quarterly report to the · (802) 658‐1643 fax. ... winter peak coincident kw savings results....
TRANSCRIPT
QUARTERLY REPORT TO THE
VERMONT PUBLIC SERVICE BOARD
FOR THE PERIOD
JULY 1 TO SEPTEMBER 30, 2016
128 LAKESIDE AVENUE, SUITE 401 BURLINGTON, VERMONT 05401
(888) 921‐5990
WWW.EFFICIENCYVERMONT.COM
Quarterly Report Table of Contents
Efficiency Vermont Third Quarter 2016 Budget Variance and Performance Report 1
1. Efficiency Vermont Budgets and Performance – July 1-September 30, 2016 1
2. Electric Resource Acquisition Spending 4
3. Resource Acquisition Research-and-Development 5
4. Thermal Resource Acquisition Spending 5
5. Development and Support Services 6
Activity Highlights 9
1. Services to Business, Institutional & Municipal Facilities 9
1.1 Vermont’s Largest Energy Users 9
1.2 Small and Medium-Sized Businesses 9
1.3 Targeted Markets 9
1.4 Key Commercial Technologies 10
2. Services to Homes 11
2.1 Existing Market-Rate Homes 11
2.2 Existing and New Low-Income Housing 11
3. Activities in Service to Multiple Customer Sectors 12
3.1 New Construction Services 12
3.2 Retail Efficient Product Services 12
3.3 Services to Contractors 13
3.4 Community-Based Activities 14
3.5 Financial Services 14
3.6 Resource Acquisition Research & Development 14
4. Development and Support Services 16
4.1 Education and Training 16
4.2 Applied Research and Development 17
4.3 Planning and Reporting 19
4.4 Evaluation 19
4.5 Policy and Public Affairs 20
4.6 Information Technology 21
4.7 General Administration 22
5. Data Tables 23
1
Efficiency Vermont Third Quarter 2016 Budget Variance and Performance Report
1. Efficiency Vermont Budgets and Performance – July 1-September 30, 2016
2
3
1 Annual budget components are provided for information purposes only. Efficiency Vermont operates under a total three-year budget.
Budget
Current Year
(2016)
Actual
Current Year
(2016) %
RESOURCE ACQUISITION % of Year Expired 75%
Electric Efficiency Funds Activities
Business Sector 20,440,100$ 11,306,361$ 55%
Customer Credit 1,496,300$ 235,570$ 16%
Residential Sector 19,400,000$ 11,778,201$ 61%
Research & Development 2,721,300$ 1,448,654$ 53%
Total Electric Efficiency Funds Activities 44,057,700$ 24,768,786$ 56%
Thermal Energy and Process Fuels Funds Activitie
Business Sector 1,665,490$ 462,789$ 28%
Residential Sector 4,996,470$ 2,512,866$ 50%
Total Thermal Energy and Process Fuels Funds Activities 6,661,960$ 2,975,655$ 45%
TOTAL RESOURCE ACQUISITION 50,719,660$ 27,744,441$ 55%
DEVELOPMENT AND SUPPORT SERVICES Education and Training 854,700$ 481,742$ 56%
Applied Research and Development 411,800$ 293,513$ 71%
Planning and Reporting 614,300$ 327,144$ 53%
Evaluation 897,600$ 611,159$ 68%
Policy and Public Affairs 502,900$ 404,038$ 80%
Information Technology 1,199,000$ 1,200,852$ 100%
General Administration 266,600$ 156,732$ 59%
TOTAL DEVELOPMENT AND SUPPORT SERVICES 4,746,900$ 3,475,181$ 73%
4
2. Electric Resource Acquisition Spending
Resource Acquisition (RA) Qtr 1 Qtr 2 Qtr 3
Forecast $9,532,050 $19,064,100 $29,462,700
Actual $7,855,079 $15,954,624 $24,974,814
Variance Over/(Under) ($1,676,971) ($3,109,476) ($4,487,886)
% Over/(Under) -18% -16% -15%Forecast $1,519,028 $2,712,550 $4,340,200
Actual $961,105 $1,947,458 $3,029,217
Variance Over/(Under) ($557,923) ($765,092) ($1,310,983)
% Over/(Under) -37% -28% -30%
Development and Support Services Qtr 1 Qtr 2 Qtr 3
Forecast $1,208,025 $2,271,087 $3,334,149
Actual $1,210,560 $2,371,181 $3,537,734
Variance Over/(Under) $2,535 $100,094 $203,585
% Over/(Under) 0% 4% 6%
Qtr 1 Qtr 2 Qtr 3
Forecast $12,259,103 $24,047,737 $37,137,049
Actual $10,026,744 $20,273,263 $31,541,765
Variance Over/(Under) ($2,232,359) ($3,774,474) ($5,595,284)
