Vermont § 8008 - Agreements; attribute revenues; disposition by Commission

§ 8008. Agreements; attribute revenues; disposition by Commission

• (a) As used in this section, “the revenues” means revenues that are from the sale, through
  tradeable renewable energy certificates or other means, of environmental attributes
  associated with the generation of renewable energy from a system of generation resources
  with a total plant capacity greater than 200 MW and that are received by a Vermont
  retail electricity provider on or after May 1, 2012, pursuant to an agreement, contract,
  memorandum of understanding, or other transaction in which a person or entity agrees
  to transfer such revenues or rights associated with such attributes to the provider. (b) After notice and opportunity for hearing, the Commission shall determine the disposition,
  allocation, and use of the revenues in a manner that promotes State energy policy
  as stated in section 202a of this title and the goals of this chapter and supports achievement of the greenhouse gas reduction
  and building efficiency goals contained in 10 V.S.A. §§ 578(a) and 581. (1) The Commission shall provide notice of the proceeding to each Vermont retail electricity
  provider, the Department, the Clean Energy Development Board under 10 V.S.A. § 6523, each fuel efficiency service provider appointed under subsection 203a(b) of this title, each energy efficiency entity appointed under subdivision 209(d)(2) of this title, the Institute for Energy and the Environment at the Vermont Law School, the Transportation
  Research Center at the University of Vermont, and any other persons or entities that
  have requested notice. The Commission may provide notice to additional persons or
  entities. (2) In determining the disposition, allocation, and use of the revenues, the Commission
  shall consider each of the following potential uses of the revenues: (A) Development of in-state renewable energy resources. (B) Deposit into the Clean Energy Development Fund for use pursuant to section 8015 of this title. (C) Deposit into the Fuel Efficiency Fund for use pursuant to section 203a of this title. (D) Deposit into the Electric Efficiency Fund for use pursuant to section 209(d) of this title. (E) Application, for the benefit of ratepayers, to the revenue requirement of one or more
  Vermont retail electricity providers. (F) Development of transportation alternatives to vehicles that use gasoline such as electric
  or natural gas vehicles and supporting infrastructure and the coordination of such
  development with so-called “smart grid” electric transmission and distribution networks. (G) Any other uses that support the statutory policy and goals referenced in this subsection
  (b). (c) A Vermont retail electricity provider shall notify the Commission within 30 days of
  the first receipt of the revenues pursuant to an agreement, contract, memorandum of
  understanding, or other transaction under which it will receive the revenues. The
  Commission shall open a proceeding under this section promptly on receipt of such
  notice and shall issue a final order in the proceeding within 12 months following
  such receipt. (d) Any of the revenues that are received prior to completion of the 12-month period described
  in subsection (c) of this section shall be credited, for the benefit of ratepayers,
  against the revenue requirement of the Vermont retail electricity provider that receives
  the revenues. (Added 2009, No. 159 (Adj. Sess.), § 13b, eff. June 4, 2010; amended 2011, No. 47, §§ 18, 20m(a); 2017, No. 74, § 127; 2023, No. 85 (Adj. Sess.), § 456, eff. July 1, 2024.)