ACT NO. 93
Sale of property
This act requires public service board consent to the sale or lease of real property by a company owning or operating a generating plant in this state with a capacity of 80 megawatts or more, if the sale or lease is of real property or transmission facilities located at the plant that are or may be required to generate electricity, interconnect generation facilities with transmission facilities, or transmit electricity from the plant. It also provides that owners of transmission facilities capable of operating at 100 kilovolts or greater may sell or lease certain equipment only upon receipt of a certificate of consent from the board. The act requires 45 days notice to the board and department, filing of recommendations by the department within 30 days of receipt of notice, and a determination by the board within an additional 15 days with regard to whether further inquiry is warranted. If the department recommends approval without further inquiry and the board fails to act within 15 days, the transaction shall be deemed to be approved. The act allows the board to adopt rules with regard to the need for and scope of any hearing under the section, and it requires the board to consider ratepayer impacts and the least-cost planning principles. Rulemaking power is explicitly authorized, in order: to decrease the regulatory threshold to no less than 50 megawatts; to establish a minimum value threshold that would trigger review; and to otherwise minimize duplicative regulatory review.
Effective Date: March 21, 2008.
The Vermont General Assembly
115 State Street