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REC Agenda

REC Agenda. VGS Update. Introduction. VER penetration Key drivers behind VER investments REC and other factors Definition of RECs REC program by WECC states Summary table. REC Policies. Overview of REC policies by states Programs Instruments Targets Specific baseline

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REC Agenda

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  1. REC Agenda VGS Update

  2. Introduction • VER penetration • Key drivers behind VER investments • REC and other factors • Definition of RECs • REC program by WECC states • Summary table

  3. REC Policies • Overview of REC policies by states • Programs • Instruments • Targets • Specific baseline • REC attributes and geographical limits • REC Accounting • REC and treatment of GHG allowances

  4. REC Institutional Settings • State by state REC regulatory regimes • Approval authority • Monitoring & Reporting • Penalties • Intra state commerce • Voluntary Market regulations • Trading facilitators eg brokers, exchanges etc.

  5. REC Trading Framework • REC economics • REC attributes • Valuation • WREGIS • REC value chain • REC flow diagram • Supply-Demand dynamics

  6. REC Trading Impact • Voluntary Trading • Compliance Trading • Impacts on: • Investments • Operations • Reliability • And others ?? • Risks associated with REC deals • Balance between political and economic goals in devising REC policies

  7. REC market maturity and robustness • Specific discussion on liquid REC markets • Price behaviour and its impact on VERs (en, cap, as) • New products and markets? – SRECs etc. • VER investment economics • Cost of integration • BE impact • New VER sources • Review of Federal policies and subsidies • Further penetration of VER and acceptence • Additional state introducing RPS program • Social and political landscape – jobs

  8. REC and GHG programs • Objective of both programs • Identify grey areas • State by state recognition of REC attributes and validity in the GHG program • REC and GHG accounting

  9. Updates on RPS/REC regulations • List by state ongoing legislative, policy, and regulatory changes • Summarize the impact of these changes on existing programs • Also, briefly describe how these changes will impact VER penetration • Capture federal initiatives

  10. Recommendations to the JI Committee • Executive summary of REC programs by states • Implications of strong REC programs and VER investments • Identify key implications of robust REC programs on VER penetrations • Specify impact on grid operations, prices, products, regulations, and reliability • Updates on ongoing changes to RPS/REC regulations • Others xxxx.

  11. OtherIdeas and Topics

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