§ 203a - Fuel efficiency fund - Vermont Statutes

§ 203a. Fuel efficiency fund

(a) Fuel efficiency fund. There is established the fuel efficiency fund to be administered by a fund administrator appointed by the board. Balances in the fund shall be ratepayer funds, shall be used to support the activities authorized in this subdivision, and shall be carried forward and remain in the fund at the end of each fiscal year. These monies shall not be available to meet the general obligations of the state. Interest earned shall remain in the fund. The fund shall contain such sums as appropriated by the general assembly or as otherwise provided by law, in addition to revenues from the sale of credits under the RGGI cap and trade program as provided for under section 255 of this title.

(b) Use of the fund. The fuel efficiency fund shall be used to support the delivery of energy efficiency services to Vermont heating and process fuel consumers and to carry out cost-effective efficiency measures and reductions in greenhouse gas emissions from those sectors. These energy efficiency services shall be delivered by the service provider or providers selected by the public service department under section 235 of this title to perform these functions.

(c) Report. On or before January 15, 2010, and annually thereafter, the public service department shall report to the legislature on the expenditure of funds from the fuel efficiency fund to meet the public's needs for energy efficiency services.

(d) Department costs. Up to five percent of amounts allocated to the public service department from the fund may be used for administrative costs directly related to the fuel efficiency fund. (Added 2007, No. 92 (Adj. Sess.), § 11; 2009, No. 54, § 103, eff. June 1, 2009; No. 1 (Sp. Sess.), § E.235, eff. June 2, 2009.)