% Over/(Under) -18% -16% -15%
Combined EEC & TEPF
Total Efficiency Vermont
Electric Efficiency Charge
(EEC) excluding Customer Credit
Thermal Energy and Process Fuels
(TEPF)
5
3. Resource Acquisition Research-and-Development
4. Thermal Resource Acquisition Spending
6
5. Development and Support Services
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2 An API allows disparate software platforms to speak to one another (e.g. the Navigator and TRM applications have an API that allows for the two applications to interface with each other)
9
Activity Highlights
1. Services to Business, Institutional & Municipal Facilities
1.1 Vermont’s Largest Energy Users
o
o
o
1.2 Small and Medium-Sized Businesses
1.3 Targeted Markets
10
1.4 Key Commercial Technologies
11
2. Services to Homes
2.1 Existing Market-Rate Homes
2.2 Existing and New Low-Income Housing
12
3. Activities in Service to Multiple Customer Sectors
3.1 New Construction Services
3.2 Retail Efficient Product Services
13
o
o
o
o
3.3 Services to Contractors
14
3.4 Community-Based Activities
o
o
3.5 Financial Services
3.6 Resource Acquisition Research & Development
15
16
4. Development and Support Services
4.1 Education and Training
o
o
17
4.2 Applied Research and Development
18
19
4.3 Planning and Reporting
4.4 Evaluation
was
20
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o
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4.5 Policy and Public Affairs
21
4.6 Information Technology
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22
•
4.7 General Administration
128 Lakeside Avenue, Suite 401Burlington, VT 05401
(888) 921‐5990 Toll‐Free(802) 658‐1643 Fax
2015 ‐ 2017
Reporting period: 2016 September Quarterly
Resource Acquisition CategoryTotal
Efficiency VermontResource Acquisition
Thermal Energy and Process Fuels
Resource Acquisition
Electric Resource Acquisition
Efficiency Vermont CostsCosts for Quarter $9,486,922 $1,081,759 $8,405,163Year to Date Costs $26,533,129 $3,029,217 $23,503,913Annual Budget Estimate1 $47,339,075 $6,781,875 $40,557,200Unspent Annual Budget Estimate $20,805,946 $3,752,659 $17,053,287% Annual Budget Estimate Unspent 44% 55% 42%Other CostsParticipant Costs for Quarter $8,120,145 $2,327,810 $5,792,335Participant Costs Year to Date $23,323,118 $6,464,651 $16,858,467Third Party Costs for Quarter ($16,966) $7,906 ($24,872)Third Party Costs Year to Date ($73,026) $32,988 ($106,014)MWh Savings ResultsMWh for Quarter 24,210 32 24,179MWh Year to Date 69,740 ‐54 69,793MWh cumulative starting 1/1/15 173,877 ‐914 174,791Winter Peak Coincident kW Savings ResultsWinter Coincident Peak kW for Quarter 4,175 5 4,170Winter Coincident Peak kW Year to Date 12,680 47 12,634Winter Coincident Peak kW Starting 1/1/15 30,844 22 30,822Summer Peak Coincident kW Savings ResultsSummer Coincident Peak kW for Quarter 2,835 0 2,835Summer Coincident Peak kW Year to Date 7,447 ‐16 7,463Summer Coincident Peak kW Starting 1/1/15 19,282 ‐65 19,347Total Resource Benefits (TRB) Savings ResultsTRB for Quarter $27,102,803 $4,064,562 $23,038,241TRB Year to Date $81,714,832 $10,302,485 $71,412,347TRB Starting 1/1/15 $211,088,679 $27,816,670 $183,272,009MMBtu Savings ResultsMMBtu for Quarter 28,018 22,827 5,192MMBtu Year to Date 64,076 48,524 15,553MMBtu Starting 1/1/15 156,776 95,536 61,239Participation Partic.w/ installs for Quarter 15,699 713 14,986Partic.w/ installs Year to Date 49,594 2,285 47,309Partic.w/ installs cumulative starting 1/1/15 138,026 4,962 133,064
1 Annual projections are estimates only and provided for informational purposes. For details regarding ISO‐New England Regional Capacity Activities see FCM Quarterly report.This report does not contain results for the Customer Credit Program.
