Code of Vermont Rules › Agency 30 - PUBLIC UTILITY COMMISSION › Sub-Agency 000 - GENERAL › Chapter 4300 - SUSTAINABLY PRICED ENERGY ENTERPRISE DEVELOPMENT PROGRAM (SPEED) › Section 30 000 4300 - SUSTAINABLY PRICED ENERGY ENTERPRISE DEVELOPMENT PROGRAM (SPEED)

Current through June, 2024
Section 4.300
			 SUSTAINABLY PRICED ENERGY ENTERPRISE DEVELOPMENT PROGRAM
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 4.301
			 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
				Commission 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 Commission 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) "Commission" means the Vermont
			 Public Utility Commission.
(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 Commission 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 Commission 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.