SOURCE: Green Mountain Power

Green Mountain Power

April 10, 2009 11:01 ET

GMP Reduces Renewable Energy Premium for Customers by 25%

Change Lowers Cost to Ratepayers Choosing to Support Green Energy

COLCHESTER, VT--(Marketwire - April 10, 2009) - It just got a little cheaper for Green Mountain Power customers to support new renewable energy. The Vermont Public Service Board approved GMP's request to lower the premium its customers voluntarily pay to support the development of renewable energy in Vermont. Under the GreenerGMP program, customers can now opt to pay three cents per kilowatt hour more than their normal rate to support renewable energy projects. The fee had been four cents per kWh.

"Our GreenerGMP program gives our customers the opportunity to support Vermont renewable energy projects. By lowering the cost, we hope that more customers will be able to participate," said GMP president and chief executive officer Mary Powell.

Funds generated by GreenerGMP are used to support the methane gas project at the Moretown Landfill and biomass at the McNeil plant. In addition, beginning this spring, funds will support a farm-based methane digester in Westminster, Vermont.

Green Mountain Power supports renewable projects by purchasing the power and the Renewable Energy Credits they generate. Green Mountain Power recently negotiated lower priced Renewable Energy Credits from projects supporting the program and wanted the GreenerGMP rate to reflect that.

"Green Mountain Power is looking at many ways to increase renewable generation in Vermont. Participating in GreenerGMP gives our customers a way to act on their own commitment to reducing greenhouse gas emissions and helps support the development of new projects in Vermont," said Ms. Powell. "We hope to add new resources, such as wind and solar, in the near future," she added.

Under the GreenerGMP program, the Company purchases certified renewable Vermont resources equal to 25%, 50%, 75% or 100% of a customer's electricity use as directed by the customer. Under the approved renewable energy rate of three cents per kWh, a residential customer with a $76 monthly bill would pay an additional $3.75 per month to have one-quarter of his or her usage come from renewable energy.

About Green Mountain Power

Green Mountain Power (www.greenmountainpower.com) transmits, distributes and sells electricity and utility construction services in the State of Vermont in a service territory with approximately one quarter of Vermont's population. It serves more than 200,000 people and businesses.

Contact Information

  • For further information, please contact
    Dorothy Schnure
    Green Mountain Power Manager of Corporate Communications
    802-655-8418