Resource Acquisition SummaryElectric & Thermal Energy and Process Fuels
23
Budget Current Year
(2016)
Actual Current Year
(2016) %Budget
2015‐2017 Actual
2015‐2017 % RESOURCE ACQUISITION % of Year Expired 75% % of Period Expired 58%Electric Efficiency Funds ActivitiesBusiness Sector 20,440,100$ 11,306,361$ 55% 81,805,167$ 33,007,749$ 40%Customer Credit 1,496,300$ 235,570$ 16% 3,027,960$ 737,889$ 24%Residential Sector 19,400,000$ 11,778,201$ 61% 45,561,683$ 32,042,331$ 70%Research & Development 2,721,300$ 1,448,654$ 53% 5,004,067$ 2,525,263$ 50%Total Electric Efficiency Funds Activities 44,057,700$ 24,768,786$ 56% 135,398,877$ 68,313,232$ 50%
Thermal Energy and Process Fuels Funds ActivitiesBusiness Sector 1,665,490$ 462,789$ 28% 5,050,671$ 1,017,478$ 20%Residential Sector 4,996,470$ 2,512,866$ 50% 15,152,012$ 7,256,233$ 48%Total Thermal Energy and Process Fuels Funds Activities 6,661,960$ 2,975,655$ 45% 20,202,683$ 8,273,711$ 41%
TOTAL RESOURCE ACQUISITION 50,719,660$ 27,744,441$ 55% 155,601,560$ 76,586,943$ 49%
DEVELOPMENT AND SUPPORT SERVICES Education and Training 854,700$ 481,742$ 56% 2,564,460$ 1,106,618$ 43%Applied Research and Development 411,800$ 293,513$ 71% 1,235,565$ 656,427$ 53%Planning and Reporting 614,300$ 327,144$ 53% 1,655,840$ 678,130$ 41%Evaluation 897,600$ 611,159$ 68% 2,693,160$ 1,418,714$ 53%Policy and Public Affairs 502,900$ 404,038$ 80% 1,508,855$ 1,257,630$ 83%Information Technology 1,199,000$ 1,200,852$ 100% 3,922,520$ 2,527,882$ 64%General Administration 266,600$ 156,732$ 59% 800,000$ 414,583$ 52%TOTAL DEVELOPMENT AND SUPPORT SERVICES 4,746,900$ 3,475,181$ 73% 14,380,400$ 8,059,984$ 56%
Smart Grid (2014 Carryover) ‐$ ‐$ 0% 18,652$ 18,652$ 100%
Operations Fee 976,850$ 561,953$ 58% 3,060,100$ 1,523,924$ 50%
Sub‐Total Prior to Performance‐Based Fee 56,443,410$ 31,781,575$ 56% 173,060,712$ 86,189,503$ 50%
Performance‐Based Fee ‐$ ‐$ 0% 4,507,758$ ‐$ 0%
TOTAL ESTIMATED COSTS INCLUDING PERFORMANCE‐BASED FEE 56,443,410$ 31,781,575$ 56% 177,568,470$ 86,189,503$ 49%
BUDGET SUMMARY
Annual budget components are provided for information purposes only. VEIC operates under a total three‐year budget for each of the above line items.
For the Period Ending September 30, 2016
24
QPI# Title Performance Indicator / Milestone Target Status %
1 Electricity Savings Annual incremental net MWh savings 321,800 174,791 54%
2 Total Resource Benefits Present worth of lifetime electric, fossil, and water benefits $336,300,000 $183,272,009 54%
3 Statewide Summer Peak Demand Savings Cumulative net summer peak demand (kW) savings 41,300 19,347 47%
4 Statewide Winter Peak Demand Savings Cumulative net winter peak demand (kW) savings 53,700 30,822 57%
5 Business ComprehensivenessSavings as a % of baseline year usage for Companies who complete Business Existing Facilities efficiency projects
11.0% 8.1% 74%
6 Market Transformation Residential1Residential new construction project completions with substantial energy savings in 2015‐2017 as % of total residential new construction permits in 2014‐2016
42% 15% 37%
7 Market Transformation BusinessNumber of energy efficiency measure supply chain partners linked to at least three (completed) projects
500 338 68%
MPR# Title Minimum Requirement Minimum Status %
8 Minimum Electric Benefits Total electric benefits divided by total costs 1.2 2.0 167%
9Threshold (or minimum acceptable) Level of Participation by Residential Customers
Total residential sector spending $32,500,000 $32,619,040 100%
10Threshold (or minimum acceptable) Level of Participation by Low‐Income Households
Total low‐income single and multifamily services spending $10,500,000 $5,951,531 57%
11Threshold (or minimum acceptable) Level of Participation by Small Business Customers
Number of total non‐residential premises with annual electric use of 40,000 kWh/yr or less that acquire kwh savings
2,000 1,891 95%
12 Geographic Equity TRB for each geographic area is greater than values shown on Geo‐Equity Table 12 4 33%
13 Program Efficiency Meet all pre‐determined milestones on schedule 6 3 50%
14 Service Quality Achieve 92 or more metric points 92 42 46%
15Resource Acquisition‐Performance Period Spending
Total spending for a three‐year performance period (including applicable operations fees) is less than threshold
$136,181,694 $0 0%
16Development and Support Services‐ Performance Period Spending
Total spending for a three‐year performance period (including applicable operations fees) is less than threshold
$14,788,290 $0 0%
2015‐2017 ElectricPerformance Indicators & Minimum Requirements
Reporting period: 2016 September Quarterly Report
1 Residential Market Transformation results are reported as total completions through current report period as a percentage of the estimated number of permits for 2015‐2017.
