The electric sector across the country is remarkable for its scale, reliability, and its relative pricing and technology stability over the last century. However, the industry is rapidly evolving as new technologies are adopted by an increasingly technology-oriented customer base. Evolution in technology, the expansion of wholesale power markets with independent transmission organizations, environmental concerns, and state and local mandates for change are driving innovation in utilities' efforts in recovering and managing the cost of providing reliable electric service. How customers adopt technologies and how utilities, regulators, and other entities respond to the future reality will change the manner in which utilities operate and policymakers regulate the sector.
In September 2019, the Vermont Department of Public Service retained the services of NewGen to assist with an Advanced Rate Design Initiative Study (Study). The purpose of the Study was to analyze innovative retail rate applications and other forms of load control programs for electric utilities in the State of Vermont in response to the anticipated rapid adoption of emerging technologies (i.e., electrification load, customer-sited generation, and energy storage). This Study is premised on the view that load control programs can support Vermont in achieving its energy objectives while containing costs.
NewGen submitted the final Innovative Rate Design report to the Department in August 2020, which is available at https://publicservice.vermont.gov/content/rate-design-initiative-final-report .
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