2024-05-09T11:01:08-05:00 2023-06-30 020449197 OSTER & WHEELER PC 265 WASHINGTON ST KEENE NH 03431 990 2022-07-01 030352426 VEPP INC VEPP 8023620748 PO BOX 1938 MANCHESTER CENTER VT 052551938 CAROLYN ALDERMAN EXECUTIVE DIRECTOR 8023620748 2024-05-09 1 CAROLYN ALDERMAN 999009999 0 CHRISTOPHER R WHEELER CPA P01436628 6033524500 2024-05-09 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z CAROLYN ALDERMAN PO BOX 1938 MANCHESTER CENTER VT 052551938 573152 0 X WWW.VERMONTSTANDARDOFFER.COM X 1994 VT TO ACT UNDER THE VERMONT PUBLIC UTILITY COMMISSION AS THE STANDARD OFFER FACILITATOR FOR ELECTRICITY IN THE STATE OF VERMONT. 11 11 3 0 0 0 0 0 538025 532650 1170 40502 0 0 539195 573152 0 0 0 0 348234 369340 0 0 0 132686 134766 480920 504106 58275 69046 5534796 5776576 5384513 5557247 150283 219329 X TO ACT UNDER THE VERMONT PUBLIC UTILITY COMMISSION AS THE STANDARD OFFER FACILITATOR FOR ELECTRICITY IN THE STATE OF VERMONT. 0 0 444855 532650 THE STATE OF VERMONT HAS INITIATED A UNIQUE SYSTEM OF ELECTRIC POWER PURCHASING CREATED IN RESPONSE TO FEDERAL AND STATE LEGISLATION. THE PUBLIC UTILITIES REGULATORY POLICY ACT OF 1978 (PURPA) REQUIRES THAT ELECTRIC UTILITY COMPANIES PURCHASE ELECTRICITY OFFERED BY OWNERS OF CERTAIN QUALIFYING ELECTRIC GENERATING FACILITIES. SIMILARLY, A NEWER STATE LAW, V.S.A. 30 8005(A) ALSO REQUIRES ELECTRIC UTILITY COMPANIES TO PURCHASE ELECTRICITY OFFERED BY OWNERS OF CERTAIN QUALIFYING RENEWABLE ELECTRIC GENERATING FACILITIES. UNDER STATE LAW AND RULES PROMULGATED BY THE VERMONT PUBLIC UTILITY COMMISSION, RATES TO BE PAID FOR THIS ELECTRICITY ARE APPROVED BY THE PUBLIC UTILITY COMMISSION ON A STATEWIDE BASIS. VERMONT'S RETAIL UTILITIES ARE REQUIRED TO PURCHASE THIS ELECTRICITY ON A PRO RATA BASIS TO THEIR STATE LOAD.THE INTEGRATED SYSTEM OF ELECTRIC POWER PURCHASING IN THE STATE NECESSARILY REQUIRES THE STATE GOVERNMENT TO ASSUME FUNCTIONS MORE COMMONLY CARRIED OUT BY PRIVATE PARTIES. BECAUSE UTILITIES AND THE OWNERS OF MAJOR QUALIFIED FACILITIES TRANSACTING UNDER THIS SYSTEM DO NOT CONTRACT DIRECTLY WITH ONE ANOTHER FOR PURCHASE AND SALE OF ELECTRICITY, AN INTERMEDIARY IS REQUIRED TO ENSURE PROPER POWER AND FINANCIAL ACCOUNTING FOR THE STATEWIDE PURCHASING SYSTEM, TO MONITOR COMPLIANCE WITH CONTRACTS, AND IF NECESSARY TO ENFORCE THE TERMS OF THOSE CONTRACTS. THIS INTERMEDIARY IS KNOWN AS THE STANDARD OFFER FACILITATOR, AN ENTITY DESIGNATED BY THE PUBLIC UTILITY COMMISSION TO PERFORM THE POWER AND FINANCIAL ACCOUNTING FUNCTIONS ASSOCIATED WITH THE SYSTEM.ON APRIL 13, 2007 VEPP INC WAS DESIGNATED AS THE SPEED FACILITATOR FOR THE STATE (SUBSEQUENTLY CHANGED TO STANDARD OFFER FACILITATOR). IN THOSE CAPACITIES VEPP INC IS REQUIRED TO PURCHASE ELECTRICITY FROM THE OWNERS OF QUALIFYING RENEWABLE ENERGY GENERATION FACILITIES. VEPP INC IS ALSO REQUIRED TO ENTER INTO CONTRACTS FOR THE PURCHASE OF THE ELECTRICITY. EACH SUCH CONTRACT MUST BE APPROVED BY THE STATE COMMISSION AT RATES APPROVED BY THE STATE COMMISSION AT THE TIME THE CONTRACT IS EXECUTED. OTHER REQUIREMENTS OF THE STANDARD OFFER FACILITATOR INCLUDE BILLING AND COLLECTION OF PAYMENTS FROM THE ELECTRIC UTILITIES AND REMITTANCE TO THE OWNERS OF THE QUALIFIED FACILITIES, METERING QUALIFIED FACILITY OUTPUT, AND GENERALLY MANAGING THE STATEWIDE POWER PURCHASING PROGRAMS UNDER RULES OF THE STATE COMMISSION. VEPP INC PERFORMS THESE FUNCTIONS IN SUPPORT OF THE STATE, UNDER THE TERMS OF ITS DESIGNATION AS AN INSTRUMENTALITY OF THE STATE. 