Code of Vermont Rules › Agency 30 - PUBLIC UTILITY COMMISSION › Sub-Agency 000 - GENERAL › Chapter 010 - RULE 5.200: NOTIFICATION OF POWER SUPPLY TRANSACTIONS › Section 30 000 010 - RULE 5.200: NOTIFICATION OF POWER SUPPLY TRANSACTIONS

Current through June, 2024
PSB Rule 5.200 - Power Supply Transactions
Effective: March 1, 2004
Section 1. General Order 45, and
			 all subsequent clarifying letters and orders issued by the Public
			 Service Board, are hereby rescinded.
Section 2. Public Service Board
			 Rule 5.200 is adopted to read as follows:
SUBCHAPTER 5.200 NOTIFICATION OF
			 POWER SUPPLY TRANSACTIONS
5.201
			 Purpose
The purpose of this Rule is to require private,
				municipal, and cooperative electric utilities to notify the Public
				Service Board and the Department of Public Service of power supply
				transactions. This shall be accomplished by notification to the Board
				and Department of power supply contracts entered into by Vermont's
				electric utilities and through the filing of quarterly and annual
				reports detailing past and proposed power supply transactions of
				Vermont's electric utilities. Additionally, all Vermont electric
				utilities are required to notify the Board and Department of certain
				contracts, as specified in section
				5. 202,
				entered into by an electric utility for the purpose of purchasing or
				leasing electrical generation or transmission facilities within
				Vermont.
5.202
			 Notification to the Public Service Board and Department of Public
			 Service
Each private, municipal, and cooperative electric
				utility is required to give the Public Service Board and the
				Department of Public Service notice in writing, at least ninety (90)
				days in advance unless the period of advance notice is reduced under
				section
				5. 204, of
				any of the following events:
(A) the execution of any contract
			 which is more than five years in duration with any party for the
			 purchase or lease of any electrical generation facility within the
			 State of Vermont;
(B) the
			 execution of any contract which is more than five years in duration
			 with any party for the purchase or lease of any electrical
			 transmission facility within the State of Vermont which is designed
			 for immediate or eventual operation at any voltage equal to or in
			 excess of 46 kV;
(C) the
			 execution of any contract for the purchase or sale of capacity in, or
			 energy from, any electrical generation or transmission facility
			 located within the State of Vermont provided that such contracts are
			 more than five years in duration;
(D) the execution of any contract
			 for the purchase or sale of capacity in, or energy from, any
			 electrical generation or transmission facility, provided that such
			 contract is more than six months in duration and:
(1) for a utility with a peak load,
			 within the previous calender year, greater than 100 MW, represents
			 more than 25% of the utility's peak load; or
(2) for a utility with a peak load,
			 within the previous calender year, of 100 MW or less, represents more
			 than 50% of the utility's peak load.
5.203 Sufficiency of
			 Notice
For purposes of section
				5. 202,
				notice shall include a copy of the proposed contract. Notice from one
				of the parties to any transaction specified in section 5.202 is
				sufficient.
5.204
			 Requests for Reduction of Time or Waiver of Notification
(A) An electric utility submitting
			 a written notice under section 5.202 may incorporate therein a
			 request for a reduction in or waiver of the period of advance notice
			 requested and required for the commitment proposed therein, and the
			 Public Service Board will consider and address any such request
			 expeditiously.
(B) Any
			 reduction in or waiver of the period of advance notice granted under
			 this section shall not constitute Public Service Board approval or
			 review of any contractual commitment or transaction.
5.205 Extent of
			 Contractual Commitment
For the purpose of this Rule, a letter of
				intent signed by or on behalf of two or more parties is deemed to be
				a contractual commitment.
5.206 Reporting Power Supply
			 Transactions
(A) Each private,
			 municipal, and cooperative electric utility must file, with the
			 Public Service Board and the Department of Public Service,
			 after-the-fact reports of power supply transactions, including
			 transactions involving generation and transmission facilities, within
			 30 days following the end of each calendar quarter. The format of
			 these quarterly reports shall be as designated by the Public Service
			 Board.
(B) Each private,
			 municipal, and cooperative electric utility must file by January 30th
			 of each year, but no earlier than the preceding November 1st, with
			 the Public Service Board and the Department of Public Service, a
			 Resource Report generally reflecting the utility's power supply needs
			 and acquisition strategy. The Resource Report must, at a minimum,
			 address what resource transactions the utility reasonably expects to
			 enter into during the ensuing year, regardless of the length of the
			 transactions. The Resource Report must include:
(1) a general description of the
			 products that the utility expects to purchase or sell;
(2) anticipated quantities of each
			 product;
(3) anticipated
			 price ranges for each product;
(4) an estimate of the timing of
			 each transaction contemplated; and
(5) anticipated transactions
			 involving generation and transmission facilities.
The time period covered by the Resource Report shall
				be commensurate with the duration of the longest-term transaction
				contemplated in the Report, but not less than one year. An amendment
				must be filed with the Public Service Board and the Department of
				Public Service in the event of any material change in the utility's
				resource requirements or the resource transactions which the utility
				has entered into.
(C) Due to the potentially
			 confidential nature of the reports to be filed under this section,
			 the utility may file both confidential and non-confidential reports
			 as required by this section. Any confidential report must be
			 accompanied by a nonconfidential explanation justifying confidential
			 treatment of the report.
(D) The reports required under this
			 section are independent of, and do not replace, the least-cost
			 integrated plans that electric utilities are required to file with
			 the Public Service Board under 30 V.S.A. § 218c.30 V.S.A.
			 §§
												2(c),
			 209