Connecticut Light and Power (CL&P) is seeking input on its proposed zero- and low-emission renewable energy credit (REC) payment program.
‘Long-term contracts for the purchase of renewable energy credits from qualifying renewable generation projects are part of Connecticut's recent Energy Act,’ says Christie Bradway, manager of renewable power at CL&P. ‘We want to hear from interested customers as to what they would like to see in the program.’
Customers have until 4 p.m. on Oct. 17 to provide feedback via email to LREC.ZREC.RFI@nu.com. CL&P will utilize the feedback in the final development of a solicitation plan, which will be submitted to the Public Utilities Regulatory Authority (PURA) for review and approval. After PURA's final approval of the solicitation plan, CL&P will issue a request for proposals.
‘Eligible customers would be able to sell their credits to CL&P at a fixed price for a period of 15 years,’ Bradway notes.
The price for each zero-emission REC (ZREC) could be as much as $350 in the first year of the program, and the price for each low-emission REC (LREC) could be as much as $200 in the first year of the program. Projects that could be eligible must begin operation on or after July 1, 2011. ZREC projects may not be larger than 1 MW, and LREC projects may not be larger than 2 MW.