Vermont Public Utility Commission Approves Efficiency Vermont's Proposal to Manage Unspent Funds

Strategic Insights -

The Vermont Public Utility Commission has issued an order approving Efficiency Vermont's proposal to manage unspent Electric Energy Efficiency Charge (EEC) and Thermal Energy and Process Fuels (TEPF) funds. The commission will allow Efficiency Vermont to return $256,553 in the form of a customer credit in the 2023 EEC rates and to carry over $21,296 in unspent TEPF resource-acquisition funds and retain $49,004 in unspent 2021 TEPF development and support services funds for future reallocation.

Key Takeaways:

  • Efficiency Vermont proposed returning $256,553 in unspent EEC funds to ratepayers in the form of a customer credit in the 2023 EEC rates.
  • The commission approved Efficiency Vermont's request to carry over $21,296 in unspent TEPF resource-acquisition funds for 2022 TEPF RA activities.
  • Efficiency Vermont will retain $49,004 in unspent 2021 TEPF development and support services funds for future reallocation.
  • The proposed customer credit is made up of $247,698 in unspent 2021 electric DSS funds and $8,855 in operations fee savings.
  • Efficiency Vermont proposed to carry over $21,296 of unspent TEPF RA funds into 2022 TEPF RA budgets, including $21,085 in unspent 2021 TEPF RA funds and $211 in 2021 TEPF RA Operations Fees.
  • The commission notes that there is no specific guidance in the Process and Administration document regarding unspent TEPF funds.
  • The Department of Public Service supports Efficiency Vermont's proposal and does not object to the proposed disposition of unspent EEC and TEPF funds.

Statistics:

  • $256,553: Amount of unspent EEC funds to be returned to ratepayers.
  • $21,296: Amount of unspent TEPF resource-acquisition funds to be carried over for 2022 TEPF RA activities.
  • $49,004: Amount of unspent 2021 TEPF development and support services funds to be retained for future reallocation.
  • $247,698: Amount of unspent 2021 electric DSS funds to be returned to ratepayers.
  • $8,855: Amount of operations fee savings to be returned to ratepayers.
  • $21,085: Amount of unspent 2021 TEPF RA funds to be carried over into 2022 TEPF RA budgets.
  • $211: Amount of 2021 TEPF RA Operations Fees to be carried over into 2022 for TEPF RA Operations Fees.
  • $48,279: Amount of unspent 2021 TEPF DSS funds to be retained for future reallocation.
  • $726: Amount of unearned 2021 TEPF Operations Fees to be retained for future reallocation.
  • 1.35%: 2021 operations fee rate.
  • 1%: 2022 operations fee rate.

Sources:

  • Vermont Public Utility Commission, Order in Case No. 22-0946-PET (06/02/2022).
  • Vermont Public Utility Commission, Process and Administration of an Energy Efficiency Utility Order of Appointment Document (revised June 23, 2021).
  • Department of Public Service, Comments in Case No. 22-0946-PET (April 14, 2022).