Moderator, "New CPUC Ruling on TREC Transactions," Law Seminars International, Telebriefing
Steve Greenwald moderated this one-hour teleBriefing on Feb. 1, 2011. A distinguished panel of energy experts addressed the TREC Decision and its implications. The telebriefing provided a timely analysis of the tough issues surrounding the decision's implementation.
On Jan. 14, 2011, the California Public Utilities Commission (CPUC) issued a long-awaited decision authorizing California investor-owned and other load serving utilities to satisfy a portion of their respective obligations under the California Renewables Portfolio Standard (RPS) by procuring Tradable Renewable Energy Credits (TRECs). The issuance of the decision authorizing the use of TRECs culminates an over four-year saga of efforts by both the CPUC and the California Legislature to implement a TREC program.
What was covered in the telebriefing:
- How the TREC Decision authorizes and also limits the use of TRECs
- How the TREC Decision will enable out-of-state RPS power to participate in the California RPS program
- Distinctions the TREC Decision draws between "bundled" RPS power which the utilities can purchase with no limit and TRECs which are subject to a 30% cap
- Steps the CPUC and CEC must take to implement the TREC Decision in the manner intended
- How the TREC Decision will affect electricity markets in the Western United States
- Potential further changes to the TREC program
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