Incoming Green Mountain Power (GMP) CEO Mary Powell announced today a broad plan to drive the development of renewable energy sources, combat climate change and spur a green energy economy in Vermont, where the company operates.
"It is clear to me that we have an opportunity to create significant environmental and economic value for our customers and at the same time help to create a clean energy economy that combats climate change and creates green jobs in Vermont," said Powell, who will succeed outgoing CEO Chris Dutton on August 1.
GMP’s energy strategy calls for replacing power purchases from Vermont Yankee with renewable resources over time. The plan envisions a 20-year transition period in which Vermont aggressively develops renewable energy sources in the state and secures access to low-emission baseload energy from Canada and other states.
It also calls for the development of "green energy zones" to drive the development of in-state renewable energy projects, the development of a "smart, green grid," and increased investment in energy efficiency, distributed generation and demand response program.
GMP said it wants to forge new geo-political relationships with the Province of Quebec, as well as power company Hydro Quebec to invest in new transmission infrastructure to import more power from Quebec, which will provide back up support for Vermont renewable generation and support the replacement of declining purchases from Vermont Yankee.
Hydro Quebec recently accepted bids for more than 2,000MW of wind power to be connected to the grid by 2015.
GMP received permission this month to offer incentive levels to solar system owners above the level called for by Vermont’s net metering rules.
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