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Press Releases

Interested in the most up-to-date news happening at VEC, including outage information and other news releases? Are you looking for a copy of a VEC publication or report?

Our News Center is your one-stop location for the latest news at VEC.

Governor Shumlin, Vermont Electric Coop Announce Next Generation Solar Initiative in Vermont

Program Will Bring Solar Power to More Homes, Businesses and Provide National Blueprint for Cooperatively-Owned Solar

November 11, 2013, Montpelier, Vt. – Today, Governor Shumlin joined officials from the Vermont Electric Cooperative (VEC) and the National Rural Electric Cooperative Association (NRECA), as well as Vermont legislators to announce a first-in-the-nation federal partnership for Next Generation Solar energy in Vermont.  This partnership will result in Vermont’s largest utility-scale solar project, making solar energy an option for more VEC customers and providing a model for cooperative utilities and their customers across the country.

Vermont Electric Co-op Seeks Approval to Resume Net Metering

Released: October 1, 2013 

Johnson, VT- Vermont Electric Cooperative (VEC) filed a tariff request with the Vermont Public Service Board (PSB) today seeking approval to resume net metering installations. Net metering enables consumers to generate renewable electricity and receive credits to offset electric utility bills.

In July, VEC reached a cap established by the Vermont legislature which requires utilities to allow net metering systems to be installed in their service territory up to a limit of 4% of the utility’s peak demand. The legislature has given the PSB authorization to raise the cap after analyzing the costs and benefits of these systems. Until it receives authorization to exceed the cap, VEC has stopped approving new net metering system applications.  Current participants have not been affected.

Vermont Electric Cooperative issues patronage capital distribution to Members

Release: September 17, 2013

Johnson, VT --Vermont Electric Cooperative (VEC) will issue $850,000 in patronage capital distributions to its members for the first time in the Cooperative’s 75 year history announced CEO Dave Hallquist.  

“On behalf of the VEC Board of Directors and employees, I’d like VEC members to know how proud we are to be making our first patronage capital distribution – especially as we celebrate VEC’s 75th birthday,” said Hallquist. “It’s taken many years of hard work and discipline to reach this important milestone, and it demonstrates that today VEC is a strong and healthy cooperative.”

Vermont Electric Co-op receives 'A' rating from Standard & Poor's

Released: September 25, 2013 

Johnson, VT- On September 23, 2013 Standard & Poor's Ratings Services (S&P) raised Vermont Electric Cooperative's (VEC) credit rating to 'A' and gave VEC a stable outlook. VEC’s rating prior to this upgrade was ‘A-‘.

The improved credit rating reflects S&P's view that strong management practices at VEC and demonstrated leadership skills have helped to improve VEC’s reliability while controlling costs and electric rates.

“This is great news for VEC’s members,” said Dave Hallquist, VEC’s chief executive officer.  “VEC’s board of directors and employees have worked hard during the past several years to improve our financial outlook. We’ve steadily moved from a ‘BBB–‘ in 2007 to an ‘A’ rating which indicates that we’re on strong financial ground. This will help VEC to further diversify our power portfolio at more competitive and stable costs while we continue to deliver safe and reliable electricity to our members.

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