Software Enhances Green Power Certificates

An Automated Power Exchange (APX), administrator of the New England Power Pool (NEPOOL) Generation Information System (GIS), rolled out a software upgrade to the system that allows banking of renewable energy certificates.

Santa Clara, California – December 15, 2003 [] The system, which operates under a quarterly trading period schedule, now allows renewable energy certificates to have a usable life beyond the certificate’s quarter of creation. Previously, a certificate had a lifespan of only one quarter. Now, renewable energy certificates can be banked within a calendar year. This new feature enhances the ability of renewable generators to find purchasers for their certificates and gives electric suppliers increased flexibility in the procurement of certificates to meet regulatory requirements or to create differentiated electricity products. “The new banking functionality in the GIS greatly extends the lifespan of renewable energy certificates and will provide significant value to account holders both buying and selling certificates,” said NEPOOL GIS Advisory Committee Chairperson Dennis Duffy. “It will not only serve to enhance the ability of renewable energy generators to capture the environmental value of their power, but it will also facilitate the ability of electric suppliers to meet regulatory requirements in the most efficient manner possible.” Developed and administered by APX, the NEPOOL GIS encompasses Connecticut, Massachusetts, New Hampshire, Rhode Island, Vermont and most of Maine. The system, which began operating in July 2002 helps verify retail electric supply compliance with various green power and environmental regulations. Within the NEPOOL GIS, more than 180 million certificates have been created to date with over 24 million certificates for generation that met one or more state renewable portfolio standard (RPS) requirements. The Web-based system records the production details of all power generated in the NEPOOL control area, including wind, biomass, solar, coal, hydroelectric, natural gas, nuclear and other fuel sources. For each MWh of power, the system creates an electronic certificate, which may be sold or transferred off line. The certificate describes when, where, and by whom the power was produced; the type of fuel source used; renewable portfolio standard eligibility; the amount and type of certain pollutant emissions released, among other characteristics. Santa Clara, California-based APX, which has a five-year contract with NEPOOL, has also developed the Texas Renewable Energy Credit System for the Electric Reliability Council Of Texas (ERCOT).
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