The General Assembly finds:
(1) The Vermont Yankee nuclear power station (Vermont Yankee) in Vernon provides a very large fraction of the State's power supply and is by far the largest power plant operating in the State.(2) Whether the plant runs to the end of its current license, is relicensed by the federal government, or is required to shut down on short notice, that large fraction of the State's supply will need to be replaced.(3) The State's future power supply should be diverse, reliable, economically sound, and environmentally sustainable.(4) In order to make a smooth transition to the future, the State needs to accelerate Vermont's investment in electricity resources that are economically and environmentally sound and that can be acquired in modest increments.(5) In making this transition, there is a great value in investing in renewable energy sources; efficient, combined heat and power facilities; and energy efficiency.(6) In support of these objectives, the General Assembly and Public Service Board have: (A) Created the Statewide Energy Efficiency Fund and authorized significant ratepayer charges to support cost-effective investments in end-use energy efficiency resources.(B) Provided significant support for renewable resources through the creation of a statewide purchasing pool with long-term contracts for qualifying facilities, and a renewable portfolio standard, and are creating a related program to accelerate investments in new renewable and combined-heat and power projects.(C) Assured that these resources are supported financially by Vermont's utilities and ratepayers, including the former owners of Vermont Yankee.(7) In addition to these existing mechanisms, there is a need for a Clean Energy Development Fund to support investment in clean energy resources in order to permit adequate power supply diversity.Added 2005, No. 74 , § 2.