Customers will pay 5% less for energy efficiency in 2018
Double-digit rate drop for industrial customers; slight increase for residential
Efficiency Vermont will spend less money to deliver the same level of energy savings to Vermonters in 2018, reducing the total amount of money to be collected through customer bills by 5 percent.
The Vermont Public Utilities Commission recently approved Efficiency Vermont’s budget and goals for 2018-2020. The budget features a 5 percent reduction in 2018, which will be held flat for the following years. Efficiency Vermont proposed the reduced budget.
The lower budget will result in an Energy Efficiency Charge (EEC) rate reduction for commercial customers, and a slight increase for residential customers:
- Commercial customers will see a decrease of 8.4%
- Industrial customers will see an 11.1% decrease
- Residential customers will have a 1% increase (8 cents more per month for the average customer). The residential rate increase is to make up for an under-collection in the EEC in 2017.
“Energy efficiency is a way for Vermonters to save money and to support our local economy,” said Karen Glitman, Director of Efficiency Vermont. “In 2018 we’re pleased to continue that work, while reducing the cost of this service for Vermont’s businesses and holding residential rates nearly flat. We look forward to continuing our partnerships with Vermont families, businesses, and communities as we accelerate access to clean, affordable, and efficient energy for all Vermonters.”
The new rates will become effective in February, 2018.
Energy efficiency is a key component of making energy more affordable for Vermonters. In 2016 energy efficiency met 15 percent of Vermont’s electric needs, at less than half the cost of purchased electricity.
“We’ve learned firsthand that energy efficiency is a good investment, and having Efficiency Vermont’s expertise and support to guide our investment has been invaluable,” said Richard Morley, Vice President of Support Services for Central Vermont Medical Center, which has recently made substantial energy efficiency improvements. “We take pride in knowing that our investment is benefitting our whole community by lowering Vermont’s total energy demand, and helping avoid higher-cost resources that put upward pressure on everyone’s electric rates.”
Learn more about the value of energy efficiency, as well as how Efficiency Vermont plans to deliver services to customers in the coming years, by downloading a copy of the proposed Efficiency Vermont 2018-2010 Triennial Plan.
About Efficiency Vermont
Efficiency Vermont was created by the Vermont Legislature and is regulated by the Vermont Public Utility Commission to help all Vermonters reduce energy costs, strengthen the economy, and protect Vermont's environment. For more information, contact Efficiency Vermont at 888-921-5990 or visit www.efficiencyvermont.com
Phone: (802) 540-7656