444855 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 1 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X IOANA DREW 8023620748 PO BOX 1938 MANCHESTER CENTER VT 052551938 MATHEW RUBIN PRESIDENT 1.00 X X 0 0 0 WILLIAM HARRINGTON DIRECTOR 1.00 X 0 0 0 BRIAN WAXLER TREASURER 1.00 X X 0 0 0 ANDREW LOCKE DIRECTOR 1.00 X 0 0 0 KEN NOLAN DIRECTOR 1.00 X 0 0 0 LOUIS PORTER DIRECTOR 1.00 X 0 0 0 DOUG SMITH VICE PRESIDENT 1.00 X X 0 0 0 CRAIG KIENY DIRECTOR 1.00 X 0 0 0 GINI MILKEY PUBLIC DIRECTOR 1.00 X 0 0 0 KATHLEEN KEENAN PUBLIC DIRECTOR 1.00 X 0 0 0 RITA RICKETSON PUBLIC DIRECTOR 1.00 X 0 0 0 CAROLYN ALDERMAN EXECUTIVE DIRECTOR, SECRETARY 40.00 X X 161238 0 25002 161238 0 25002 1 0 1 0 0 AGENT FEES 221000 462055 462055 OTHER PROGRAM SERVICES 221000 70595 70595 532650 40502 40502 573152 532650 0 40502 199061 179155 19906 118721 106849 11872 6600 5940 660 24130 21717 2413 20828 18745 2083 5066 4559 507 9396 8456 940 10300 9271 1029 10475 9427 1048 10832 5699 5133 720 720 2542 2288 254 1852 1852 13139 3339 9800 4779 4301 478 TELEMETER SERVICES 60110 60110 DUES AND SUBSCRIPTIONS 3676 3308 368 REPAIRS AND MAINTENANCE 1560 1404 156 MISCELLANEOUS 319 287 32 504106 444855 59251 0 25 25 1631833 1790763 1656 2206 20443 13762 8238 6681 3893044 3976901 5534796 5776576 11317 175905 5373196 5381342 5384513 5557247 X 150283 219329 150283 219329 5534796 5776576 69046 0 X 0 1 X 1 0 X 458411 545715 463707 538025 532650 2538508 458411 545715 463707 538025 532650 2538508 0 0 0 2538508 14352 11404 656 1170 40502 68084 14352 11404 656 1170 40502 68084 472763 557119 464363 539195 573152 2606592 0.97390 0.98670 0.02610 0.01330 X 20443 13762 6681 6681 RIGHT-OF-USE ASSET, NET 33299 DUE FROM UTILITIES 3942938 OTHER PRODUCER RECEIVABLES 664 3976901 LEASE LIABILITY 33298 CONTINGENCY ACCOUNT LIABILITY 50018 DUE TO PRODUCERS 3909251 STANDARD OFFER REFUNDABLE DEPOSIT LIABILITY 1388775 5381342 X 573152 0 573152 0 573152 504106 0 504106 0 504106 PART X, LINE 2: THE CORPORATION QUALIFIES AS AN ORGANIZATION EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE CORPORATION HAS EVALUATED ITS SIGNIFICANT TAX POSITIONS, INCLUDING THEIR TAX-EXEMPT STATUS, AND DETERMINED THAT THEY DO NOT NEED TO RECOGNIZE A LIABILITY FOR ANY UNCERTAIN TAX POSITIONS FOR INTEREST, PENALTIES OR POTENTIAL TAXES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED. THE CORPORATION'S ANNUAL FEDERAL RETURN FILINGS (FORMS 990) REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS FOR THE STANDARD THREE-YEAR STATUTE OF LIMITATIONS. 0 0 0 0 0 0 0 0 0 CAROLYN ALDERMAN EXECUTIVE DIRECTOR, SECRETARY 161238 0 0 0 0 0 0 0 0 0 161238 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE TAX RETURN WAS REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS BEFORE THE RETURN WAS FILED. FORM 990, PART VI, SECTION C, LINE 19 NO OTHER DOCUMENTS ARE AVAILABLE TO THE PUBLIC.