STATE OF VERMONT PUBLIC SERVICE BOARD PAY PLAN

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STATE OF VERMONT PUBLIC SERVICE BOARD PAY PLAN It is the intent of the Public Service Board to compensate exempt employees equitably, subject to budgetary constraints, on the basis of experience, expertise, responsibilities, and meritorious performance. Job definitions and position responsibilities are subject to change at any time at the discretion of the Board Chair. DEPARTMENT OF HUMAN RESOURCES Effective Dates: July 1, 2015 to June 30, 2016

UTILITIES ANALYSTS Primary Functions: Utilities Analysts assist the Public Service Board in the ongoing supervision of the rates, tariffs, and terms of service of regulated utilities. Incumbents will demonstrate varying degrees of technical skill required to perform complex and detailed calculations and analyses. A broad understanding of the policy underlying utility regulation is required as is the ability to weigh the probability of outcomes in relation to each other. Service as an administrative hearing officer is also an important component of the position. Success as a Utilities Analyst relies on extensive human relations skills and the ability to work closely with the staff of regulated utilities, the Department of Public Service, and other staff and members of the Public Service Board. Principal Duties and Responsibilities: A demonstrated ability to perform assigned duties which may include, but are not limited to: advising the Board on technical matters requiring engineering, economic, and/or financial expertise; serving as hearing officer; reviewing rate cases filed by utilities; advising Board and other hearing officers concerning cost of service and rate design; reviewing General Order 45 filings; reviewing and obtaining Board approval for special contracts filed by the utilities; reviewing and advising the Board concerning each utility's growth forecasts, generation mix, additions of generation sources and off system and pool sales; reviewing and advising the Board concerning utilities' demand-side management programs; reviewing and advising the Board and other hearing officers with respect to the proposed financing plans of utilities, financial statements for PURPA projects, and the need for levelized rates; and participating in hearings involving the calculation of the state's composite avoided cost. Utilities Analyst I Bachelors degree, preferably in accounting, public or business administration, economics, or finance, (or the equivalent in additional related work experience), plus 2-4 years of related work experience is required. (NOTE: relevant graduate work may be substituted for experience on a semester for six-month basis). The ability to perform complex calculations and analyses for rate case reviews is required, as are outstanding human relations skills and the ability to influence others. Utilities Analyst I Minimum Hiring Range $40,872 $19.65 Maximum Hiring Range $53,102 $25.53 Maximum Salary $61,194 $29.42 2

Utilities Analyst II Bachelors degree or the equivalent (as stated above), plus 4-7 years of relevant work experience is required. (NOTE: Masters degree or the equivalent, plus 2-5 years of relevant experience may be substituted). A demonstrated ability to perform the duties of UA 1, plus the ability to handle rate cases, GO 45 s and special contracts is also required at this level. Utilities Analyst II Minimum Hiring Range $49,026 $23.57 Maximum Hiring Range $63,482 $30.52 Maximum Salary $70,408 $33.85 Utilities Analyst III Bachelor s degree or the equivalent (as stated above), plus 7 or more years of relevant work experience is required. (NOTE: Masters degree or the equivalent, plus 5 or more years of relevant experience may be substituted). A demonstrated ability to perform all levels of Utilities Analyst work as may be assigned is also required. Utilities Analyst III Minimum Hiring Range $58,906 $28.32 Maximum Hiring Range $73,320 $35.25 Maximum Salary $84,344 $40.55 ENVIRONMENTAL ANALYST Primary Functions: The Environmental Analyst reviews the environmental impacts and consequences of utility proposals submitted to the Board; drafts Board decisions, proposals for decision, and proposed rules; and serves as hearing officer or assists other hearing officers as required. The position is technical and professional, and requires significant knowledge of the environmental implications of utility-related development, as well as a thorough understanding of national, state, and local environmental and land use review procedures. 3

Principal Duties and Responsibilities: Work assignments of the incumbent require independent judgment, initiative, and advanced analytical skills; and may involve significant interaction with other staff of federal and state agencies and regulated utilities. The incumbent may also advise other Board staff on environmental issues; may assist in drafting proposed legislation; and under the direction of the Board Chair, may represent the Board in the legislative process. Environmental Analyst I Bachelors degree, preferably in environmental studies, natural resources, land use planning, geography, (or the equivalent in additional related work experience), plus 2-4 years of directly-related work experience is required. (NOTE: Relevant graduate work may be substituted for experience on a semester for six months basis). Environmental Analyst I Minimum Hiring Range $40,872 $19.65 Maximum Hiring Range $53,102 $25.53 Maximum Salary $61,194 $29.42 Environmental Analyst II Same educational requirements as E.A.I, plus 4-7 years of relevant experience is required. (NOTE: Masters degree or the equivalent, plus 2-5 years of relevant experience may be substituted). A demonstrated ability to handle increasingly complex assignments is also required. Environmental Analyst II Minimum Hiring Range $49,026 $23.57 Maximum Hiring Range $63,482 $30.52 Maximum Salary $70,408 $33.85 4

Environmental Analyst III Same educational requirement as E.A. II, plus 7 or more years of relevant work experience is required. (NOTE: Masters degree or the equivalent, plus 5 or more years of relevant experience may be substituted). Assignment to this level requires the necessary degrees and experience, as well as demonstrated proficiency and performance in all areas of responsibility. Environmental Analyst III Minimum Hiring Range $58,906 $28.32 Maximum Hiring Range $73,320 $35.25 Maximum Salary $84,344 $40.55 5

