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Jim Massie / Bob Griffin / Kirk Shields February 25, 2013.

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Presentation on theme: "Jim Massie / Bob Griffin / Kirk Shields February 25, 2013."— Presentation transcript:

1 Jim Massie / Bob Griffin / Kirk Shields February 25, 2013

2 Background 2013 Highlights 2013 Initiatives 2013 Budget & Benefits Summary Other Details Questions

3 Public Service Board Order $20.9M Investment $25M in Net Societal Benefits (7 Years) Actual investment requirements grow with inflation, net benefit requirements grow at Companys cost of capital GMP customers in former CVPS territory But-for test Equitable distribution by rate class Stakeholder process

4 Low Income Weatherization $6M in 2012 (already invested) $4M in 2013 (by December 1st) Thermal Efficiency ($2M) Other Investments ($8.9M) Electric Efficiency Renewables New & Emerging Technologies

5 Goals Open, flexible & transparent Encourage collaboration Consistent screening platform Introduction Workshops (Oct) Proposal Reviews and Comments (Nov-Dec) Initiative Selection (Jan) Lessons Learned

6 Coordination with GMP Energy Efficiency Fund Efficiency Vermont Public Service Department Launch electric and thermal initiatives Establish Forward Capacity Market process Renewable screening investigation Stakeholder workshops for 2014

7 Electric Efficiency Business Existing Facilities EverGreen Fund Agriculture Thermal Efficiency Home Performance with ENERGY STAR® Condominiums Building Performance Cold Climate Heat Pumps

8 Business Existing Facilities $1M Investment Efficiency Vermont Mutual Fund $2.9M Net Societal Benefits Evergreen Fund $50K Investment (Start-up Costs) Efficiency Vermont

9 Farm Programs $148K Investment Collaboration Efficiency Vermont VT Agency of Agriculture, Farms & Markets EnSave 80 Farms $743K Net Societal Benefits

10 Home Performance with ENERGY STAR $946K Investment Collaboration Efficiency Vermont NeighborWorks of Western Vermont Vermont Fuel Dealers Association Building Performance Professionals Association 188 Retrofits $1.1M Stipulated Net Societal Benefits (actual $1.5M)

11 Building Performance $196K Investment Collaboration Efficiency Vermont Common Sense Energy 38 Retrofits $236K Net Societal Benefits (actual $1M)

12 Condominium Efficiency Initiative $150K Investment Collaboration Shelter Analytics Energy Futures Group 33 Retrofits $180K Net Societal Benefits (actual $284K)

13 Cold Climate Heat Pumps $225K Investment Collaboration Efficiency Vermont NeighborWorks of Western Vermont Energy Futures Group/High Meadows Fund Vermont Fuel Dealers Association 45 Installations $270K Net Societal Benefits (actual $524K)


15 TypeInvestmentGross BenefitsCompletion Low Income Weatherization $6.0M$13.2M12/01/2012 $4.0M$8.8M12/01/2013 Electric Efficiency $1.2M$4.8M12/31/2013 $7.7M$23.1M12/31/2017 Thermal Efficiency $1.5M$3.3M12/31/2013 $0.5M$1.1M12/31/2014 Totals $20.9M$53.2M12/31/2017

16 Allows for innovation Stretches program budgets More customers served Heat Pumps (30) Condominiums (45) Greater actual Net Societal Benefits $3.8M vs. $3.4M

17 No impact to electric efficiency plans Faster ramp up of residential and business retrofits Heat Pump program budget drops by 33% Condominium initiative eliminated Claimed NSB constant, actual NSB drops by $400k Still substantial risks in achieving targets within 2013 due to start-up requirements and seasonality for thermal investments


19 Reporting ( Monthly, Annual) Annual Plan (November 15 th ) Savings Verification & Evaluation (PSD)


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