25
Geographic Area1
RequiredTRB per
Geographic Area2Period To Date TRB per
Geographic Area % of Goal
Addison $9,569,786 $9,117,437 95%Bennington $11,755,268 $13,062,187 111%Caledonia $7,381,188 $13,526,493 183%
Chittenden $34,376,179 $49,409,538 144%Essex/Orleans $8,700,557 $7,473,948 86%
Franklin $14,422,521 $8,699,304 60%Grand Isle/Lamoille $9,155,602 $8,079,837 88%
Orange $5,985,825 $5,412,483 90%Rutland $19,819,855 $15,812,048 80%
Washington $16,412,881 $26,865,904 164%Windham $16,951,229 $13,555,785 80%Windsor $16,433,720 $12,254,069 75%
Total $170,964,610 $183,269,033 107%
1 All geographic names above refer to Vermont Counties.2 Required TRB targets have been adjusted for Customer Credit
2015‐2017 Electric Minimum TRB per Geographic Area (QPI #12)
Reporting period: 2016 September Quarterly Report
26
Metric # Metric DescriptionReporting Frequency
Actual Performance this
Period
Points Earned this Period
Cumulative 2015‐17 Points
Earned
Total Possible 2015‐17 Points
Points Earned % of Total Possible
1Residential Customer Service Satisfaction: Percentage of Residential Customers who contact Efficiency Vermont and are satisfied or very satisfied with Efficiency Vermont Customer Service will be greater than or equal to 80%
performance period
NA 0 0 12 0%
2Business Customer Service Satisfaction: Percentage of Business Customers who contact Efficiency Vermont and are satisfied or very satisfied with Efficiency Vermont Customer Service will be greater than or equal to 80%
performance period
NA 0 0 12 0%
3Customer Satisfaction upon Project Completion: Per each market segment, annual percentage of survey respondents with average service ratings of 3 (or better) shall be ≥ 90%
annually 99% 4 4 12 33%
4 Average answer time shall be ≤ 15 seconds per call quarterly 8.0 1 7 12 58%
5 Average percentage of calls answered shall be ≥ 85% quarterly 90.0% 1 7 12 58%
6 Average percentage of abandoned calls shall be ≤ 3% quarterly 3.0% 1 7 12 58%
7 Percentage of complaint follow‐up call attempted by end of next business day shall be ≥ 95% quarterly 100.0% 1 7 12 58%
8 Percentage of complaints closed within 12 business days of initial complaint call shall be ≥ 95% quarterly 100.0% 1 6 12 50%
9For each reporting year, the ratio of total complaints received per total number of Efficiency Vermont participants shall be ≤ 0.5% (one‐half of one percent)
annually 0.1% 4 4 12 33%
Totals13 42 108 39%
Service Quality & Reliability Summary Report
Reporting period: 2016 September Quarterly Report
27
QPI# Title Performance Indicator / Milestone Target Status %
1Thermal & Mechanical Energy Efficiency Savings
Annual incremental net MMBtu savings 279,000 95,536 34%
a. Average air leakage reduction per project 34% 32% 94%
b. Percent of projects with square feet of insulation added equivalent to at least 50% of the home's finished square feet of floor area
44% 60% 136%
c. Percent of households (premises) with both shell measures and heating system measures installed, within contiguous calendar years
16% 9% 56%
MPR# Title Minimum Requirement Minimum Status %
3Threshold (or minimum acceptable) Level of Participation by Residential Customers
Residential sector spending as % of total spending
62.5% 87.7% 140%
4Threshold (or minimum acceptable) Level of Participation by Low‐Income Households
Low‐income single‐ and multi‐family spending as % of total spending
17.0% 19.7% 116%
5 Performance Period SpendingTotal spending for a three‐year performance period (including applicable operations fees) is less than threshold
$20,818,062 $0 0%
Reporting period: 2016 September Quarterly Report
2015‐2017 Thermal Energy and Process Fuels Performance Indicators & Minimum Requirements
Residential Single Family Comprehensiveness2
28
Quarterly Report: 2016 September Quarterly
Totals Business Energy Services Other
Resource Acquisition CategoryTotal Electric
Efficiency Services (including CC)