POLICY ANALYSTS Primary Functions: Policy Analysts research complex policy issues, draft decision proposals and Board rules, and serve as hearing officers in appropriate cases. Incumbents will conduct research projects in all subject areas within the Board's jurisdiction, such as regulatory policies within an industry, environmental management issues, the effect of regulatory policies on consumers, and the quality of service being provided by the utilities. Principal Duties and Responsibilities: Work assignments of the incumbents require independent judgment, initiative, and significant interaction with the Department of Public Service staff, the staff of the Public Service Board, federal and state agencies, staff members of the regulated utilities, and Legislators and their staff. Policy Analysts assist in drafting proposed legislation; and, under the direction of the Board Chair, represent the Board in the legislative process. Policy Analyst I Bachelors degree, preferably in political science, public policy, or public administration, (or the equivalent in additional related work experience), plus 2-4 years of related work experience is required. (NOTE: Relevant graduate work may be substituted for experience on a semester for six months basis). The ability to direct studies or serve as hearing examiner on cases with a limited scope involving a small number of parties or a relatively low level of complexity is also required. Policy Analyst I Minimum Hiring Range $40,872 $19.65 Maximum Hiring Range $53,102 $25.53 Maximum Salary $61,194 $29.42 6

Policy Analyst II Same educational requirements as P.A. I, plus 4-7 years of relevant experience is required. (NOTE: Masters degree or the equivalent, plus 2-5 years of relevant experience may be substituted). A demonstrated ability to perform the duties of P.A.I, and also to handle cases of a more complex nature or to assist others in conducting studies of greater complexity is also required. Policy Analyst II Minimum Hiring Range $49,026 $23.57 Maximum Hiring Range $63,482 $30.52 Maximum Salary $70,408 $33.85 Policy Analyst III Same educational requirements as P.A. II, plus 7 or more years of relevant work experience is required. (NOTE: Masters degree or the equivalent, plus 5 or more years of relevant experience may be substituted). A demonstrated ability to perform the duties of a P.A. II, and also to function with minimum direction is also required, as is the ability to conduct studies of a very complex nature involving numerous interrelated issues. Policy Analyst III Minimum Hiring Range $58,906 $28.32 Maximum Hiring Range $73,320 $35.25 Maximum Salary $84,344 $40.55 7

CONDITIONS AND OPERATIONS 1) New Appointees: Salaries for new appointees shall not exceed the minimums of the Hiring Range without prior and specific approval, for good cause shown, from the Department of Human Resources as the Governor's designee. All requests must include a completed Exempt Salary Approval Form along with copies of the applicant s resume, interviewers comments, and any other information (e.g., reference checks of past employers), which substantiate the salary and position level being requested. No specific salary offer may be extended until the Department of Human Resources as the Governor's designee has approved the request. 2) End of Probation Increase: At the completion of the probationary period (normally, six months), new appointees may receive an increase in base salary of up to 3% for satisfactory performance, and up to an additional 3% merit for performance which exceeds what is normally expected of the position. The Appointing Authority should submit a completed Exempt Salary Approval Form and an evaluation of the individual's performance which supports the request. 3) Merit Pay: Participants may be eligible for a base salary increase of up to 7% for documented commendable performance. Both an Exempt Salary Approval Form and an evaluation of the individual's performance must be submitted by the Appointing Authority to the Department of Human Resources as the Governor's designee for review and approval. Effective dates of any merit pay adjustment will be the first pay period following the Department of Human Resource s approval. Absent extraordinary circumstances, no more than one merit pay increase will be approved within any 12-month period. 4) Economic (Cost of Living) Adjustment: Staff may, for satisfactory performance, receive an increase of up to the cost of living percentage increase approved by the legislature for salary adjustment to exempt employees. When recommended by the Appointing Authority, either an Exempt Salary Approval Form for each participant or a memorandum authorizing cost of living increases for affected participants shall be forwarded to the Department of Human Resources for final review and approval. 5) Promotion: Those incumbents promoted to a higher staff level or position shall be eligible for a base salary increase of between 5% and 8% (based on evaluated performance), but not less than the minimum hiring rate for the new staff level. Promotions and related salary adjustments shall be based on time in service, job responsibilities, merit, and the needs of the Public Service Board. A completed Exempt Salary Approval Form along with written recommendations by the Appointing Authority are required and should be submitted to the Department of Human Resources for final review and approval. 6) Approval Process: No specific salary offers or changes in salary or position level may be extended to the applicant/employee nor become effective unless or until approved by the Board Chair as Appointing Authority and the Department of Human Resources as the 8

Governor's designee. All requests should include a completed Exempt Salary Approval Form, and the appropriate supporting documentation as specified in Sections 1-5 above. All requests for salary and level changes should be submitted in a timely manner to avoid retroactivity. 7) Legislative Reporting: The Department of Human Resources is responsible for reporting any pay actions for which there may be a statutory or administrative requirement to report to any Legislative or Administrative body, and will also forward a copy of the notification to the Public Service Board Chair if the action is approved. 8) Maximum Salary: In no event shall a salary exceed the maximum salary for the applicable position unless otherwise approved by law. 9) Budgetary Constraints: Any and all salary adjustments as set forth in this Plan are subject to the discretion of the Public Service Board Chair and to the budgetary constraints as deemed appropriate by that individual. 10) No Vested Interest: The terms and conditions of this Pay Plan notwithstanding, all participants in this Plan serve exclusively at the pleasure of the Appointing Authority and without vested interest in, nor expectation of, any right to continuation of either position or salary. Promotion, meritorious increases, demotion, reduction in salary, suspension with or without pay, and dismissal shall remain at the pleasure of that Appointing Authority. 9