Beatrice Lang
Vermont has 17 electric distribution companies, including Vermont Electric Cooperative (VEC), a consumer-owned electric distribution cooperative. In 2019, VEC served about 34,000 members in 74 towns in northern Vermont, including Addison, Caledonia, Chittenden, Essex, Franklin, Grand Isle, Lamoille, and Orleans counties. VEC offers a range of programs to its members, including bill credits for purchasing certain electric appliances and devices, and Co-op Community Solar, a program where members can sponsor solar panels in community solar arrays.
| Characteristics | Values |
|---|---|
| Type | Member-owned rural electric cooperative |
| Number of Members | 34,000 (as of 2019) |
| Areas Served | 74 towns in northern Vermont, including Addison, Caledonia, Chittenden, Essex, Franklin, Grand Isle, Lamoille, and Orleans counties |
| Headquarters | Johnson, Vermont |
| Founding Year | 1938 |
| Founding Location | Eden Mills, Vermont |
| Founding Purpose | To serve residents in parts of rural Lamoille County who had been bypassed by investor-owned utilities |
| Programs | Co-op Community Solar, bill credits for purchasing certain electric appliances and devices |
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What You'll Learn
Vermont Electric Cooperative's history
Vermont has 17 electric distribution companies, which include investor-owned utilities, municipal electric departments, and member-owned rural electric cooperatives. Vermont Electric Cooperative (VEC) is a member-owned cooperative that was founded in 1938 in Eden Mills to serve residents in parts of rural Lamoille County who had been overlooked by investor-owned utilities. The Rural Electrification Act financed most of the cooperative's early growth.
Early service was extended to Chittenden and Franklin counties. In the 1940s, the cooperative expanded its service area in northern Vermont through the construction of new lines and the acquisition of small private companies. In 1969, VEC expanded into southern Vermont by merging with Halifax Electric Cooperative. A year later, in 1970, the cooperative acquired the International Electric Company, serving Derby Line.
In 2004, VEC acquired Citizens Communications Company's Vermont Electric Division, more than doubling its membership base. Two years later, however, VEC sold its Southern District in Windham and Windsor counties to Central Vermont Public Service, reducing its membership by 2,770. In 2016, VEC launched Co-op Community Solar, a program that allows members to sponsor solar panels in community solar arrays and receive a fixed monthly credit on their electric bill.
As of 2019, VEC serves about 34,000 members in 74 towns in northern Vermont, including Addison, Caledonia, Chittenden, Essex, Franklin, Grand Isle, Lamoille, and Orleans counties. The cooperative offers various programs to its members, including bill credits for purchasing certain electric appliances and devices.
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Towns and counties served
Vermont Electric Cooperative (VEC) is a consumer-owned electric distribution cooperative that serves about 34,000 members in 74 towns in northern Vermont. The cooperative was founded in 1938 in Eden Mills to serve residents in parts of rural Lamoille County who had been overlooked by investor-owned utilities.
The Rural Electrification Act financed most of the cooperative's growth in its early years. Initially, VEC's service was extended into Chittenden and Franklin counties. From the 1940s to the early 1960s, the cooperative expanded in northern Vermont by constructing new lines and acquiring small private companies.
In 1969, VEC expanded into southern Vermont by merging with Halifax Electric Cooperative. The following year, the cooperative acquired the International Electric Company, serving Derby Line. In 2004, VEC acquired Citizens Communications Company's Vermont Electric Division, more than doubling its membership base. Two years later, the cooperative sold its Southern District in Windham and Windsor counties to Central Vermont Public Service, reducing its membership by 2,770.
Towns served by VEC include Averill, Avery's Gore, Barton, Bloomfield, Brighton, Brownington, Brunswick, Canaan, Charleston, Coventry, Derby, Ferdinand, Guildhall, Holland, Jay, Lemington, Lewis, Lowell, Maidstone, Morgan, Newark, Norton, Sheffield, Sutton, Warner's Grant, Warren Gore, Westmore, Westfield, and many others. Districts served by VEC include parts of Caledonia, Chittenden, Essex, Franklin, Grand Isle, Lamoille, and Orleans counties.
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Membership numbers
Vermont has 17 electric distribution companies, which can be categorized into three types: investor-owned utilities (1), municipal electric departments (14), and member-owned rural electric cooperatives (2).
