Rates and Energy Assistance Update for Fiscal Year 2023
As customers know, last year Burlington Electric Department had our first rate increase in 12 years, coming out of the pandemic. At that time, we committed to our customers that, while we likely would need more frequent rate changes going forward, we would seek to have them be more moderate compared to last year’s 7.5 percent.
This year, we are proposing a 3.95 percent rate change, which would take effect as a surcharge on customer bills starting in August 2022. This rate change is significantly lower than current inflation rates. We were able to reduce upward rate pressure this year because of our Net Zero Energy Revenue Bond providing an important financing source for key infrastructure projects, and through recent strong performance from our renewable generation plants, including the McNeil Generating Station. The proposed rate change will help Burlington Electric continue to provide the reliable power on which our community depends and to invest in our infrastructure and workforce.
At the same time, we want to ensure that we provide support for our low-income customers who need assistance. That is why last year we launched our first-ever temporary Energy Assistance Program. This year, starting in July, we are boosting our Energy Assistance Program to provide a 12.5 percent discount for eligible participating customers. This will more than offset the rate changes from last year and this year combined.
BED continues to encourage our low-income customers who are enrolled in the State of Vermont Fuel Assistance Program or federal Housing Choice Voucher (Section 8) Program to apply for BED’s Energy Assistance Program using the form below.
Further, we encourage customers to learn about opportunities to save energy and money through efficiency measures by connecting with our Energy Services team for a free consultation.