VELCO

VELCO

Owns and operates Vermont transmission grid

Overview

VELCO owns and operates Vermont’s high-voltage transmission grid, including transmission lines, substations, switching stations, rights‑of‑way, a statewide emergency radio system, and a 1,600‑mile fiber network that also supports broadband. It moves electricity from generators to local utilities and customers using real‑time monitoring and control of the network. It differentiates itself through ownership by Vermont utilities and a public benefits corporation, along with a for‑profit structure designed to return value to owners and customers and to speak with a unified regional voice on energy issues. Its goal is to provide a reliable grid, coordinated regional energy planning, and continued access to safe, affordable electricity for Vermonters while leveraging infrastructure for broadband and resilience.

Significant Headcount Growth

About VELCO

Simplify's Rating
Why VELCO is rated
B
Rated A on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Industrial & Manufacturing

Energy

Company Size

201-500

Company Stage

Grant

Total Funding

$1M

Headquarters

Rutland, Vermont

Founded

1956

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Simplify's Take

What believers are saying

  • April 2026 leadership hires sharpen governance and corporate strategy before major grid spending.
  • The $13 million DOE-backed SmartValve project targets New York-Vermont transfer bottlenecks.
  • Grid-enhancing technology lets VELCO defer expensive new lines while improving reliability and utilization.

What critics are saying

  • PV20 construction runs through summer 2027; delays freeze promised congestion relief and cost savings.
  • DOE grant conditions and procurement scrutiny raise execution and compliance risk across the SmartValve program.
  • If regional transmission planning bypasses VELCO, its asset base becomes a stranded middleman.

What makes VELCO unique

  • VELCO pioneered transmission-only utility ownership in 1956, a rare statewide monopoly structure.
  • Its 1,500-mile fiber network embeds telecom capabilities into critical grid operations.
  • The 2025 DOE-backed PV20 SmartValve project makes VELCO Vermont’s first grid-enhancing-technology adopter.

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Funding

Total Funding

$1M

Above

Industry Average

Funded Over

1 Rounds

Grant funding comparison data is currently unavailable. We're working to provide this information soon!
Grant Funding Comparison
Coming Soon

Benefits

Paid Vacation

Performance Bonus

Growth & Insights and Company News

Headcount

6 month growth

9%

1 year growth

9%

2 year growth

9%
Vermont Business Magazine
Apr 9th, 2026
VELCO makes key leadership appointments.

VELCO makes key leadership appointments. Submitted by tim on Thu, 04/09/2026 - 15:03 Related Company Michael Hale as Director, and Betsy Bloomer as Vice President of Corporate Affairs Vermont Business Magazine Vermont Electric Power Company (VELCO) today announced two leadership appointments: Michael Hale has been named to the Board of Directors, and Betsy Bloomer has been promoted to Vice President of Corporate Affairs and Strategy. Michael Hale Appointed to VELCO Board of Directors Michael Hale will fill a designated public power seat on VELCO's Board, ensuring continued representation of Vermont's public power utilities. Hale brings more than three decades of public service and utility leadership experience. He spent 22 years in the Town Manager's Office in Shrewsbury, Massachusetts, followed by 10 years as General Manager of Shrewsbury Electric and Cable Operations (SELCO), the community's municipally operated electric and broadband utility. During his tenure, he also served on the Board of the Massachusetts Municipal Wholesale Electric Company (MMWEC) and chaired the Municipal Electric Association of Massachusetts. "Michael's experience in public power and municipal leadership will add valuable perspective to the Board," said Larry Reilly, Chair of VELCO's Board of Directors. "He understands how critical reliable and affordable energy is to communities and will help guide decisions that support long-term value for Vermont." Since retiring from SELCO in 2020, Hale has remained active in community and public service. He currently serves as a part-time Community Relations Officer at a local credit union, provides consulting support to municipalities through the Collins Center at UMass Boston, and serves on several boards, including the Shrewsbury Library Foundation, the Shrewsbury Retirement Board, and as a Trustee of the Worcester Art Museum. "I'm honored to join VELCO's Board and represent Vermont's public power utilities," said Hale. "Reliable and affordable energy is foundational to strong communities, and I look forward to contributing my experience to support sound decisions for Vermont and the New England region." Betsy Bloomer Promoted to Vice President of Corporate Affairs and Strategy Betsy Bloomer has been promoted to Vice President of Corporate Affairs and Strategy, where she will lead VELCO's enterprise strategy, external affairs, communications, and public policy engagement. With over 10 years of experience in the utility sector, Bloomer has advanced key initiatives and strengthened engagement with stakeholders across the region. In her new role, she will serve as a key advisor to the President and CEO and executive leadership team, helping guide VELCO's long-term strategic direction. "Betsy has been a steady and trusted leader during her time at VELCO," said Tom Dunn, President and CEO. "She brings a strong ability to translate complex issues into clear strategy and action and has consistently advanced our strategic objectives. Betsy has a proven track record of connecting strategy to execution, building trusted relationships across Vermont and New England, and strengthening our engagement with stakeholders. She is well positioned to ensure our work remains focused and effective in delivering reliable, affordable energy for the region." "It's a privilege to take on this role at an important time for Vermont's energy future," said Bloomer. "VELCO's work connects reliability, affordability, and the clean energy transition. I look forward to working with our teams and partners to advance strategies that strengthen the grid and deliver long-term value for Vermont." Betsy Bloomer has more than 10 years of experience in the utility sector, including work at Green Mountain Power and roles supporting Vermont's Hurricane Irene Recovery Office. A native of Vermont's Northeast Kingdom, she resides in Rutland with her husband and three young children. About VELCO Vermont Electric Power Company: (VELCO) is Vermont's statewide electric transmission provider, with our sights set on creating a sustainable Vermont through our people, assets, relationships and operating model. Formed in 1956 when local Vermont utilities established the nation's first "transmission only" company to access clean hydro power from New York, VELCO's system now includes: 740 miles of transmission lines, 55 substations, switching stations and terminal facilities, 13,000 acres of rights-of-way and a growing 1,500-mile fiber optic network that monitors and controls the electric system and serves as a key link for Vermonters' high-speed data internet access. We are owned by the state's 17 distribution utilities and a benefit corporation. VELCO is a for-profit company with a financial structure designed to return value to our owners, their customers, and to every Vermonter. For more information please visit our website at www.velco.com. RUTLAND, VT, April 9, 2026 - Vermont Electric Power Company www.velco.com To support vital journalism, access our archives and get unique features like our award-winning profiles, book of lists & business-to-business directory, subscribe HERE! Vermont Business Magazine

The Gilmer Mirror
Sep 26th, 2024
SWEPCO Names New Vice President of Regulatory Affairs & Finance

Sept. 26, 2024 -Southwestern Electric Power Company (SWEPCO) recently named Melissa Gage as its new VP Regulatory Affairs and Finance.

Vermont Business Magazine
Apr 15th, 2024
VELCO appoints new director, promotes Mullins to V.P.

Vermont Electric Power Co. has appointed Karin Chamberlain to its board of directors and promoted Cheryl Mullins to vice president and chief human resources officer.

Rutland Herald
Oct 29th, 2023
Reader Bulletins: Oct. 27- Nov. 1, 2023

RUTLAND - Vermont Electric Power Co., electricity transmission services provider, announced Mike Fiske as chief operating officer and Brian Connaughton as vice president of Transmission Services and Asset Maintenance.

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