Efficiency Vermont Proposes Rate Decrease

Montpelier, VT

Efficiency Vermont, Vermont’s statewide energy efficiency utility, has proposed a decreased budget for its next three-year performance period. The utility’s proposal aims to cut the Energy Efficiency Charge by five-percent in 2018 and hold it flat for the remainder of the three-year period while delivering the same level of savings.

The rate decrease comes as Efficiency Vermont is aiming to meet growing demand from customers and address unmet needs across electric and heating and cooling efficiency.  

“We’re filing this budget decrease as part of our mission to deliver maximum value to ratepayers,” said Efficiency Vermont Director Liz Gamache. “We will provide the same level of service and savings at a time when Vermonters are feeling financial pressure and uncertainty about their economic futures. This rate cut is one way Efficiency Vermont can provide some predictability for customers and help them save money.”

Efficiency Vermont’s proposed rate decrease has been filed today with the Public Service Board as part of its Demand Resource Plan proceedings for the 2018-2020 performance period. The filing also includes recommendations for the next set of energy-saving goals by which Efficiency Vermont’s performance is measured—balancing maximum value to ratepayers with statewide equity.

“Energy efficiency is an essential resource,” said Gamache. “It’s an investment that will continue to grow, and one we must protect in order for Vermonters to realize the full benefits of lower bills, avoided system costs, a cleaner environment, and more comfortable homes and buildings.”

The State’s Comprehensive Energy Plan, whereby 90% of the state’s energy will come from renewable resources by 2050, aims to maximize energy efficiency, which is produced at one-fifth the cost of purchasing new power.

“Meeting the State’s goals requires driving down energy use across electric, heating, and transportation. While we work primarily on the electric side and some on thermal, our hope is to do more to reduce heating and transportation costs—knowing that Vermonters want and need these services, and that our planet depends on it,” said Gamache.

The Public Service Board will review Efficiency Vermont’s filing, along with that of the Department of Public Service, after which it will issue a decision on the rates and goals for the 2018-2020 performance period.

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

Efficiency Vermont
Alayna Howard
Phone: (802) 540-7656
press@veic.org