Green Mountain Power announced that The Vermont Public Service Board has approved revisions to the utility's renewable energy program, GreenerGMP. The revisions allow Green Mountain Power to use all of the program revenues to purchase Vermont-based renewable energy projects as they become available, rather than renewable resources elsewhere in New England. Other revisions include simplifying the way the rate is calculated, which will make the program easier to communicate, easier to understand, and less costly to administer. The new program design is expected to stabilize the renewable rate over the long run by encouraging long term renewable energy purchase commitments. Green Mountain Power worked closely with Renewable Energy Vermont in redesigning the program.
Under the GreenerGMP program, residential and small commercial customers can purchase renewable energy equivalent to 25%, 50%, or 100% of their monthly electricity needs at a current premium of about 3¢/kWh.
News Release - Green Mountain Power Renewable Energy Rate Revised To Support Vermont Projects