Have you ever wondered where your power comes from?
VEC’s power supply policy is to provide safe and reliable power at the least cost possible. VEC’s current power supply portfolio includes hydro, wind, solar, farm methane, wood, nuclear, and natural gas/oil sources.
VEC can buy power through contracts with counter parties or purchase power through the ISO-NE energy market. Our long-term power supply needs are projected based on forecasts conducted every three years, and, going into each year, our goal is to have contracts in place for at least 90 percent of our projected needs. The remaining power needed is purchased from the spot market.
Starting in 2017, Vermont’s Renewable Portfolio Standard (RPS) required all Vermont electric utilities to have 55 percent of their power supply come from renewable sources. The renewable requirement increases over time until it reaches 75 percent in 2032. As the charts below show VEC is meeting the Vermont RPS and is approximately 55 percent renewable and 73 percent carbon free.
VEC's 2019 initial power supply mix is shown in the chart below. This chart does not represent the Renewable Energy Certificates (RECs) associated with the energy, but rather the initial fuel sources of the energy VEC purchased to meet the demand of its membership in 2019.
The chart below represents VEC’s final REC holdings for 2019 after all REC trading has concluded. VEC’s 2019 sales totaled 444,169.071 MWh, equating to a Tier I requirement of 244,293 RECs and a Tier II requirement of 9,772 RECs.