Total Electric Efficiency Services (excluding CC)
Subtotal Business
Efficiency Services
Subtotal Residential Efficiency Services
Business New Construction
Business Existing Facilities
Residential New Construction
Efficient Products Existing HomesCustomer Credit
Program
Efficiency Vermont CostsCosts for Quarter $8,535,241 $8,405,163 $3,726,954 $4,678,209 $610,468 $3,116,486 $970,973 $2,865,507 $841,730 $130,078Year to Date Costs $23,739,894 $23,503,913 $11,513,704 $11,990,209 $1,883,954 $9,629,750 $2,301,800 $7,310,475 $2,377,934 $235,981Annual Budget Estimate1,2 $42,059,100 $40,557,200 $20,808,000 $19,749,200 $3,054,000 $17,754,000 $3,054,000 $12,826,800 $3,868,400 $1,501,900Unspent Annual Budget Estimate $18,319,206 $17,053,287 $9,294,296 $7,758,991 $1,170,046 $8,124,250 $752,200 $5,516,325 $1,490,466 $1,265,919% Annual Budget Estimate Unspent 44% 42% 45% 39% 38% 46% 25% 43% 39% 84%Other CostsParticipant Costs for Quarter $5,792,335 $5,792,335 $3,508,290 $2,284,045 $565,143 $2,943,147 $249,214 $2,058,621 ($23,790) $0Participant Costs Year to Date $16,858,467 $16,858,467 $10,924,260 $5,934,206 $1,910,924 $9,013,336 $775,395 $5,204,561 ($45,750) $0Third Party Costs for Quarter ($24,872) ($24,872) $0 ($24,872) $0 $0 $19,500 $0 ($44,372) $0Third Party Costs Year to Date ($106,014) ($106,014) $0 ($106,014) $0 $0 $50,425 $0 ($156,439) $0MWh Savings ResultsMWh for Quarter 26,614 24,179 11,569 12,609 1,287 10,282 679 11,468 463 2,436MWh Year to Date 72,282 69,793 34,877 34,916 4,678 30,198 1,815 31,817 1,284 2,489MWh Starting 1/1/15 179,242 174,791 84,450 90,341 15,588 68,863 3,855 82,697 3,788 4,4503‐Year MWh Goal N/A 321,800 221,900 99,900 29,900 192,000 5,700 84,600 9,600 N/A% of 3‐Year MWh Goal N/A 54% 38% 90% 52% 36% 68% 98% 39% N/AWinter Peak Coincident kW Savings ResultsWinter Coincident Peak kW for Quarter 4,170 4,170 1,683 2,487 190 1,493 142 2,256 89 0Winter Coincident Peak kW Year to Date 12,641 12,634 5,112 7,522 588 4,523 367 6,899 256 7Winter Coincident Peak kW Starting 1/1/15 31,151 30,822 12,157 18,664 2,292 9,866 781 17,090 794 3303‐Year Winter Coincident Peak kW Goal N/A 53,700 31,100 22,600 3,500 27,600 1,100 19,800 1,700 N/A% of 3‐Year Winter Coincident Peak kW Goal N/A 57% 39% 83% 65% 36% 71% 86% 47% N/ASummer Peak Coincident kW Savings ResultsSummer Coincident Peak kW for Quarter 2,835 2,835 1,560 1,275 195 1,365 83 1,155 37 0Summer Coincident Peak kW Year to Date 7,469 7,463 4,541 2,922 754 3,787 208 2,617 96 7Summer Coincident Peak kW Starting 1/1/15 19,676 19,347 11,033 8,314 2,616 8,416 424 7,615 275 3293‐Year Summer Coincident Peak kW Goal N/A 41,300 27,800 13,500 4,500 23,300 700 11,900 900 N/A% of 3‐Year Summer Coincident Peak kW Goal N/A 47% 40% 62% 58% 36% 61% 64% 31% N/ATotal Resource Benefits (TRB) Savings ResultsTRB for Quarter $23,166,321 $23,038,241 $10,946,171 $12,092,071 $1,793,746 $9,152,425 $2,312,588 $9,470,367 $309,115 $128,080TRB Year to Date $71,600,791 $71,412,347 $38,488,386 $32,923,961 $12,852,349 $25,636,037 $5,489,625 $26,516,834 $917,503 $188,443TRB Starting 1/1/15 $185,296,257 $183,272,009 $102,390,980 $80,881,029 $41,096,696 $61,294,284 $12,686,189 $65,071,956 $3,122,884 $2,024,2483‐Year TRB Goal N/A $336,300,000 $236,737,700 $99,562,301 $47,830,700 $188,907,000 $28,176,000 $61,036,300 $10,350,000 N/A% of 3‐Year TRB Goal N/A 54% 43% 81% 86% 32% 45% 107% 30% N/AParticipationPartic.w/ installs for Quarter 14,987 14,986 747 14,239 43 704 586 13,127 526 1Partic.w/ installs Year to Date 47,310 47,309 1,910 45,399 156 1,754 1,146 42,810 1,443 1Partic.w/ installs Starting 1/1/15 133,066 133,064 4,050 129,014 391 3,659 2,480 121,111 5,423 2
1 Annual projections of the Customer Credit Program funds are estimates only and provided for informational purposes.2 Annual projections for all other markets are estimates only. Efficiency Vermont performance is based on three‐year cumulative budgets and savings goals.
