VEC’s Power Supply: Multiple Sources, With Cost Top-of-Mind
Johnson, VT – Affordability, diversity, and synergy are the principles that guide Vermont Electric Co-op when buying wholesale electricity, VEC Power Planning Analyst Dan Potter said during a recent webinar focusing on VEC’s power supply purchasing strategies.
As VEC considers its purchases of power to supply the utility's 33,000 members, Potter says the co-op also relies on input from the VEC Board of Directors, an annual member survey, as well as state requirements.
When choosing how much to buy of which source – among them large hydro, wind, solar, biomass and nuclear energy – Potter noted that the cost of power is always the predominant consideration. He also said that diversity of sources reduces financial risk for the co-op and strong synergy among different sources assures that different power supplies are complimentary with each other, and also assures power is available when members need it.
Noting that the co-op has successfully met a 2025 Board of Directors goal of sourcing 100 percent of VEC’s power from carbon free sources by 2025, Potter said his team is now making plans to meet a second Board of Directors goal of supplying 100 percent of the power from renewable sources on an annualized basis by 2030.
Questions from the webinar’s attendees focused on battery storage, how nuclear power fits into the future of VEC’s power supply, VEC’s Co-op Community Solar Program, and more.
The webinar is available for viewing on demand here.
About Vermont Electric Cooperative
Vermont Electric Cooperative (VEC), established in 1938, is a non-profit, member-owned electric distribution utility that provides safe, affordable, and reliable and sustainable electric service to approximately 33,000 members in 75 communities in northern Vermont. Operating with an annualized 100 percent carbon-free power supply, VEC is nationally recognized for innovative and advanced use of technology. VEC is the largest locally-owned electric distribution utility in Vermont.? www.vermontelectric.coop