The California Public Utilities Commission (CPUC) lifted a suspension of its decision which authorized the use of unbundled tradable renewable energy credits (TRECs) to meet the state's renewable portfolio standard (RPS). The CPUC originally approved the use of TRECs in March 2010, but then suspended that decision in May 2010. With this new ruling, unbundled RECs may be used to meet no more than 25 percent of a utility's annual procurement target. TRECs can be used for RPS compliance until December 31, 2013. The CPUC also placed a temporary $50 per TREC price cap that will expire on December 31, 2013.
News Release - CPUC Approves Use of Tradable Renewable Energy Credits for State's Renewables Program
Additional Information - Decision Resolving Petitions for Modification of Decision 10-03-021 Authorizing Use of Renewable Energy Credits for Compliance with the California Renewables Portfolio Standard and Lifting Stay and Moratorium Imposed by Decision 10-05-018
Contact: Terrie Prosper, 415-703-1366