Code of Vermont Rules › Agency 30 - PUBLIC UTILITY COMMISSION › Sub-Agency 000 - GENERAL › Chapter 054 - SUSTAINABLY PRICED ENERGY ENTERPRISE DEVELOPMENT PROGRAM (4.300) › Section 30 000 054 - SUSTAINABLY PRICED ENERGY ENTERPRISE DEVELOPMENT PROGRAM (4.300)

Current through June, 2024
Section
			 4.301 Purpose
The purpose of this rule is to
				implement the Sustainably Priced Energy Enterprise Development
				("SPEED") program created under
				30
				V.S.A. §
											8005. The goal of the
				SPEED program is to achieve the goals of
				30 V.S.A. §
											8001 related to the promotion of
				renewable energy and long-term stably priced contracts for such
				energy that are anticipated to be below the market price.
Section 4.302
			 Scope
This rule applies to all Vermont electric distribution and
				transmission utilities, to any facilitator appointed by the Board
				under this rule, and to any in-state generation facility eligible to
				be a SPEED project. This rule addresses the establishment of the
				SPEED program, the appointment of a SPEED Facilitator, and the SPEED
				Facilitator's role in identifying and procuring SPEED resources. The
				rule does not address bilateral or multilateral arrangements under
				which Vermont utilities purchase power from renewable resources
				without the involvement of the SPEED Facilitator and shall not be
				construed as restricting utilities' abilities to enter into such
				contracts on other terms. The provisions of this rule shall not apply
				to net metering projects under
				30 V.S.A. §
											219a and Board Rule 5.100.
Section 4.303
			 Definitions
For purposes of this rule, the following definitions
				apply:
(A) "Allocate
			 equally" or "allocated equally," when used in reference to
			 apportioning costs between a set of one or more SPEED project owners
			 and a set of one or more Vermont utilities, means that half of the
			 costs to be apportioned are allotted to the SPEED Projects
			 collectively and half of the costs to be apportioned are allocated to
			 the Vermont utilities collectively.
(B) "Auction" means a public sale
			 of energy, capacity, ancillary services, or other electricity
			 products produced by a SPEED project to the highest bidder.
(C) "Board" means the Vermont
			 Public Service Board.
(D)
			 "Capacity" means the capability to produce, transmit or deliver
			 electric energy, measured in megawatts (MW) or kilowatts
			 (kW).
(E) "Certification"
			 means a determination by the Board that a generation facility
			 constitutes a SPEED project.
(F) "CHP" means combined heat and
			 power facilities, which in turn are defined as facilities that
			 produce both electric power and thermal energy from a single
			 process.
(G) "Department"
			 means the Vermont Department of Public Service.
(H) "Energy" means electric energy
			 measured in megawatt-hours (MWh) or kilowatt-hours (kWh).
(I) "Existing generation facility"
			 means a generation facility that existed and was placed in service on
			 or before December 31, 2004.
(J) "Facilitator" means a SPEED
			 Facilitator appointed by the Board under Section 4.306 of this
			 rule.
(K)
			 "Interconnecting utility" means the utility to whose electric system
			 a SPEED project is connected.
(L) "ISO-NE" means the Independent
			 System Operator of New England or any successor entity that fulfills
			 the same functions.
(M)
			 "LMP" means locational marginal price for the product or service
			 produced by a generation facility at the node where the facility
			 delivers such product or service to the interconnecting utility as
			 calculated by ISO-NE, under its rules, as those rules may be amended,
			 or any equivalent pricing mechanism designed to serve the same or
			 similar function.
(N)
			 "New renewable energy" is as defined in
			 30 V.S.A. §
											8002(4).
(O) "Nonqualifying SPEED resource"
			 is as defined in
			 30 V.S.A. §
											8002(6).
(P) "Qualifying SPEED resource" is
			 as defined in
			 30 V.S.A. §
											8002(5).
(Q) "Regional market" means the
			 wholesale electric power markets overseen and operated by the
			 ISO-NE.
(R) "Renewable
			 energy" is as defined in
			 30 V.S.A. §
											8002(2).
(S) " Section
			 248
			 " means
			 30
			 V.S.A. §
											248.
(T) "SPEED" means "Sustainably
			 Priced Energy Enterprise Development."
(U) "SPEED program" means the
			 Sustainably Priced Energy Enterprise Development program established
			 under
			 30
			 V.S.A. §
											8005.
(V) "SPEED project" means an
			 in-state generation project which meets the requirements of section
			 4.304 of this rule.
(W)
			 "SPEED resource" means a contract with a SPEED project for
			 electricity products, including, but not limited to, energy or
			 capacity products.
(X)
			 "Sponsoring utility" means a Vermont utility which has executed a
			 contract or letter of intent with a SPEED project.