Oregon legislators passed Senate Bill (SB) 1547 into law yesterday, creating aggressive timetables for eliminating coal-fired electricity from the State and setting a 50% Renewable Portfolio Standard (RPS) by 2040. A diverse group of utilities, consumer advocacy organizations, and renewable energy advocates support the bill. Next stop for SB 1547 is Oregon Governor Katherine Brown’s … Continue Reading
If you are drafting a liquidated damages clause that applies Texas law, a decision today by the Supreme Court of Texas might encourage you to hire an oracle. Because if you negotiate a liquidated damages provision in a "second-look" state without using the power of divination, you may be surprised when a once-reasonable estimate of damages becomes unenforceable because of subsequent changes in the market.… Continue Reading
Seattle City Light recently issued a request for proposals f(RFP) or up to 150,000 megawatt-hours of renewable energy or renewable energy credits per year, starting in 2020. The projects that generate the RECs or energy must qualify as eligible according to Washington State’s renewable portfolio standard. In addition, City Light will require a minimum output guarantee and credit … Continue Reading
On July 23, New Jersey Governor Chris Christie signed into law a bill which amends the state’s solar energy incentive program in an effort to increase the demand for solar renewable energy credits (SRECs), stabilize the market for SRECs, which has seen a substantial decline in price over the last year, and support the development … Continue Reading
Last year, we reported on the resolution of a longstanding dispute between Xcel Energy and 46 renewable energy generators about the ownership of Renewable Energy Credits (RECs) when the Power Purchase Agreement (PPA) is silent. In an Order released September 9, 2010, the Minnesota Public Utilities Commission decided that 1) generators own the RECs produced under … Continue Reading
On Thursday March 11, 2010, the California Public Utility Commission (the "CPUC") created a market for tradable renewable energy credits ("TRECs") in the state. That’s big news. In its 149-page decision, the CPUC stated that investor-owned utilities ("IOUs"), energy service providers, and community choice aggregators may now use TRECs to comply with California’s ambitious renewable … Continue Reading
The California Public Utilities Commission ("CPUC") issued a proposed decision on December 23, 2009 that would, if adopted, allow California investor-owned utilities, energy service providers, and community choice aggregators to purchase renewable energy credits alone, without the associated energy (sometimes referred to as "unbundled renewable energy credits ("RECs)" or "tradable RECs"), to satisfy their obligations … Continue Reading
The following RFPs for renewable energy and RECs came to my attention today. 1. Dayton Power and Light Company is seeking to acquire up to 313,000,000 kWh of eligible RECs by 2013 in order to meet Ohio’s RPS requirements. Deadline for submissions is August 7, 2009. Click here for more information. 2. The Western Area Power … Continue Reading
The California Public Utility Commission issued a draft decision on October 29th authorizing the use of unbundled and tradable renewable energy certificates (“RECs” or “TRECs”) for compliance with California’s RPS. … Continue Reading
