Northfield-Integrated-Resource-Plan
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Northfield-Integrated-Resource-Plan
Northfield Electric Department - 2019 Integrated Resource F.Northfield Electric Department2019 Integrated Resource PlanFiled with the Public Utility C Northfield-Integrated-Resource-PlanCommissionNorthfield Electric Department - 2019 Integrated Resource PlanI EXECUTIVE SUMMARYIncorporated in 1894. the Northfield Electric Department (NED) senes approximately 2.200 customers 111 Northfield. Berlin, and Moretown. Northfield, with just over 6.200 residents. IS located in central Vermon Northfield-Integrated-Resource-Plant, ten miles south of the State’s capital. Montpelier. It is home to Norwich University, one of NED'S largest customers and the oldest private militarNorthfield-Integrated-Resource-Plan
y college in the United States. As a small municipal utility NED IS careful to balance maintaining reliability and reasonable cost levels With the neeNorthfield Electric Department - 2019 Integrated Resource F.Northfield Electric Department2019 Integrated Resource PlanFiled with the Public Utility C Northfield-Integrated-Resource-Planmercial customers. Residential customers make up over 85% of the customer mix while accounting for about a third of NED’S retail kWh sales. Thirteen large commercial customers (about 1%) make up about 50% of retail usage with the remaining retail sales going to small commercial and public authority Northfield-Integrated-Resource-PlancustomersConsistent With regulatory requirements, every 3 years NED IS required to prepare and implement a least cost integrated plan (also called anNorthfield-Integrated-Resource-Plan
Integrated Resource Plan. Or IRPt for provision of energy services to Its Vermont customers. NED’S Integrated Resource Plan (IRP) is intended to meet Northfield Electric Department - 2019 Integrated Resource F.Northfield Electric Department2019 Integrated Resource PlanFiled with the Public Utility C Northfield-Integrated-Resource-Planconomic costs, through a strategy combining investments and expenditures on energy supply, transmission and distribution capacity, transmission and distribution efficiency, and comprehensive energy efficiency programs.ELECTRICITY DEMANDNED is facing a period of relatively flat demand influenced by s Northfield-Integrated-Resource-Planeveral competing factors, all of which carry some uncertainty. Continued adoption of solar net metering reduces demand although the pace at which netNorthfield-Integrated-Resource-Plan
metering Will grow in NED’S territory IS uncertain. As various incentives aimed at transitioning from fossil fuels to cleaner electricity are made avaNorthfield Electric Department - 2019 Integrated Resource F.Northfield Electric Department2019 Integrated Resource PlanFiled with the Public Utility C Northfield-Integrated-Resource-Planf electric vehicles.While no significant change in the demand associated with NED’S largest customers IS currently anticipated, the potential does exist. Norwich University' represents about 30% of NED'S retail load with an additional twelve large customers accounting for another 20%. NED monitors t Northfield-Integrated-Resource-Planhe plans of these large customers in order to anticipate necessary changes to the existing system infrastructure. In the case of a Significant expansiNorthfield-Integrated-Resource-Plan
on by one or more customers detailed engineering studies may be needed to identify necessary system upgrades.ELECTRICITY SUPPLYNED'S current power supNorthfield Electric Department - 2019 Integrated Resource F.Northfield Electric Department2019 Integrated Resource PlanFiled with the Public Utility C Northfield-Integrated-Resource-Plang duration, with most contracts carrying a fixed price feature. Designed to meet anticipated demand, as well as acting as a hedge against exposure to volatile ISO-New England spot prices, the portfolio is heavily weighted toward hydro, solar and other renewable sources.When considering future electr Northfield-Integrated-Resource-Planicity demand. NED seeks to supplement its existing resources with market contracts as well as new demand-side and supply resources. NED believes thatNorthfield-Integrated-Resource-Plan
in addition to working with financially stable counterparties, it is important for new resource decisions to balance four important characteristics: nNorthfield Electric Department - 2019 Integrated Resource F.Northfield Electric Department2019 Integrated Resource PlanFiled with the Public Utility C Northfield-Integrated-Resource-Planin terms of delivery at specific times and locations. NED anticipates regional availability of competitively priced renewable resources includingPage iiNorthfield Electric Department - 2019 Integrated Resource Plansolar, wind, and hydro. In addition to being a factor in meeting future electricity re Northfield-Integrated-Resource-Planquirements, this category of resource contributes to meeting Renewal Energy Standard goals. Gas fired generation may have a role to play in the futureNorthfield-Integrated-Resource-Plan
