Overview
What is Vepp Inc?
Vepp Inc, based in Manchester Center, Vermont, serves as the Standard Offer Facilitator under the Vermont Public Utility Commission. This role involves purchasing electricity from owners of qualifying renewable energy generation facilities, a requirement set by state legislation. Vepp Inc enters into contracts for this electricity, with each contract's rates and approval under the supervision of the State Commission. Their responsibilities include billing and collecting payments from electric utilities, remitting funds to the qualified facility owners, metering the facility output, and managing the statewide power purchasing programs in compliance with the State Commission's rules. With a team of three employees, Vepp Inc plays a crucial role in Vermont's unique electric power purchasing system, ensuring proper financial and power accounting.
Official website here: www.vermontstandardoffer.com
Is Vepp Inc legitimate?
Vepp Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Vepp Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $154,593
Professional Fundraising Fees: $0
Other Salaries and Wages: $114,113
For more financial information, click here
Official website here: www.vermontstandardoffer.com
What is the mission statement of Vepp Inc?
Vepp Inc, as designated by the Vermont Public Utility Commission, serves as the Standard Offer Facilitator for electricity in the state. Its primary role is to oversee the purchase of electricity from owners of qualifying renewable energy generation facilities within the unique electric power purchasing system established by federal and state legislation. This involves entering into contracts for the purchase of electricity, which are subject to approval by the State Commission at predetermined rates.
Vepp Inc is responsible for ensuring proper power and financial accounting for the statewide purchasing system, monitoring compliance with contracts, and enforcing their terms if necessary. Additionally, it handles billing and collection of payments from electric utilities, remitting these funds to the owners of qualified facilities. Furthermore, Vepp Inc manages the metering of qualified facility output and supports the overall administration of the statewide power purchasing programs, in accordance with the rules set by the State Commission.
Official website here: www.vermontstandardoffer.com
Who is the CEO of Vepp Inc?
Matthew Rubin is the President of Vepp Inc.
Official website here: www.vermontstandardoffer.com
What is the revenue of Vepp Inc?
Vepp Inc's revenue in 2022 was $539,195.
Official website here: www.vermontstandardoffer.com
Who are the executives of Vepp Inc and what are their salaries?
The average compensation at Vepp Inc during 2022 was $89,569. There are 3 employees at Vepp Inc.
Here are 12 key members and their salaries:
- Compensation: $154,593
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Official website here: www.vermontstandardoffer.com
Where can I find the form 990 for Vepp Inc?
Vepp Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.vermontstandardoffer.com
Learn more at the official website: www.vermontstandardoffer.com
Mission Statement of Vepp Inc
Vepp Inc, serving in its role as the Standard Offer Facilitator under the Vermont Public Utility Commission, is instrumental in the unique power purchasing system established in Vermont. This system was instituted in response to federal and state legislation, with the aim to ensure electric utility companies purchase electricity from qualifying energy generation facilities. Vepp Inc's primary mission is to oversee this statewide purchasing system, ensuring proper power and financial accounting, monitoring compliance with contracts, and enforcing contract terms if necessary. Acting as an intermediary, Vepp Inc plays a crucial role in maintaining the integrity of the system, while also entering into contracts for the purchase of electricity from qualified renewable energy generation facilities. These contracts, approved by the State Commission at established rates, are then subject to billing and collection from electric utilities, with payments remitted to the facility owners. Vepp Inc's functions are guided by the rules established by the State Commission, thereby supporting the State in managing its power purchasing programs effectively.
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Impact
October, 2024
Vepp Inc significantly influences Vermont's energy landscape by serving as the Standard Offer Facilitator for electricity. This role entails acting as an intermediary between renewable energy generators and electric utilities, vital for implementing a unique electric power purchasing system mandated by state and federal legislation.
Through its functions, Vepp Inc ensures that electric utility companies comply with purchasing requirements set forth by the Vermont Public Utility Commission (PUC). Its responsibilities include facilitating contracts for electricity from qualifying renewable energy facilities, managing billing and collections, and monitoring compliance with contractual obligations. This structured approach promotes the growth and integration of renewable energy sources into Vermont's energy supply, aligning with broader goals of sustainability and energy independence.
Vepp Inc's operations contribute to a systematic and equitable purchasing framework, ensuring that utilities and renewable energy producers can interact efficiently and transparently. By overseeing the financial and operational aspects of this system, Vepp Inc plays a crucial role in supporting Vermont’s commitment to renewable energy development, benefiting both the environment and the local economy.
This information is meant to be a general summary of Vepp Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,170
- Program Service Revenue: $538,025
- Gross Receipts: $539,195
Assets and Liabilities:
- Total Assets: $5,534,796
- Total Liabilities: $5,384,513
- Net Assets: $150,283
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Agent fees
Revenue
$410,705
Other
Revenue
$127,320
Organization Details
Founding Year
1994
Phone
(802) 362-0748Principal Officer
Matthew Rubin
Main Address
PO Box 1938, Manchester Center, VT, 05255
Website
www.vermontstandardoffer.comNTEE Category
Code: W99 - Public benefit
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