What are the most important steps Vermont can take to keep its standing of having the lowest carbon emissions of any state in the country, and the second-lowest on a per capita basis?
We must ensure that our two clean, baseload sources of power, Hydro-Québec and Vermont Yankee, continue to serve our state for years to come.
Together, Hydro-Québec and Vermont Yankee provide two-thirds of our state's total electricity supply. At the point of electricity generation, these sources produce none of the greenhouse gases, toxins, ozone or particulate matter emitted from fossil fuel sources, making Vermont a cleaner and better place to live.
As a smaller state, it might not be shocking that Vermont has the lowest overall carbon emissions, even though Vermonters drive quite a bit. Vermont obtains very little of its electricity from fossil-fuel sources however, so we have such a low per-person carbon emission rate.
If Vermont is to make more progress on the environmental front, increasing our use of fossil fuels (either from in-state or imported supply), is probably the worst policy decision we could make.
Almost everybody supports more renewable energy development. Assuming a developer can overcome the siting obstacles and bureaucratic snags that these sources are often met with, the development of wind and solar could serve to diversify Vermont's electricity portfolio.
Although wind and solar alone cannot meet our state's electricity needs, they can play a critical role in further reducing Vermont's use of fossil fuels and ensuring that we can meet future energy demand.
To meet our environmental and economic goals, there is no better foundation for our state's electricity supply than what we currently have: a mix of hydropower and nuclear energy. And working to augment Hydro-Québec and Vermont Yankee with solar, wind, biomass, geothermal heat pumps, and other renewable energy technologies could make our electricity portfolio the national model.
Vermont Yankee is our only in-state, baseload power provider. The plant has operated safely and generated a clean and reliable supply of electricity for years.
Why are in-state sources important? They keep our electricity prices down by providing long-term contracts that benefit both parties. This is exactly what happened when Entergy bought Vermont Yankee in 2002, as the State of Vermont and the company agreed to a long-term contract establishing Vermont Yankee's current price of electricity at 3.95 cents per kilowatt hour. This below-market-price contract continues to benefit Vermonters at savings estimated by the Vermont Department of Public Service totaling $668 million over the long-term; which translates into real savings for our state's hard-working families.
What's more, because of the fact that Vermont doesn't depend on the volatile prices of natural gas for electricity supply, we have been largely insulated from the price spikes that have affected businesses and residents throughout New England.
It's unfortunate that some of our state legislators are once again harassing Vermont Yankee with unnecessary legislation that wastes time and taxpayer dollars. If Vermont is to preserve our enviable environmental status, then Vermont Yankee's continued operation is critical.
Our legislators and policy makers need to know that there are major implications with energy policy political gamesmanship that can and will hurt the hard-working men and women of Vermont. Particularly with the strong public support that exists today for Vermont Yankee because of its economic and environmental benefits.
We are fortunate that Vermont's former policy makers had the foresight to establish the energy foundation that we enjoy today. We must urge our current policy makers to maintain and continue to build from the energy foundation that Hydro-Québec and Vermont Yankee provide.
By advocating for the energy policies that are compatible with Vermont's environmental and economic goals, we can set our state up for short- and long-term success.
About the author: Jim Eckhardt is the owner of Censor Security, a Rutland-based company providing security services to businesses statewide. Mr. Eckhardt also serves as the NFIB/VT chairman of Leadership Council. NFIB/VT is made up of nearly 1,700 Vermont small business owners across the state.
