            
|7.3                                            
|7.4                                            
|7.5                                            
|7.6                                            
|7.7                                            
|7.8                                            
|7.9                                            

|IN WITNESS WHEREOF, the Employer has caused this instrument to be executed by its duly authorized officer as of the 8th day of February, 2007.
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|                                                                                                                                              
|Attest:
By: /s/ Mary C. Marzec             Mary Marzec
(Corporate Seal)                                                                       

|Exhibit A
PeRS Earned for Total Shareholder Return Performance Component
for 2007-2009 Performance Cycle
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|Three-Year Total Shareholder
Return - Employer PercentileRank vs. Comparison Group |  | Multiple ofTarget PeRS Earned
|---------------------------------------------------------------------------------- |  | -----------------------------
|75th percentile or higher
50th percentile
30th percentile
Below 30th percentile    |  | 1.5
1.0
0.3
0.0              

|The resulting three year Total Shareholder Return determined for this Plan shall be rounded up to nearest percentile specified above. The multiple of Target PeRS earned between each of the respective percentiles specified above shall be determined by linear interpolation.
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|Exhibit B
PeRS Earned for Operational Measure Performance Component
For 2007-2009 Performance Cycle
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|Operational Measures                                                                                                                                                                                                                                                                     | 0X
Threshold                                        | 1X
Target                                                          | 1.5X
Maximum                                                                                                                                                      | Weight 
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------- | ------------------------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------
|A measure of operational financial
performance - ROA (Return on Assets)
 - average over 3 years                                                                                                                                                                                          | 3.3%                                                | 3.95%                                                              | 4.73%                                                                                                                                                             | 20%    
|CV's financial strength (investment
grade status) is restored                                                                                                                                                                                                                            | Move to
positive
outlook
BB+                        | Achieve
investment
grade status
(BBB- or
better/
negative
outlook) | Achieve
investment
grade status
(BBB- or
better/
stable
outlook)                                                                                                  | 25%    
|CV's % of the East Region electric
utilities weighted average in overall
customer perception as measured by
J.D. Power (average over 3 years)                                                                                                                                            | 100% of
East Region
weighted
average                | 102.5% of
East Region
weighted
average                             | 105% of
East Region
weighted
average                                                                                                                              | 20%    
|Service Quality as determined by a 
subset of the SERVE matrix (average
over 3 years).  The subset includes:
CAIDI, SAIFI, and transactional customer
service.                                                                                                                           | 3                                                   | 4                                                                  | 5                                                                                                                                                                 | 15%    
|Pacific Economics Group (PEG) measure
of operational efficiency (1st measure)
and capital spending (2nd measure).  Will
be measured in 3rd year and the most
three years will be calculated and averaged.
If PEG or successor not in business,
spread weight evenly over other measures. | 50thpercentile
or greater
50thpercentile
or greater | 70th
percentile
or greater
70th
percentile
or greater              | Statistically
significant 
superior 
performance 
(at 90% 
confidence 
interval)
Statistically
significant 
superior 
performance 
(at 90% 
confidence 
interval) | 10%
10%

|The multiple of Target PeRS is determined by using the weighted performance of the measures above.  Linear interpolation is used for actual performance between performance points specified above for the quantitative measures.
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