Mary Powell, incoming CEO of Green Mountain Power, announced on Monday the company's plan to aggressively develop renewable resources to diversify the portfolio of energy sources.
GMP's strategy is to establish "green energy zones," wherein Vermont companies will have priority in developing renewable energy sources, and to lessen Vermont's dependence on Vermont Yankee nuclear power while "ramping up" in-state renewable generation. Powell said a key component is geo-political negotiations with Hydro Quebec, a provider of hydropower to GMP. Also important is the re-licensing of Vermont Yankee, whose contract will expire in 2012, so that state can develop solid infrastructure to support other sources of renewable energy instead of going cold turkey.
The plan phases out dependence on oil/gas and system contracts, while increasing the role that biomass, hydro and wind power have in the energy resource mix. By 2032, Powell hopes, hydropower will have increased from 48 to 63 percent, biomass from 4 to 10 percent, and wind from zero to 8 percent. The plan estimates that nuclear energy will decrease from 38 percent to 17 percent by 2032.