Welcome to Grid Brief! Here’s what we’re looking at today: Green Mountain Power has a bold new battery storage plan, the North Carolina legislature overrode their governor’s veto of a bill to help nuclear, and more.

VT Utility Proposes Big Storage Rollout

Green Mountain Power, a Vermont utility, has proposed an ambitious storage plan to harden its grid. GMP submitted a petition to Vermont’s Public Utility Commission to approve this new program, called the Zero Outages Initiative.

“GMP is seeking authorization for up to $250 million in hardening investments, along with $30 million for customer and community storage programs, saying these investments will ‘save on operations ... while providing many tangible benefits to the grid and for customers,’” reports Utility Dive.

The Zero Outages Initiative has three main goals: to speed up undergrounding distribution lines, to swap main feeder cables with tree wire, and to bring battery storage to all Vermonters by the end of the decade. GMP believes that installing batteries will be cheaper than erecting and maintaining more power lines. The utility spent $45 million restoring its system last year after major winter storms, according to GMP CEO Marie McClure.

“Where we came up with the concept was living both as the folks responsible in the state for providing this grid, and as Vermonters,” McClure told Utility Dive. “We experienced what this past winter was like, relative to the weather and our own outages in our homes.”

McClure believes that storage will help “unlock” the power of renewable energy and “decentralize” Vermont’s energy system, something she sees becoming a nation-wide trend.

Vermont sits in the ISO-New England power market which relies on natural gas for most of its generation. Over the winter, New England relied on oil-powered generators to satisfy one-fifth of its demand at certain junctures.

Share Grid Brief

We rely on word of mouth to grow. If you're enjoying this, don't forget to forward Grid Brief to your friends and ask them to subscribe!

NC Legislature Overrides Gov for Nuclear

On Tuesday, the North Carolina General Assembly overrode several of Governor Roy Cooper’s vetoes. One of the bills the legislature passed included nuclear as a clean energy.

“S.B. 678, ‘Clean Energy/Other Changes,’ which is designed to help pave the way for more investment in nuclear energy in North Carolina by defining ‘clean’ energy and replacing ‘renewable energy’ in law with ‘clean energy,’” reports the Carolina Journals. "All Senate Republicans and one Democrat voted in favor. The House passed it 66 to 36 with support from nine Democrats and all Republicans but one.”

“Higher electric rates disproportionately hurt low-income families,” said Sen. Paul Newton, R-Cabarrus, one of the bill’s sponsors. “The provisions in this bill that Governor Cooper rejected… will help North Carolina move towards our clean energy future.”

As we covered in Monday’s overview of electricity generation in the traditional monopoly utility areas, the Carolinas rely heavily on their nuclear fleet for power.

Conversation Starters

• Japan’s carbon trading mechanism hits the Tokyo Stock Exchange. “The Tokyo Stock Exchange (TSE) started trading carbon credits on Wednesday, a key element in Japan's strategy to tackle climate change. The world's fifth-largest carbon dioxide (CO2) emitter is the latest among Asian nations to formulate plans for a carbon pricing mechanism and emissions trading system, aiming to cut emissions by 46% from 2013 levels by 2030 and achieve net zero by 2050,” reports Reuters. “Japan believes the scheme, which combines emissions trading and a carbon levy, will help make the world's third-largest economy greener while maintaining the global competitiveness of its industries, including heavy emitters like steelmakers.”

• Venezuela is working around American sanctions. “Venezuela is deploying a secret weapon to defeat strict U.S. sanctions aimed at blocking the OPEC member’s economically crucial crude oil exports, a dark fleet of tanker vessels using a range of strategies to conceal their location. Recently the dark fleet shipping Venezuela’s oil to key customers, mainly in Asia, grew significantly with the assistance of Russia and Iran. Indeed, from 2020 authoritarian Iran emerged as a key strategic ally that is propping up the autocratic Maduro regime,” reports Oilprice.com. “Tehran supplies Venezuela not only with a steady supply of condensate for blending with the country’s extra-heavy crude oil but also the parts and technical know-how required to rebuild vital petroleum infrastructure. This includes access to Iran’s fleet of tanker vessels which ship Venezuela’s crude oil to buyers, primarily in Asia, generating urgently needed hard income for a near-bankrupt Caracas.”

• Putin foresees OPEC+ cuts to continue. “Russian President Vladimir Putin told an energy conference in Moscow on Wednesday that Russia and Saudi Arabia would ‘most likely’ extend output cuts into 2024 and warned that clashes in the Middle East could impact oil exports with higher shipping and insurance costs,” reports Oilprice.com. "‘I am sure that the coordination of the OPEC+ partners' actions will continue,’ Putin told the conference. ‘This is important for the predictability of the oil market, and ultimately for the well-being of all mankind,’ Putin added, noting that while Russia and Saudi Arabia would likely ‘continue [their] cooperation,’ ‘we need to consult with colleagues - our decisions are made by consensus.’”

Crom’s Blessing

Interested in sponsoring Grid Brief?

Email [email protected] for our media kit to learn more about sponsorship opportunities.