Northern New England Energy Corporation has been a Vermont corporation for almost twenty years. NNEEC has investments of almost $200 million in two independent operating companies.
Portland Natural Gas Transmission System (PNGTS):
NNEEC owns 38% of PNGTS, a company that operates a new, high-capacity, interstate gas pipeline. PNGTS began serving New England in 1999.
NNEEC acquired Vermont Gas in 1986 and has owned and operated VGS as a closely held corporation since that time. NNEEC is a wholly-owned subsidiary of Gaz Métro.
• Local management and control.
• A board of directors that includes both Gaz Métro and local representation.
• A long-term strategic outlook and positive regulatory relations.
• Reinvested more than $100 million of NNEEC earnings in the VGS system.
• Expanded natural gas service to more than 21,000 new customers.
• Upgraded the VGS natural gas system to a state-of-the-art system.
• Achieved increased efficiencies and cost savings that have resulted in Vermont Gas consistently having among the lowest natural gas rates in all of New England.
• Invested over $13 million in energy efficiency programs, receiving national recognition and saving Vermonters 3,700 Mcf on peak day and 10 bcf over the life of measures. This is equivalent to one full year of Vermont Gas demand.
Displaced almost 65.6 million gallons of #2 fuel oil consumption. By avoiding fuel oil consumption, Vermont Gas has provided significant environmental benefits to Vermont, including decreased greenhouse gas emissions, reduced air pollution from SOx, NOx and particulate matter, and reduced fuel usage through increased energy efficiency.