The Vermont Electric Cooperative (VEC), a consumer-owned electric distribution cooperative, is one of the two member-owned rural electric cooperatives. It is headquartered in Johnson, Vermont, and was founded in 1938 in Eden Mills to serve residents in parts of rural Lamoille County that were bypassed by investor-owned utilities.
In 2019, VEC served about 34,000 members in 74 towns in northern Vermont, including Addison, Caledonia, Chittenden, Essex, Franklin, Grand Isle, Lamoille, and Orleans counties. Over the years, VEC has expanded its territory through the construction of new lines and the acquisition of small private companies. In 2004, VEC acquired Citizens Communications Company's Vermont Electric Division, more than doubling its membership base. However, in 2006, VEC sold its Southern District in Windham and Windsor counties, reducing its membership by 2,770.
VEC holds annual member meetings to discuss key topics, such as their electricity procurement strategy and their Community Solar program, which allows members to sponsor solar panels in community solar arrays.
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Electricity procurement strategy
Vermont has 17 electric distribution companies, which include investor-owned utilities, municipal electric departments, and member-owned rural electric cooperatives. One notable member-owned cooperative is the Vermont Electric Cooperative (VEC), which provides safe, affordable, reliable, and sustainable energy services to its members.
As for VEC's electricity procurement strategy, it involves navigating a clean power supply by choosing certain types of power, such as wind, solar, natural gas, and biomass, from the regional wholesale electricity market. This strategy considers both climate-related goals and affordability.
Now, let's discuss some general principles of electricity procurement strategy, which can be applied to a context like Vermont Electric:
Understanding Energy Procurement
Energy procurement is a strategy to source optimal energy contracts for an organization. It involves evaluating various suppliers, considering financial stability, and assessing how their charges may impact the organization. It is about securing the right price and terms for energy procurement, which can be a significant overhead for any business.
Benefits of Energy Procurement Strategy
A well-defined strategy can help mitigate risks and ease operational pressures. It can also ensure that the energy plan aligns with the organization's needs, values, and risk management requirements. For instance, in the case of VEC, their strategy focuses on clean energy sources while also keeping prices affordable for their members.
Steps to Develop an Effective Strategy
Firstly, understand your organization's objectives, future requirements, and areas that need improvement. Then, evaluate your market position and the associated risks, considering market volatility and stakeholder management. After this, document the link between your procurement strategy and your corporate goals. Finally, when selecting suppliers, focus on building trust and ensuring they support your company's strategy and risk management.
Monitoring and Adjusting
Regularly monitor your energy usage and spending to ensure your strategy remains effective. This can help identify if adjustments are needed to meet your objectives, whether they are cost-saving or energy reduction targets. It is beneficial to have energy brokers or consultants guide and support you through this process.
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Community initiatives
Vermont has three types of electric utilities: investor-owned, municipal electric departments, and member-owned rural electric cooperatives. Vermont Electric Cooperative (VEC), a member-owned utility, serves over 33,000 members in 75 communities.
VEC has several community initiatives, one of which is the Community Fund. The fund has distributed more than 200 grants, totaling over $160,000, to local food pantries and nonprofits in Northern Vermont. The fund has supported food shelves in Grand Isle, Burlington, and Starksboro, as well as the Fairfield Community Center. The grants have helped provide essential resources to those struggling with food insecurity. The fund is made possible by contributions from VEC's members, who choose to round up their electric bills or donate refunds.
The VEC Community Fund has four focus areas for its grants: economic security, emergency and disaster relief, sports and development, and food security. Any local nonprofit can apply for a grant, and VEC awards grants multiple times a year. The fund has also supported youth leadership and workforce development initiatives, flood recovery efforts, and emergency aid.
In addition to the Community Fund, VEC has also supported other community initiatives. For example, VEC has been testing the use of drones for proactive line inspections to help catch issues before they cause damage or unplanned outages. VEC has also provided incentives for its members to reduce fossil fuel use and transition to electric vehicles. These initiatives include rebates for the purchase of Electric Vehicle Supply Equipment (EVSE) chargers and incentives for EV charging at homes and businesses.
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Frequently asked questions
Vermont Electric Cooperative served about 34,000 members in 2019.
Vermont Electric Cooperative, also known as Vermont Electric Coop or VEC, is a consumer-owned electric distribution cooperative. It was founded in 1938 to serve residents in parts of rural Lamoille County who had been bypassed by investor-owned utilities.
Vermont Electric Cooperative serves 74 towns in northern Vermont, including Addison, Caledonia, Chittenden, Essex, Franklin, Grand Isle, Lamoille, and Orleans counties.
