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Saturday, 20 March 2010 12:29 |
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This week the California Public Utilities Commission (CPUC) announced its tradable renewable energy credits (TRECs) program.
TRECs are intended to help utilities meet the state’s ambitious renewable energy goals. Investor-owned utilities have been mandated to achieve 20% of their sales from renewables by 2010. Utilities may now meet up to a quarter of their procurement needs using TRECs. A $50 price cap was placed on TRECs to protect consumers from higher energy prices. CPUC was authorized to use TRECs by the state legislature in 2006. The TREC program now allows utilities to purchase unbundled contracts for certain transactions, in addition to standard bundled contracts. |
