Monday, June 28, 2021
At the June 17, 2021 Open Meeting, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued a policy statement and an order reflecting its continued support for transmission project development and transmission investment to achieve federal and state renewable resource policy goals.
I. FERC Policy Statement on Voluntary Agreements
FERC’s
policy statement seeks to eliminate potential barriers to voluntary agreements providing for the construction of transmission facilities, including voluntary agreements involving one or more states (“Voluntary Agreement”) (“Policy Statement”).
[1] The Policy Statement also identifies voluntary agreements between two or more transmission owners as being “within scope” although it largely focuses on transmission investment to support state initiatives. The Policy Statement emphasized that “Voluntary Agreements are not categorically precluded” by eith
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M-RETS DEVELOPS FIRST HOURLY RENEWABLE ENERGY CERTIFICATE RETIREMENT
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[co-author: Orethu Manu]
M-RETS Develops First Hourly Renewable Energy Certificate Retirement
On March 1st, M-RETS announced that it had completed the first-ever hourly Renewable Energy Certificate (REC) retirement. The hourly REC retirement system ensures that each hour of a user’s operation is matched to actual renewable energy produced at the same time. In the current dominant practice, renewable energy purchasers receive RECs issued monthly and match them to load over one year or longer. In the hourly REC retirement system, by contrast, renewable energy purchasers can match RECs to energy usage over more precise intervals by making use of hourly energy usage data.
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