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<title>May 2005: Vermont Legislature is One Step Closer To Enacting Renewable
Energy Legislation</title>
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<p align="left"><strong><small><font face="Arial">About The Author:</font></small></strong></p>
<p align="left"><font face="Arial" style="font-size: 9pt">Robert A. Olson is a partner in the law firm of
Brown, Olson & Gould, P.C. which maintains a nationwide practice in energy law,
public utility law and related commercial transactions.</font></p>
<p><small><font face="Arial"><font style="font-size: 9pt">He can be reached at:</font><br>
<br>
<b><font color="#0000FF">Brown, Olson & Gould, PC</font></b><br>
2 Delta Drive<br>
Suite 301<br>
Concord, NH 03301<br>
<a href="mailto:[email protected]">[email protected]</a><br>
(603) 225-9716<br>
<a href="mailto:[email protected]"></a></font></small></p>
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<p ALIGN="left"><u><b>May 2005</b></u><font size="6"><b><br>
Vermont Legislature is One Step Closer
To Enacting Renewable Energy Legislation<br>
</b></font><strong>by Robert Olson and Maria Reinemann -- Brown, Olson and Wilson, P.C.<br>
</strong><font face="Arial" size="2">(<em>originally published by PMA OnLine Magazine:
200</em>5/06/02)</font></p>
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<p align="left">On April 22, 2005, the Vermont House of Representatives passed an amended
version of Senate Bill 52, a bill designed to encourage development of
renewable energy by instituting a renewable energy portfolio standard (“RPS”).<br>
<br>
Under the House version, the RPS would not take effect until 2013, and would
not take effect at all if the state is successful in developing new,
in-state renewable energy in the amount of 10 percent of the aggregate
amount of energy sold by Vermont retail electricity providers during the
year 2005.<br>
<br>
To aid in the development of in-state renewable energy, the House version
would establish a “Sustainably Priced Energy Enterprise Development” or
“SPEED” program. The SPEED program would have two categories of projects:
qualifying SPEED resources and non-qualifying SPEED resources. Qualifying
SPEED resources are defined as contracts for in-state resources in the SPEED
program that meet the definition of renewable energy. Non-qualifying SPEED
resources are contracts for in-state resources in the SPEED program that are
combined heat and power facilities that are not fueled by renewable energy
sources and that have a total system efficiency of 65 percent or more.
Unless an electricity provider is excused from the SPEED program’s purchase
requirements by the Vermont Public Service Board (“PSB”) because
participation would impair the provider’s ability to meet the public’s need
for energy services or because the provider already has a sufficient amount
of renewable energy in its portfolio, all retail providers in Vermont would
be required to purchase power developed under the SPEED program on a pro
rata basis.<br>
<br>
If the state does not meet the goals set under the SPEED program by 2012,
then the RPS would take effect. Under the RPS, Vermont retail electricity
providers would have to provide the lesser of 10 percent of their 2005 sales
or their total incremental energy growth between January 1, 2005 and January
1, 2012 from “new renewable resources.” Retail electricity providers would
be permitted to meet this requirement though eligible new renewable energy
credits, new renewable energy resources with credits still attached, a
combination of those credits and resources, or by making payments into a
renewable energy fund. The state would develop a system for trading
renewable energy credits that would be consistent with regional practices. A
retail electricity provider may be excused from compliance with the
portfolio standard upon a finding by the PSB that the standard would impair
the provider’s ability to meet the public’s need for energy.<br>
<br>
Renewable energy that may be used to satisfy the RPS would have to be “new,”
that is, it would have to be produced by a generating source that came or
will come into service after December 1, 2004. Allowable “renewable”
resources under the House version of Senate Bill 52 would generally include
any resource “that is being consumed at a harvest rate at or below its
natural generation rate.” Methane gas and other flammable gases produced by
the decay of sewage treatment plant wastes or landfill wastes and anaerobic
digestion of agricultural products, byproducts, or waste are
specifically included in the definition of renewable energy resources.
However, other than agricultural or silvicultural waste, no form of solid
waste would be considered renewable. Energy that is produced by a
hydroelectric facility would be considered renewable only if the facility
has a generating capacity of 200 megawatts or less. The House version
permits the PSB to add technologies or technology categories to the list of
renewable energy resources contained in the bill.<br>
<br>
Because the version of Senate Bill 52 passed by the House differs from the
version previously passed by the Senate, the bill is now in a committee of
conference.</p>
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<blockquote>
<p align="left"><font face="Arial">
<small>Robert A. Olson is a partner in the law firm of Brown, Olson &
Gould P.C.
which maintains a nationwide practice in energy law, public utility law and related
commercial transactions. He can be reached at:</small></font><p align="center">
<font face="Arial"><small><font color="#0000FF"><b>Brown, Olson & Gould, PC</b></font><br>
2 Delta Drive, Suite 301<br>
Concord, NH 03301 <br>
<br>
<a href="mailto:[email protected]">[email protected]</a> | (603) 225-9716<a href="mailto:[email protected]"></a></small></font>
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