Connecticut Light & Power (CL&P) and The United Illuminating Co. (UI) have filed with the Connecticut Public Utilities Regulatory Authority (PURA) a joint plan for the purchase of zero- and low-emission renewable energy credits (RECs).
Under the new program, qualified bidders would be able to sell RECs from zero-emission renewables (ZRECs) or low-emission renewables (LRECs) to CL&P and UI for 15-year periods.
To be eligible, projects must meet the criteria established in Public Act 11-80. Some of these key requirements are that projects must have begun operation after July 1, 2011, must be located behind customers' electric meters, and must be less than 1 MW for ZRECs and 2 MW for LRECs.
The companies have designed a joint program and filed a joint plan with the PURA. However, each company will accept bids only for projects located in its service territory.