Introductory Stakeholder Workshops July 8, GMP Montpelier Service Center July 14, GMP Rutland Operations Headquarters

GMP-CEED Fund 2016

Introductory Stakeholder Workshops

July 8, GMP Montpelier Service CenterJuly 14, GMP Rutland Operations Headquarters

2

Welcome & Agenda Review

CEED Fund Overview

Stakeholder Proposal Process

Proposal Review Process

Stakeholder Q&A

Adjourn

Agenda for Today’s Workshop

3


CEED Fund Overview



Stakeholder Q&A

Adjourn


4

CEED Fund Overview

Total of $21M to be invested:

$6M (W) by 12/1/12

$4M (W) by 12/1/13

*$2M (T) by 12/1/13

$9M (O) by 12/31/17

$10M

$2M

$9M

VT Weatherization Program (W)

Thermal Efficiency (T)

Other Projects (O)

CEED Fund created in CVPS/GMP merger docket

* for customers who do not qualify for VT’s Weatherization program

CEED Fund Overview

5

Elec-tric

$1,198,000 37%

Thermal $2,023,258

63%

2013 Annual Plan by Investment Type

Commer-cial

$1,509,789 47%

Res-iden-tial,

$1,711,469 53%

2013 Annual Plan by Customer Class

Com

mercial, $2,140,750 84%

Residen-tial $421,631

16%


Electric

, $2,057,000

80%

Therma

l, $505,381 20%


Commercial $3,473,797 100%


Elec-tric, $3,098,797,

89%

New Tech

, $375,00

0, 11%


CEED Fund Overview

6

Resi-den-tial,

$173,511,6

3544%

Commercial $143,963,59837%

Indus-trial,

$76,575,67019%

Customer Class Breakdown

Commercial, $7,065,139

38%

Res-idential, 11,686,483

62%

Currently Committed Funds by Customer Class

Electric, $6,353,797 34%

Therma

l, $12,022,825 64%

New

Technolo-

gies$375,0002%

Currently Committed Funds by Investment Type

7

VT State Efficiency programs◦ $6M Weatherization Program (2012)◦ $4M Weatherization Program (2013)

2013 Stakeholder Process◦ $2M Thermal Efficiency

Home Performance with Energy Star (VEIC) Business Existing Facilities (VEIC) Condominium Efficiency (Shelter Analytics) Cold-Climate Heat Pumps (VEIC)

◦ $1.2M Electric Efficiency EverGreen Revolving Loan Fund (VEIC) Greenhouse Biomass (VT Agency of Agriculture) Direct Install Farm Efficiency (EnSave)

◦ Other Evaluate State Screening Tool for Renewables (GEEG, Seddon)

Current Investments Deployed

8

2014 Stakeholder Process

◦ $1.775M Electric Efficiency Business Existing Facilities (VEIC) EverGreen Revolving Loan Fund (VEIC)

◦ $282k Innovation (deferred to 2015) Farm-Phosphorous runoff mitigation (NativeEnergy)

◦ Continuation of some 2013 programs


9

2015 Stakeholder Process◦ $3.09M Electric Efficiency

Business Existing Facilities (VEIC) EverGreen Revolving Loan Fund (VEIC) Ozone Laundry Retrofits (EnSave)

◦ $375k New Technologies Farm-Phosphorous runoff mitigation (NativeEnergy) EV Charging Stations in Downtowns (VEIC)


10

Eligible Investments◦ New and existing electric efficiency programs;

◦ Renewable and clean energy programs;

◦ Demand Resources; and

◦ New and emerging technologies

◦ Primary Target for 2016 remains commercial sector electrical efficiency and innovative investments, HOWEVER, CEED is nearing its overall NSB targets and new technology & innovative programs can play an expanded role

CEED Fund Overview

11

Investments must achieve Net Societal Benefits (NSB) of at least 1.2 times the amount invested

“But/For” test - investment or project would not otherwise have been undertaken or fully funded absent the CEED Fund investment

Benefits/investments accrue to legacy CVPS customers in approximate proportion to customer class revenue

Appropriate investments identified through stakeholder process

CEED Fund Requirements

12


CEED Fund Overview



Stakeholder Q&A

Adjourn


13

GMP invites potential partners to propose their best ideas for achieving maximum customer benefits under the program

Stakeholder process is collaborative, but also competitive -- limited funds are available for efficiency investments

Stakeholders will present proposals for discussion at the August workshops

Francis Wyatt of Green Energy Economics Group - energy efficiency and planning tool expert will assist GMP in assuring stakeholder proposals are fairly evaluated

GMP will solicit input and recommendations from stakeholders on proposed investments

All participants will get feedback on their proposals from GMP (not other participants)

Proposal guide and worksheet available for participants

Deadlines for submitting proposals will be strictly observed


14

Workshop aids are available on the GMP website to help stakeholders participate◦ Workshop Slide Deck

◦ Participant Proposal Guide

◦ Proposal Questionnaire (attached to Proposal Guide)

◦ 2012 GMP Efficiency Fund Report

If stakeholders find valuable, GMP will conduct an NSB workshop to assist stakeholders in understanding and working with the state planning tool

Q&A to be posted on GMP website and updated as new questions come in

http://www.greenmountainpower.com/innovative/ceed_fund/


15

Proposed Schedule

Wednesday, July 8, 2015 Tuesday, July 14, 2015 Tuesday, July 21, 2015 Friday, August 21, 2015

Introductory Workshop #1 Introductory Workshop #2NSB Workshop

(if desired by Stakeholders)Stakeholders Submit Program

Proposals

Days Between Milestones 6 7 31

Tuesday, September 8, 2015 Friday, September 25, 2015 Wednesday, October 7, 2015 Friday, October 30, 2015

Project Review Meeting Stakeholder Comments Due GMP Finalizes Program SelectionFile 2015 Annual Plan with

PSB

18 17 12 23

16


CEED Fund Overview



Stakeholder Q&A

Adjourn


17

Investment criteria consistent with PSB CEED Fund requirements

Aggregate costs subtracted from aggregate benefits◦ Costs include: CEED investment, participating customer investment,

project delivery costs, performance monitoring, benefits measurement and reporting and any other administrative cost charged by any party relating to the investment.

◦ Benefits include: Energy and capacity savings, avoided infrastructure investments, reduced supply risk, savings as compared to other technologies, environmental benefits, economic development benefits and other customer benefits.

A variety of factors will inform which projects are selected including the amount of NSB, number of customers served, customer class, certainty and promptness of achieving benefits, etc.

Proposal Review

18

Discussion, Questions & Comments

Today’s Workshop

Documents

Introductory Stakeholder Workshops July 8, GMP Montpelier Service Center July 14, GMP Rutland Operations Headquarters