Current News

Vermont Business Magazine The Vermont Department of Financial Regulation is actively participating in nation-wide efforts to collect and analyze insurance claim information that will provide important insights into property insurance market costs, coverages and protection gaps. The Department recognizes the critical importance of market intelligence at a time when consumers, insurance regulators and industry face the increasing frequency and severity of natural disasters. State insurance regulators working through the National Association of Insurance Commissioners (NAIC) in March issued the Property & Casualty Market Intelligence Data Call (PCMI), and data collection is ongoing through June 6, 2024. The NAIC is a standard-setting and regulatory support organization comprised of the chief insurance regulators of the U.S. states, the District of Columbia, and five U.S. territories. 

by Attorney General Charity Clark Last week, the Vermont Legislature voted out one of the most impactful consumer bills seen in decades, H.121, an act relating to enhancing consumer data privacy and the age-appropriate design code. I am proud to say that I was one of the original authors of H.121 – and humbled to say that the final bill that passed is much, much better. In the bill, consumer protections for our data privacy are balanced with protections for small businesses, and the beneficiaries are all of us: consumers, the marketplace, businesses, and children.

Vermont Business Magazine Deputy Mayor of Winooski Thomas Renner announced his candidacy for Lieutenant Governor of Vermont today in Winooski. Renner, a graduate of the University of Vermont, began his career working alongside Senator Patrick Leahy, where he strengthened his passion for serving the people of Vermont. His commitment to community service led him through various roles within the state, including contributions to Vermont's healthcare system and service in Becca Balint’s Congressional office. In 2022, Renner stepped into local politics by successfully running for City Councilor in Winooski, where he earned the distinction of being one of the city's youngest councilors. His dedication and effectiveness were quickly recognized, resulting in his appointment as Deputy Mayor in 2023.

Vermont Business Magazine Average gasoline prices in Vermont are $3.61 per gallon, down 1 cent per gallon from last week, up 16 cents/g from last month and up 13 cents/g from last year. The lowest price in the state yesterday was $3.28/g in Rutland, while the highest was $3.84/g in South Royalton. The national average price of gasoline fell 5 cents per gallon in the last week, averaging $3.59/g today. The national average is down 8 cents per gallon from a month ago and stands 9 cents per gallon higher than a year ago. Gas prices here and across the nation have fallen slower than anticipated but are expected to keep dropping in the near future at least.

Vermont Business Magazine Killington Resort is slated to kick off the 2024-25 Audi FIS Ski World Cup races in the U.S., hosting the Stifel Killington Cup for the eighth time over Thanksgiving weekend. 40,000 fans are expected to cheer on the fastest female ski racers in the world, including six-time Stifel Killington Cup slalom champion and winningest skier of all time Mikaela Shiffrin and last season’s overall World Cup winner and two-time Stifel Killington Cup giant slalom victor Lara Gut-Behrami. It is the most attended women’s event in the U.S. The event will take place November 29- December 1, 2024, but the announcement is pending the official confirmation of the FIS schedule on June 6, 2024. 

Vermont Business Magazine As folks head to their lakefront properties for the summer, the Vermont Lakes and Ponds Program is offering guidance to help property owners protect and restore their lakeside properties. The Shoreland Best Management Practices guidance highlights different ways owners can improve lake water quality and the health of lakeshore habitat. Owners can use this guidance to plant native trees and shrubs, install rain gardens to absorb runoff, improve driveways and pathways, create no-mow zones, and more. The Shoreland Protection Act regulates new activities in protected shoreland areas that are within 250 feet of the shoreline of lakes and ponds 10 acres in size or greater.

Vermont Business Magazine Over the next decade, ISO New England is forecasting an approximate 17% increase in energy demand on the power grid. This is primarily driven by the electrification of heating and transportation sectors, presenting a critical shift in energy consumption patterns. Vermont will increase solar production by 60 percent over the next 10 years, add 120,000 electric vehicles during that time, while electric heating (heat pumps, etc) is expected to increase almost tenfold over the next decade. The findings published this week in the 2024–2033 Forecast Report of Capacity, Energy, Loads, and Transmission (CELT Report), serve as a resource for system planning and reliability studies. The CELT Report delves into various factors shaping the region’s energy landscape, including economic growth, weather trends, and state-level carbon reduction objectives and adoption of technology like electric vehicles and air sourced heat pumps.

Vermont Business Magazine In celebration of American Wetlands Month, the Vermont Department of Environmental Conservation (DEC) wants to help land buyers make informed decisions when buying property with wetlands. “When buying land, it is important to know if some or all of the property is part of or near a wetland,” said DEC Commissioner Jason Batchelder. “If you plan to develop your property, it may be necessary to obtain a wetland permit.” Before purchasing property, find wetland locations and learn more about wetland permitting.

Vermont Business Magazine On May 15, 2024, the Vermont Public Utility Commission announced that it is seeking three members to serve on the Vermont System Planning Committee – an alternate member representing the commercial and industrial electric consumers and a primary and alternate member representing the supply resources. The alternate member representing commercial and industrial electric consumers will fill a current term ending on July 31, 2028. The member or alternate representing supply resources will serve a five-year term, starting no later than August 1, 2024, and ending July 31, 2029. The VSPC plays a key role in the planning process for Vermont’s electric transmission system.

Vermont Business Magazine Dartmouth College takes a leap into the sustainable future with the installation of the region's first off-grid solar electric vehicle charging station designed for workplaces. Solaflect Energy, based in Norwich, Vermont, is the visionary creator of this groundbreaking EV charging system called the Solar EV Charger, which aims to meet the growing needs of EV commuters at Dartmouth College with sustainable solar power. The Hanover, New Hampshire-located Solar EV Charger benefits from abundant annual sunshine, providing up to 40,000 miles of EV charging per year, or 10,000 miles for each of four participating employees through four Level 2 chargers.  This far exceeds the average Dartmouth employee's annual commute and is more cost-effective, with a per-mile cost that is only a quarter of traditional gasoline expenses. Moreover, the 'fuel' powering these EVs is 100% renewable, harnessed directly from the sun.

Vermont Business Magazine Vermont’s turtles are on the move, and the Vermont Fish and Wildlife Department is asking for the public’s help in keeping them safe.  Female turtles will soon be looking for places to lay their eggs, and they sometimes choose inconvenient or dangerous locations.  For example, turtles often lay eggs in gravel parking lots and driveways and along road shoulders, which puts them at risk of being hit by motor vehicles. Turtle nesting activity peaks between late May and mid-June, and drivers are urged to keep an eye out for turtles on the road – especially when driving near ponds, rivers and wetlands. 

Vermont Business Magazine Vermont Electric Co-op members recently got a rundown on how the co-op is planning for increasing weather-related threats to the power system during VEC’s Annual Meeting at Smugglers’ Notch Resort. The morning-long event took place this past Saturday, May 11. Speaking to a crowd of about 160 people, Dr. Jay Shafer, chief science officer at Disaster Tech outlined the increasing threats of weather due to the changing climate. VEC’s chief operating officer Peter Rossi then updated members on the types of investments the co-op is making to increase both the reliability and resiliency of the VEC power system in the face of these risks. After the presentations, the Q&A period focused on the future of the grid, integration of renewables, and managing expected increases in demand in the coming years.