SUSTAINABILITY REPORT 2008 SECTION 8: Company Facts & Figures

Company Name:                                              Green Mountain Power

Headquarters:                                                   Colchester, Vermont, U.S.A

Owner:                                                                 Northern New England Energy Corporation (a wholly-owned subsidiary of Gaz Métro)

Number of Employees:                                 193

SD 2.8

Green Mountain Power transmits, distributes, and sells electricity and utility construction services in the State of Vermont in a service territory with approximately one quarter of Vermont's population and 94,000 customers.  In April 2007 we merged with Northern New England Energy Corporation, a wholly-owned subsidiary of Gaz Métro, a leading Quebec energy company with a long history of investment in Vermont.  However, we continue as a locally-run company that is regulated by the state of Vermont.  The following compares our power generation over the past four years.  SD 2.8

 

Today, 84% of our electric distribution system is above ground.  EU 3   Overall, our T&D losses are 3% (transmission) and 5.2% (distribution).  EU 13

 

Based on the most recent ISO-NE Marginal Emissions Rate Analysis Report, the marginal thermal efficiency of plants dispatched in New England is 7.667 MBtu/MWh.  This translates to a 44.52% energy efficiency rate. 

History

Green Mountain Power Corporation traces its origins to 1893, when the Vergennes Electric Company was organized to provide street lighting for the community of Vergennes, Vermont.  Our 115-year history as an electric utility also began when private entrepreneurs dammed some of Vermont's waterways to create power to run mills, streetcars, and, eventually, the state's economy in western and central Vermont.

Today, Green Mountain Power is headquartered in Colchester, Vermont, and serves approximately 94,000 customers in nine counties and 122 different communities.  We sell electricity and energy services and products to approximately 25% of Vermont's retail electricity customers and we sell wholesale electric power in New England and provide operations services to other utilities in Vermont.

Green Mountain Power Service Area

Vision

Green Mountain Power is committed to:

• Be the most efficient electric utility in the United States with a long-term focus on distribution and distribution services.
• Deliver superior energy services to our customers.
• Be environmentally responsible.
• Be a premier employer that leverages technology and invests in highly trained people.

"Premier employer" means an employer who provides its employees with an attractive benefits package, a living wage, access to wellness programs, a strong safety program, opportunities for continued training and education, and flexibility to maintain a healthy work-life balance.  We also consider employee engagement, including feedback on this report, to be a key element in ensuring that employees feel that their voice matters with respect to sustainability performance and overall company strategy.

Our core corporate values include delivering safe, fast, and effective service; environmental responsibility; and profitability.  SD 4.8

 

Retail Sales and Lease Transmissions, in GWh

Organizational Changes in 2008

In December 2007, Mary Powell was named to succeed Chris Dutton as president and chief executive officer when he retired in August 2008, thus bringing to fruition a leadership transition plan started five years ago.  Ms. Powell has been a key driver in the restructuring of Green Mountain Power from a traditional electric utility to a high performing company that is now noted for using technology to drive customer satisfaction and to produce consistently strong financial results.  With her promotion to the CEO position, Ms. Powell became a member of the Green Mountain Power Board of Directors.  Mr. Dutton remains a member of the Board following his retirement as CEO.  Ms. Powell served as senior vice president and chief operating officer at Green Mountain Power.  Ms. Powell joined Green Mountain Power in 1998 after experience as a business owner and in business management at the executive level in both the public and private sector.   SD 2.9

Due to our recent budget trimming measures, we also eliminated two officer positions through retirements in 2008 to trim our managerial budget.

