Management at the city's light plant and union workers recently reached an agreement on a new contract, both sides ratifying a four-year deal that is largely retroactive.
Peabody Municipal Light Plant announced the new contract will cover July 1, 2010 through June 30, 2014 and ensure workers a 1.75 percent annual pay raise on average.
"This is a fair agreement for both the ratepayers and employees,” said PMLP Commission Chairman Robert Wheatley in a statement.
The number is likely a lot more palatable to taxpayers than the previous contract, which included an 11 percent raise over three years and was likewise retroactive.
It took both sides approximately 1-1/2 years to reach the latest deal. By way of comparison, talks on the previous contract began in 2006 and were not finalized until early in 2010.
“Speaking on behalf of the commission and management at PMLP, we extend our compliments to the union negotiators and overall union membership for the commendable manner in which discussions were conducted,” said Wheatley.
PMLP noted the new contract was actually ratified at the commission's Sept. 27 meeting.
The union representing workers at the plant is the American Federation of State County and Municipal Employees, AFL-CIO, State Council 93, Local 364. PMLP serves both Peabody and South Lynnfield.
For more information about PMLP, visit www.pmlp.com.