30 V.S.A. § 212c

(a) The Department shall not enter into a contract or arrangement for retail sales unless approved by the Public Utility Commission under this section. Before the Public Utility Commission approves any retail sale of energy or capacity under this section, it shall conclude that the sale will promote the public good of the State by finding that:

(1) the proposed sale, where appropriate, is reasonably required to meet actual or projected growth in statewide demand, to replace amounts of electricity or capacity sold at retail by the Department on May 28, 1987, or to provide capacity or energy needs arising from a bankruptcy filing by any Vermont electric utility;

(2) the Department's retail rates are just and reasonable, the sale will not result in unjust discrimination in rates, and the sale will result in economic benefits for the State and its residents;

(3) the sale will not adversely affect system stability and reliability, and the sale will be in compliance with the Electric Energy Plan adopted under section 202 of this title, or that there exists good cause to permit the proposed sale; and

(4) the sale is in the best interests of the ratepayers, and that the current and future benefits of the sale outweigh the current and future costs to the State's residents.

(b) The Commission shall make its final determination under this subsection within six months after a filing by the Department. The Department's rate filings and any adjustments or exceptions to them shall be consistent with the procedures set forth in sections 225, 226, 227, 228, and 229 of this chapter, where applicable.