Customer-Centric Energy Transformation
Green Mountain Power (GMP) in Vermont has announced a new company vision as Vermont’s Energy Transformation Company and pursued a path of customer innovation to advance the transition to a low-carbon, affordable, reliable future energy system. In so doing, GMP aims to expand from its traditional vertically integrated, investor-owned business model by offering more energy products and services to customers, building new revenue streams in the face of declining energy sales to keep rates affordable, and using distributed energy resources more efficiently to support a low-cost and highly renewable and resilient energy system.
The utility provides low-carbon electric service to 260,000 customers across central and southern Vermont. Its retail rates are among the lowest from New England’s investor-owned utilities.
Vermont has an ambitious mandate for a renewable energy standard, requiring by 2032 that 75% of electricity come from renewable sources, that 10% come from distributed generation, and that utilities achieve fossil-fuel savings equivalent to 12% of their annual electric sales through energy transformation projects.GMP has several high-impact opportunities to build upon its customer-focused energy programs while reimagining its business model as an energy transformation company, delivering low-carbon, affordable, reliable energy to customers, according to RMI’s new report.