 

 

Philosophy and Code of Ethics

Green Mountain Power expects its employees to rely upon a code of ethics and conduct that includes the following standards:

• Tell the truth
• Obey the law
• Treat others with respect
• Avoid conflicts of interest
• Never misuse company property
• Refuse inappropriate gifts from others
• Refuse to give inappropriate company gifts to others
• Keep company and customer information confidential
• Respect our environment
• Keep our workplace safe
• Promote integrity and ethics throughout the company

The Code of Ethics and Conduct is available at www.greenmountainpower.biz

Rate Changes

Under our alternative regulation system approved by the Vermont Public Service Board in 2006, our customers' bills are adjusted quarterly for changes in power supply costs. The power supply costs for the recent quarter (first quarter 2009) were higher than we had forecasted, and our customers will receive a charge on their bills from April through June 2009 of about 4.5 percent.  For a typical residential customer using 600 kWh, the increase will be $3.78 each month.  The increase is communicated to our customers in their bill inserts.

Corporate Governance

The chair of the highest governance body is not an executive officer at Green Mountain Power.  The membership of our Board of Directors changed slightly when we were acquired by Gaz Métro, but they still meet quarterly with our senior management team on a formal basis, and speak more often informally.  The Corporate Scorecard sent to the Board each quarter includes evaluation of environmental and socially responsible efforts.  Senior management reports to the Board on operational issues, which would include sustainability issues.  Mary Powell, CEO, has ultimate responsibility for sustainability issues.  The Board of Directors committees include Audit, Compensation, and Governance.

Every employee is evaluated on environmental performance in his or her individual scorecard. That performance is reviewed by each staff person's manager.  LA13, SD 1.2.6, 4.1, 4.4-4.10. 

Years ago Green Mountain Power's senior management set environmental responsibility as one of our key values and has made sure to integrate that value into the expectations of every employee.  Each department has goals relating to environmental performance, and employees throughout the company are evaluated on whether they achieve them. Our performance-based bonus system takes those goals into account.  Although not at the executive level, some sustainability deliverables are part of our management bonus compensation system for mid and upper level managers. 

Membership in Organizations

Green Mountain Power belongs to the following groups and organizations (SD 4.13):

 

Human Rights

We operate solely within Vermont and purchase power and other resources from U.S. and Canadian entities.  Therefore, we operate under all human rights policies of the U.S. and Canada.  We train all employees (including new hires) on harassment prevention and respectful workplace practices, and this training is documented.  Our code of ethics encourages employees to contact our general counsel, human resources manager, or submit a statement anonymously to Company management if they have a related concern. HR3

Green Mountain Power employees are free to associate and collectively bargain. Our union employees (54% of our workforce) are protected by their union contract, which includes a collective bargaining agreement.  Relative to all our employees, we comply with the Fair Labor Standards Act.  Our Code of Ethics prohibits bribery and other corrupt practices. Our respectful workplace policy describes non-retaliation and procedures to follow if an employee believes he or she has been retaliated against and if disciplinary action is required. Our Code of Ethics also describes policies to prevent anti-competitive behavior and to protect the rights of employees to organize and bargain collectively. HR5

Restructuring

Gaz Métro's acquisition of Green Mountain Power did not prompt any restructuring, as we were able to maintain our autonomy and management structure.  Despite the current economic climate, we are not anticipating any layoffs in the near future.  Two officer positions were eliminated in 2008 via retirement, however, in order to trim our management budget.

Product Responsibility

Green Mountain Power does not have a specific advertising policy; however, any communication with our customers, whether through purchased media, bill inserts or other methods, is reviewed by several people (including legal, when appropriate) to ensure that our communications are accurate and appropriate.  While we do not have a formal advertising program, we do strive to adhere to laws, standards, and voluntary codes related to marketing communications, including advertising, promotion, and sponsorship.  Please note that Green Mountain Power does very little advertising and promotions. PR6

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SECTION 1: PERFORMANCE OVERVIEW                                         

SECTION 2: OUR MATERIAL ISSUES                                                

SECTION 3: THE SUSTAINABILITY OF OUR POWER PROFILE                     

SECTION 4: RESOURCE USE AND OPERATIONS                            

SECTION 5: EMPLOYER                                                                      

SECTION 6: CUSTOMERS AND COMMUNITY                                               

SECTION 7: FINANCIAL                                                                

SECTION 8: COMPANY FACTS & FIGURES                                       

SECTION 9:  GLOBAL REPORTING INITIATIVE (GRI) SUMMARY