2015 ‐ 2017 Electric Resource Acquisition Summary
Residential Energy Services
29
Reporting period: 2016 September Quarterly
Resource Acquisition Category
Total Thermal Energy and
Process FuelsEfficiency Services
Subtotal Business
Efficiency Services
Subtotal Residential
Efficiency ServicesNew Construction
Existing Facilities
New ConstructionEfficient Products
Existing Homes
Efficiency Vermont CostsCosts for Quarter $1,081,759 $233,217 $848,542 $8,089 $225,128 $2,850 $77,180 $768,511Year to Date Costs $3,029,217 $471,120 $2,558,097 $42,316 $428,804 $5,943 $176,364 $2,375,790Annual Budget Estimate1 $6,781,875 $1,695,469 $5,086,406 $27,107 $1,668,362 $2,552 $432,682 $4,651,172Unspent Annual Budget Estimate $3,752,659 $1,224,350 $2,528,309 ‐$15,209 $1,239,558 ‐$3,391 $256,318 $2,275,382% Annual Budget Estimate Unspent 55% 72% 50% ‐56% 74% ‐133% 59% 49%Other CostsParticipant Costs for Quarter $2,327,810 $625,655 $1,702,155 $19,776 $605,879 $48,000 ($62,409) $1,716,564Participant Costs Year to Date $6,464,651 $1,399,463 $5,065,188 $189,469 $1,209,994 $48,000 ($141,375) $5,158,563Third Party Costs for Quarter $7,906 $0 $7,906 $0 $0 $0 $0 $7,906Third Party Costs Year to Date $32,988 $0 $32,988 $0 $0 $0 $0 $32,988MMBtu Savings ResultsMMBtu for Quarter 22,827 17,330 5,497 503 16,826 46 1,820 3,631MMBtu Year to Date 48,524 32,358 16,165 2,959 29,399 46 4,287 11,832MMBtu Starting 1/1/15 95,536 48,424 47,112 4,258 44,167 1,404 11,741 33,9673‐Year MMBtu Goal 279,000 171,300 107,700 28,400 142,900 2,300 14,700 90,700% of 3‐Year MMBtu Goal 34% 28% 44% 15% 31% 61% 80% 37%Associated BenefitsMWh for Quarter 32 208 (177) 64 144 0 ‐177 1MWh Year to Date ‐54 215 (268) 62 153 0 ‐418 150MWh Starting 1/1/15 ‐914 251 (1,165) 61 190 ‐1 ‐1,399 235Winter Coincident Peak kW for Quarter 5 27 (22) 12 15 0 ‐22 1Winter Coincident Peak kW Year to Date 47 29 18 12 17 0 ‐53 71Winter Coincident Peak kW Starting 1/1/15 22 56 (34) 11 44 0 ‐147 113Summer Coincident Peak kW for Quarter 0 12 (11) 1 11 0 ‐11 0Summer Coincident Peak kW Year to Date ‐16 11 (27) 1 11 0 ‐27 0Summer Coincident Peak kW Starting 1/1/15 ‐65 12 (77) 1 11 0 ‐74 ‐3TRB for Quarter $4,064,562 $2,753,143 $1,311,419 $194,459 $2,558,685 $73,940 $224,237 $1,013,241TRB Year to Date $10,302,485 $6,148,738 $4,153,747 $735,879 $5,412,859 $73,940 $527,940 $3,551,868TRB Starting 1/1/15 $27,816,670 $11,784,188 $16,032,482 $2,143,858 $9,640,330 $628,679 $2,423,485 $12,980,318ParticipationPartic.w/ installs for Quarter 713 73 640 6 67 9 125 506Partic.w/ installs Year to Date 2,285 196 2,089 20 176 9 233 1,847Partic.w/ installs Starting 1/1/15 4,962 448 4,514 36 412 10 492 4,012
1 Annual projections are estimates only and provided for informational purposes. For details regarding ISO‐New England Regional Capacity Activities see FCM Quarterly report.
