California PUC Approves Use of RECs for RPS
The CPUC decision initially limits the use of TRECs to no more than 25 percent of each utility's annual renewable energy obligation. A price ceiling was also set at $50 per TREC, or $50/MWh. Both the usage cap and the price ceiling sunset at the end of 2011 unless the CPUC takes action to retain or modify the provisions. In order to use RECs, participants must meet the requirements set forth by the CPUC for REC trading, as well the requirements of the Western Renewable Generation Information System (WREGIS), the system through which all California RPS-eligible RECs must be tracked. TRECs may be traded for up to three years from their date of creation before they must be committed to use for RPS compliance.
News Release - CPUC Approves Tradable Renewable Energy Credits for use in Renewable Energy Program
Contact: Terrie Prosper, 415-703-1366