portfolio for reliability purposes. As battery storage technology matures and proves economically feasible NED sees potential for storage to play an Northfield Electric Department - 2019 Integrated Resource F.Northfield Electric Department2019 Integrated Resource PlanFiled with the Public Utility C Northfield-Integrated-Resource-Plansource acquisition decisions. NED employs an integrated financial model that lakes into account impacts on load and subsequent effects on revenue and power supply costs, as well effects on investment, financing and operating costs. Use of the integrated model allows for evaluation of uncertainly rel Northfield-Integrated-Resource-Planated to key variables, on the way to identifying anticipated rale impacts over lime. While rale trajectory is the primary metric NED relies on to evalNorthfield-Integrated-Resource-Plan
uate resource decisions on an individual or portfolio basis there are other more subjective factors to consider, including resource diversity or exposNorthfield Electric Department - 2019 Integrated Resource F.Northfield Electric Department2019 Integrated Resource PlanFiled with the Public Utility C Northfield-Integrated-Resource-Planlan (TRP). The first of these involves the need to cover the roughly 10% of NED’s energy' requirement that is currently' unhedged by long term contracts over the 2020 to 2022 period. Options being evaluated by NED include leaving the position unhedged, purchasing a fixed-price market contract for en Northfield-Integrated-Resource-Planergy, or purchasing a fixed-price contract for hydro energy including RECs. The main factors expected to impact this decision are volatility in gas prNorthfield-Integrated-Resource-Plan
ices, which are a driver of New England energy prices, and expected pricing for RECs needed to meet NED’s obligations under Vermont’s Renewable EnergyNorthfield Electric Department - 2019 Integrated Resource F.Northfield Electric Department2019 Integrated Resource PlanFiled with the Public Utility C Northfield-Integrated-Resource-Planled termination of current long-term contracts. Similar to the first decision described above, the evaluation of options to replace these resources is expected to be primarily influenced by energy price and REC price considerations. NED notes that the latter decision, which will nearly coincide with Northfield-Integrated-Resource-Plan the exphation of the current renewable energy standard, may be subject to uncertaintyarising from changes in RES requirements.Because NED holds entitNorthfield-Integrated-Resource-Plan
lements in capacity- resources that exceed expected requirements based on demand, no capacity related resource decisions are anticipated.RENEWABLE ENENorthfield Electric Department - 2019 Integrated Resource F.Northfield Electric Department2019 Integrated Resource PlanFiled with the Public Utility C Northfield-Integrated-Resource-Plan from renewable resources. The RES obligation increases over lime and is Stratified into three categories. Tier 1. HER II and HER ill. NED- s obligations under HER 1 can be satisfied by owning or purchasing RECs from qualifying regional resources. TIER ĨĨ obligations must be satisfied by owning or p Northfield-Integrated-Resource-Planurchasing RECs from renewable resources located within Vermont. Satisfaction of NED’s TIER ITT obligation involves energy transformation, or reductionNorthfield-Integrated-Resource-Plan
of fossil fuel use within its territory. 11ER 3 programs can consist of thermal efficiency measures, electrification of rhe transportation sector, anNorthfield Electric Department - 2019 Integrated Resource F.Northfield Electric Department2019 Integrated Resource PlanFiled with the Public Utility C Northfield-Integrated-Resource-Planof traditional fossil fuel applications such as space heating, water heating, or electric vehicles to electric power. NED receives credits toward Its HER 111 obligation. More detail regarding NED’s plans Io meet its TIER ĨĨĨ obligation is available in Appendix B to this document.ELECTRICITY TRANSMIS Northfield-Integrated-Resource-PlanSION AND DISTRIBUTIONPage iiiNorthfield Electric Department - 2019 Integrated Resource PlanNED has a compact sen ice territory as a result of being aNorthfield-Integrated-Resource-Plan
small, municipal-owned electric utility and has benefitted from several major system improvements over the past 15 years, including an upgrade of distNorthfield Electric Department - 2019 Integrated Resource F.Northfield Electric Department2019 Integrated Resource PlanFiled with the Public Utility C Northfield-Integrated-Resource-Plan cross-shaped configuration running generally north-south, and east-west from the center of town out of the King Street Substation. Most of the Norwich University load is served by the Norwich University Substation located on campus and fed from the King Street Substation. The capacity of the sub-tr Northfield-Integrated-Resource-Planansmission line to the Norwich University Substation is currently more than adequate to supply the NU campus and is currently loaded to less than halfNorthfield-Integrated-Resource-Plan
Its capacity.In addition to upgrading and routinely maintaining the system to ensure efficiency and reliability. NED IS looking at the need to modernGọi ngay
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