2015 ‐ 2017 Thermal Energy and Process Fuels Resource Acquisition Summary
Business Energy Services Residential Energy ServicesTOTALS
30
Forward Capacity Market Participation Quarterly Report to the Vermont Public Service Board
Reporting period: 2016 September Quarterly
Total Portfolio of FCM Participation
Efficiency Vermont Portion of FCM Participation1
GMP EEF Portion of FCM Participation1
GMP CEED Portion of FCM
Participation1
Revenue ReceivedRevenue Received for Quarter4 $890,116 $873,078 $12,563 $4,475Revenue Received Year to Date $2,642,386 $2,598,251 $32,744 $11,391* Annual Revenue Estimate $3,616,405 $3,523,636 $57,391 $35,378% Annual Revenue Estimate Received 73.1% 73.7% 57.1% 32.2%Revenue Received during 3‐Year Period (2015 ‐2017) $8,604,002 $8,559,867 $32,744 $11,391Revenue Estimate for 3‐Year Period (2015 ‐2017) $10,064,348 $9,822,217 $121,066 $121,066% 3‐Year Period Revenue Estimate Received 85.5% 87.1% 27.0% 9.4%VEIC CostsCosts for Quarter $123,966Year to Date Costs $303,911* Annual Budget Estimate $402,900Unspent Annual Budget Estimate $98,989% Annual Budget Estimate Unspent 24.6%FCM Peak Capacity Results2
FCM Summer Peak kW at end of Quarter3 93,390 91,290 1,441 659Annual Summer FCM Peak kW Forecast 92,000 89,640 1,460 900% Annual Summer FCM Peak kW Forecast Achieved 101.5% 101.8% 98.7% 73.2%3‐Year Summer FCM Peak kW Commitment 116,384 113,584 1,400 1,400% 3‐Year Summer FCM Peak kW Commitment Achieved 80.2% 80.4% 102.9% 47.1%
1The GMP EEF and CEED portions of FCM revenue shown here are net of allocated cost of participation ‐ as such, costs are not broken out separately below.
2Reflects cumulative peak kW savings from measures installed since 6/16/2006. Full details on the ISO‐NE Forward Capacity Market and requirements for participation, including calculation of capacity obligations, can be found in: "Playing with the Big Boys: Energy Efficiency as a Resource in the ISO‐NE Forward Capacity Market", www.veic.org/ResourceLibrary3 Actual claims are for Summer Peak Capacity (kW) for April through November, and for Winter Peak Capacity (kW) for December through March.4 Revenue includes $18,627 from ISO‐NE as an adjustment to payment for excess capacity delivered in 2010‐2012.
* Annual projections are estimates only and provided for informational purposes.
Forward Capacity Market (FCM) Current Claims and Forecasts
n/a
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Forward Capacity Market Participation Quarterly Report to the Vermont Public Service Board
Reporting period: 2016 September Quarterly
FCM #1‐#4: Existing Portfolio
FCM #5: Portfolio Expansion
FCM #6: Portfolio Expansion
FCM #7: Portfolio Expansion
FCM #8: Portfolio Expansion
FCM #9: Portfolio Expansion
FCM #10: Portfolio Expansion
Total Current Commitment
Actual FCM Peak Capacity to Date
Monthly Payment Committed from ISO‐NE
12‐Month Pmt Committed from
ISO‐NE
Total Actual Payments Received to
Date
Revenue Rec'd Over (Under)
Initial Commitment
1 6/1/2010 ‐ 5/31/2011 39,117 39,117 $217,296 $2,607,552 $2,891,075 $283,5232 6/1/2011 ‐ 5/31/2012 48,414 48,414 $268,514 $3,222,168 $3,415,893 $193,7253 6/1/2012 ‐ 5/31/2013 55,264 55,264 $291,567 $3,498,804 $3,621,871 $123,0674 6/1/2013 ‐ 5/31/2014 72,093 72,093 $370,915 $4,450,980 $4,465,395 $14,4155 6/1/2014 ‐ 5/31/2015 71,313 12,456 83,769 $425,618 $5,107,413 $5,029,523 ($77,890)6 6/1/2015 ‐ 5/31/2016 71,869 12,456 14,807 99,132 $378,525 $4,542,300 $3,390,207 ($1,152,093)7 6/1/2016 ‐ 5/31/2017 68,713 12,456 14,807 13,589 109,565 93,390 $376,083 $4,512,993 $895,5598 6/1/2017 ‐ 5/31/2018 75,532 12,456 14,807 13,589 0 116,384 $717,379 $8,608,5489 6/1/2018 ‐ 5/31/2019 104,367 0 0 0 0 0 104,367 $1,076,554 $12,918,64810 6/1/2019 ‐ 5/31/2020 99,603 0 99,603 $756,224 $9,074,688
Total: $58,544,094 $23,709,523 ($615,253)
FCM#4 FCM#5 FCM#6 FCM#7 FCM#8 FCM#9 FCM#10 FCM#11 Credit4 Total5
$219,199 $289,971 $0 $0 $0 $0 ($290,793) $274,057
$33,424$7,573
$211,626 $289,971 $0 $0 $0 $33,424 ($292,583) $303,048
FCM#1‐4 FCM#5 FCM#6 FCM#7 FCM#8 FCM#9 FCM#10 FCM#116/1/2016 6/1/2017 6/1/2018 6/1/2019 6/1/20202/4/2013 2/3/2014 2/2/2015 2/8/2016 2/6/20189/28/2012 9/27/2013 9/26/2014 9/25/2015 9/30/20166/15/2012 6/17/2013 6/17/2014 6/16/2015 6/21/20161/17/2012 2/28/2013 3/4/2014 3/3/2015 4/22/2016
15,473
1As of this date, we have commitments and committed pricing through FCM Auction #9. The information in this section reflects only ACTUAL committed capacity and currently commited prices for that capacity.
