Vermont Public Utility Commission Approves Tariff Revisions for Vermont Electric Cooperative's Weatherization Repayment Assistance Program

Strategic Insights -

Vermont Electric Cooperative ("VEC") has filed a revised tariff for its Weatherization Repayment Assistance Program ("WRAP") with the Vermont Public Utility Commission ("Commission"). The proposed revisions remove the program's end date of December 31, 2024, and change the effective date from September 12, 2022, to January 1, 2025. The revised tariff also specifies that WRAP charges will be shown on a separate statement included in the same envelope as monthly electricity bills. The Vermont Housing Finance Agency ("VHFA") has filed comments in support of the tariff revisions, stating that the changes will enable VEC to continue offering the benefits of the WRAP program to customers in the future without interruption.

Key Takeaways:

  • The Vermont Public Utility Commission has approved tariff revisions for Vermont Electric Cooperative's Weatherization Repayment Assistance Program, effective January 1, 2025.
  • The revised tariff removes the program's end date of December 31, 2024, and changes the effective date from September 12, 2022, to January 1, 2025.
  • The tariff revisions also specify that WRAP charges will be shown on a separate statement included in the same envelope as monthly electricity bills.
  • The Vermont Housing Finance Agency has filed comments in support of the tariff revisions, stating that the changes will enable VEC to continue offering the benefits of the WRAP program to customers in the future without interruption.
  • The Department of Public Service has also reviewed the filing and recommends that the tariff change be approved without further investigation.
  • VEC's Weatherization Repayment Assistance Program provides on-bill repayment terms for a pilot weatherization program initiated by the Vermont Housing Finance Agency that focuses on Vermonters with low and moderate incomes.
  • The program allows customers to purchase and install efficiency improvements with zero or reduced upfront payment, with the financed portion paid off over time through a tariffed charge on the customer's billing statement.

Statistics:

  • Effective date of the revised tariff: January 1, 2025
  • Original end date of the Weatherization Repayment Assistance Program: December 31, 2024
  • New effective date of the tariff: January 1, 2025
  • Number of comments received by the Commission: 3 (from VEC, VHFA, and the Department of Public Service)

Sources:

  • Vermont Public Utility Commission (Order No. 24-3435-TF)
  • Vermont Electric Cooperative (tariff filing)
  • Vermont Housing Finance Agency (comments submitted on November 18, 2024)
  • Department of Public Service (comments submitted on December 16, 2024)