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Public utilities

Vermont Public Utility Commission Rejects Initial Decommissioning Fund Letter of Credit for Bristol Solar, LLC

Strategic Insights

— 1 min read

The Vermont Public Utility Commission has rejected the initial decommissioning fund letter of credit filed by Bristol Solar, LLC, as part of its approval for a 2.2 MW photovoltaic electric generation facility in Bristol, Vermont. The commission found that the letter of credit did not comply with its requirements, specifically lacking a drawing certificate. The CPG Holder, Bristol Solar, LLC, has been encouraged to consult the commission's website for further guidance on filing a letter of credit and is required to file a revised letter of credit by May 26, 2023.

Key Takeaways:

  • The Vermont Public Utility Commission has rejected the initial decommissioning fund letter of credit filed by Bristol Solar, LLC due to non-compliance with its requirements.
  • The letter of credit lacked a drawing certificate, which is a critical component of the commission's requirements.
  • Bristol Solar, LLC has been encouraged to consult the commission's website for guidance on filing a letter of credit, including a sample letter of credit and drawing certificate.
  • The CPG Holder has been required to file a revised letter of credit by May 26, 2023.
  • The commission's order and certificate of public good (CPG) for the Bristol Solar, LLC project was issued on September 20, 2021.
  • The project involves a 2.2 MW photovoltaic electric generation facility in Bristol, Vermont.
  • The commission's requirements for letters of credit are posted on its website, including a sample letter of credit and drawing certificate.

Statistics:

  • 2.2 MW: The capacity of the photovoltaic electric generation facility approved for Bristol Solar, LLC.
  • 30 V.S.A. § 248: The Vermont statute under which the Vermont Public Utility Commission has issued its order and certificate of public good (CPG)
  • 30 days: The remaining time before expiration of the letter of credit, as required by the commission's requirements.
  • 9/20/21: The date on which the commission issued its order and certificate of public good (CPG) for the Bristol Solar, LLC project.
  • 3/27/23: The date on which the CPG Holder filed the initial letter of credit with the commission.
  • 5/26/23: The date by which the CPG Holder must file a revised letter of credit.

Sources:

  • Vermont Public Utility Commission, Order REJECTING INITIAL DECOMMISSIONING FUND LETTER OF CREDIT, Case No. 21-0974-PET (April 26, 2023).

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