2Commitments include capacity from GMP EEF and CEED projects.
3Our Financial Assurance obligations are met through a letter of credit to ISO‐NE from Cormerica Bank backed by the VEIC line of credit with Chittenden Bank
4Credit to FA obligation based on 1 month's upcoming revenue from FCM claims per ISO‐NE policy; varies due to monthly fees
5Includes mark‐up to cover 80% credit test.
6 Multi‐year obligations for New Resources from FCM#5 through FCM#7 removed as of FCM#9
FCM Period Delivery Dates
Summer Peak Capacity (kW)FCM Future Commitments and Revenue Forecast1,2,6
Date of Show of Interest
New Obligations
Date of Qualification Notification
Delivery Period begins:Date of Auction
Financial Assurance Obligation at End of Next Quarter (Estimate)
Obligation Released (Est)
Date of Qualification Submission
Delivered
Expected Upcoming Transactions:
Revenue
Delivered Delivered
FCM Peak Capacity Proposed (Summer Peak kW) ‐ Not Committed
Current Financial Assurance Obligations Related to FCM Capacity Above 3
Delivered
Financial Assurance Obligation at End of Quarter
Additional FCM Peak Capacity Qualified to participate in upcoming auction
Additional FCM Peak Capacity submitted as a Show of Interest for future auction
Additional FCM Peak Capacity currently under review for Qualification
Delivered
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AreaAnnual Net
MWh Saved
Lifetime Net
MWh Saved
Net Total Resource
Benefits Delivered³
Designated Downtowns¹
Barre City 181 2,835 $295,597
Bellows Falls 55 831 $52,329
Bennington 21 300 $112,741
Bradford 6 94 $5,451
Brandon 642 9,107 $513,629
Brattleboro 277 3,250 $911,359
Bristol 27 385 $39,331
Middlebury 160 1,972 $383,988
Montpelier 138 2,059 $447,121
Morrisville Not Available Not Available Not Available
Newport City Not Available Not Available Not Available
Poultney 25 365 $21,151
Randolph 122 1,767 $195,019
Rutland City 99 1,434 $113,335
Saint Albans 291 3,493 $234,918
Saint Johnsbury 272 6,093 $367,402
Springfield 23 292 $85,364
Vergennes 2 26 $24,044
Waterbury 26 336 $36,289
White River Junction 40 593 $59,931
Wilmington 1 11 $6,648
Windsor 57 626 $78,448
Winooski 245 2,518 $381,503
Totals: 2,711 38,388 $4,365,597
New Town Centers¹
Colchester 0 7 $417
South Burlington 33 492 $30,664
Totals: 33 499 $31,081
Growth Centers¹
Bennington 2,577 39,509 $3,050,179
Colchester 0 7 $417
Hartford 660 7,918 $2,433,710
Montpelier 404 5,888 $1,426,492
Saint Albans 609 8,404 $566,480
Williston 581 7,705 $472,308
Totals: 4,831 69,431 $7,949,586
BENEFITS TO VERMONT'S DESIGNATED DOWNTOWNS, NEW TOWN CENTERS AND GROWTH CENTERS
All results are cumulative for the period 2015 - 2017
¹Vermont Agency of Commerce & Community Development - Department of Housing and Community Development
(http://accd.vermont.gov/strong_communities/opportunities/revitalization/downtown )
²Burlington is excluded from reporting because it is not part of Efficiency Vermont service territory.
³Present Value of Lifetime Reductions in Electric, Fuel, and Water Costs from all Efficiency Vermont programs and
services accomplished through both Energy Efficiency Charge and Thermal Energy and Process Fuels funding.
Reporting is dependant on the ability of mapping electric utility premises to these designated areas. Efficiency Vermont is coordinating with the affected electric distribution utilities and the Vermont Agency of Commerce and Community Development to complete the mapping process.
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