The Vermont Public Service Board (PSB) has issued its draft utility restructuring plan, proposing competitive wholesale and retail markets for generation with regulated monopolies for transmission and distribution (Docket No. 5854). The state's largest investor-owned utilities would be required to functionally separate their generation and distribution functions into corporate subsidiaries.The plan builds on the Vermont Restructuring Principles adopted by the PSB last May.
Retail customer choice is scheduled as early as January 1, 1998. All companies selling electricity at retail would be required to secure a minimum percentage of their sales from renewable resources. Tradeable credits would be earned through the sale of renewable energy to end users.
The PSC also has proposed creating an independent system operator and establishing a regional power exchange to provide a short-term spot market for energy services.