|BILL AS INTRODUCED||2007-2008|
Introduced by Senator Ayer of Addison District, Senator Giard of Addison District and Senator Lyons of Chittenden District
Subject: Public service; Pay-as-You-Save (PAYS®)
Statement of purpose: This bill proposes to authorize the public service board to establish a Pay-as-You-Save (PAYS®) program, which allows customers to purchase and install cost-effective efficiency improvements or renewable energy enhancements with no up-front payment or debt commitment, and to pay for the costs of the improvements over time as an additional charge on their monthly utility bill.
AN ACT RELATING TO AUTHORIZING THE PUBLIC SERVICE BOARD TO ESTABLISH A PROGRAM FOR EFFICIENCY IMPROVEMENTS OR RENEWABLE ENERGY ENHANCEMENTS TO BE PROVIDED AT MONTHLY COSTS THAT ARE LESS THAN THE MONTHLY SAVINGS FROM THE IMPROVEMENTS
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. 30 V.S.A. § 209(g) is added to read:
(g) The public service board is authorized to develop and approve tariffs for a Pay-as-You-Save (PAYS®) system, which allows one or more building owners or tenants to pay, over time, for currently cost-effective efficiency improvements or renewable energy improvements, or both, by means of a monthly charge on their electric bill that is assessed in an amount equal to or less than the monthly savings generated by the improvements. The program shall provide that when a participating customer moves elsewhere before full payment is achieved, the charge shall be passed on to the new owner or tenant. The program shall allow the capital for purchasing the equipment to be provided by a customer’s electricity distribution company, an energy supplier, a third-party capital provider, or a product vendor, and shall provide that the capital is repaid, with appropriate finance charge, through the customer’s monthly PAYS® tariff.
The Vermont General Assembly
115 State Street