§ 8008. Agreements; attribute revenues; disposition by Commission

(a) As used in this section, "the revenues" means revenues that are from the sale, through tradeable renewable energy certificates or other means, of environmental attributes associated with the generation of renewable energy from a system of generation resources with a total plant capacity greater than 200 MW and that are received by a Vermont retail electricity provider on or after May 1, 2012, pursuant to an agreement, contract, memorandum of understanding, or other transaction in which a person or entity agrees to transfer such revenues or rights associated with such attributes to the provider.

(b) After notice and opportunity for hearing, the Commission shall determine the disposition, allocation, and use of the revenues in a manner that promotes State energy policy as stated in section 202a of this title and the goals of this chapter and supports achievement of the greenhouse gas reduction and building efficiency goals contained in 10 V.S.A. §§ 578(a) and 581.

(1) The Commission shall provide notice of the proceeding to each Vermont retail electricity provider, the Department, the Clean Energy Development Board under 10 V.S.A. § 6523, each fuel efficiency service provider appointed under subsection 203a(b) of this title, each energy efficiency entity appointed under subdivision 209(d)(2) of this title, the Institute for Energy and the Environment at the Vermont Law School, the Transportation Research Center at the University of Vermont, and any other persons or entities that have requested notice. The Commission may provide notice to additional persons or entities.

(2) In determining the disposition, allocation, and use of the revenues, the Commission shall consider each of the following potential uses of the revenues:

(A) Development of in-state renewable energy resources.

(B) Deposit into the Clean Energy Development Fund for use pursuant to section 8015 of this title.

(C) Deposit into the Fuel Efficiency Fund for use pursuant to section 203a of this title.

(D) Deposit into the Electric Efficiency Fund for use pursuant to section 209(d) of this title.

(E) Application, for the benefit of ratepayers, to the revenue requirement of one or more Vermont retail electricity providers.

(F) Development of transportation alternatives to vehicles that use gasoline such as electric or natural gas vehicles and supporting infrastructure and the coordination of such development with so-called "smart grid" electric transmission and distribution networks.

(G) Any other uses that support the statutory policy and goals referenced in this subsection (b).

(c) A Vermont retail electricity provider shall notify the Commission within 30 days of the first receipt of the revenues pursuant to an agreement, contract, memorandum of understanding, or other transaction under which it will receive the revenues. The Commission will open a proceeding under this section promptly on receipt of such notice and shall issue a final order in the proceeding within 12 months of such receipt.

(d) Any of the revenues that are received prior to completion of the 12-month period described in subsection (c) of this section shall be credited, for the benefit of ratepayers, against the revenue requirement of the Vermont retail electricity provider that receives the revenues. (Added 2009, No. 159 (Adj. Sess.), § 13b, eff. June 4, 2010; amended 2011, No. 47, §§ 18, 20m(a); 2017, No. 74, § 127.)