Our Energy Portfolio

Our Energy Portfolio

The information below shows which resources provided BED’s energy supply in 2019. BED’s ability to claim that the energy used by its customers is renewable is affected by sales and purchases of Renewable Energy Credits (REC’s).

January-December 2019

Winter Peak MW 51.6      
Summer Peak MW 60.5      
Energy Use (MWH) 331,721      
         
Resource Fuel Type Location Capacity (MW) Energy (MWH)
McNeil Wood Vermont 25.0 113,624
Hancock Wind Maine 13.5 38,592
Sheffield Wind Vermont 16.0 31,048
Georgia Mountain Community Wind Vermont 10.0 27,561
Hydro-Québec Large Hydro Quebec n/a 29,199
NYPA Large Hydro New York 2.6 19,211
Brookfield Medium Hydro Maine n/a 12,800
Winooski One Small Hydro Vermont 7.4 33,233
VEPPI Small Hydro Vermont 2.5 1,745
Great River Hydro Small Hydro Vermont n/a 43,800
Burlington Solar Vermont 3.4 5,002
BED Gas Turbine Oil Vermont 22.0 80
Short Term Purchases Net of Short Term Sales Various (system mix) New England n/a 0
ISO New England Exchange – Net Various (system mix) New England n/a -24,654
Net Resales Various (system mix) New England n/a 0
         
Total Net Purchases       355,895

CY 2019 BED Energy Supply by Source

Sources

BED Fuel Types and Renewability

CY 2019 Prior to Renewable Attribute “REC” Sales and Purchases

Sales of the right to claim renewability, called Renewable Energy Credits or REC’s, are allowed under BED’s integrated resource plan. REC sales help BED control the rate impacts of purchasing renewable resources (which are generally more expensive than the non-renewable alternatives). BED receives a portion of its energy through ownership in, or contract for, renewable resources before it sells or buys REC’s. Sales of such rights affect BED’s claim to what portion of the energy it provides to its customers is renewable. This avoids double counting since the purchasers of these rights will have the right to claim the renewability. For CY2018, before BED sold RECs, renewable resources provided over 100% of the total energy used by BED. Renewable resources are inherently variable, so the amount of production in any year will fluctuate.

As BED generated and purchased more renewable energy than was used by all of Burlington, there were no short term energy purchases or ISO-NE Exchange position in the graph below.

CY 2019 BED Fuel Types – Prior to REC Transactions

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CY 2019 After Accounting for Renewable Attribute “REC” Sales

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Renewable resources are almost invariably more expensive than non-renewable resources, and REC’s have become an important cost reducing tool for the renewable electricity market. The sale of REC’s allows BED to support and generate new renewable resources, while controlling costs by selling REC’s to other entities. In CY2018 BED sold REC’s representing over 240,000 MWh of generation and received revenues of $7,360175 – equal to roughly 13% of its cost of service. As mentioned above, after making such sales, BED has to revise the amount of energy it claims as renewable. This is the reason for the increase in the natural gas, nuclear, coal and oil “pie slices” from the above graph, to the one shown below.

After Accounting for Renewable Attribute “REC” Sales and Purchases

BED can reclaim renewability by purchasing Class II renewable energy credits from the renewable resource market (at prices significantly lower than Class I REC sales). Contracting for the purchase of REC’s created from a particular type of renewable resource (like small hydro), allows BED to return to a more positive renewable position as shown in graph below, while still placing some pressure on the markets to create additional renewable resources.

For 2019, between RECs reserved/retired on BED’s own behalf, BED reserved/retired approximately 17,000 RECs in excess of its 2018 sales of 333,764 MWh. In total, BED reserved/retired 351,517 RECs from hydroelectricand solar resources. BED retired RECs in excess of sales to customers in order to account for distribution and transmission losses along with company use.

CY 2019 BED Renewability – Including REC Sales & Purchases

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