A computer system has been selected that will administer the renewable energy trading program for emission credits in the state of Texas.
AUSTIN, Texas – The Electric Reliability Council of Texas (ERCOT) has selected Automated Power Exchange Inc. (APX) as the information technology supplier for the Texas Renewable Energy Credit (REC) Trading Program. APX will provide the computer system that ERCOT will use to administer program accounting functions and to allow trading of the credits by renewable power generators among energy retailers and other REC participants. “The REC system is intended to most efficiently meet the regulatory compliance and market incentive requirements for this program established by the Public Utility Commission of Texas,” says ERCOT’s Tom Noel. “In making this selection, we thoroughly reviewed vendor proposals received and concluded that APX presented the best offering to meet our needs.” The Texas REC program aims to increase the installation of renewable energy technologies by an additional 2,000 megawatts by 2009. Each megawatt hour of certified renewable power generated equals one credit, which represents the extra value of that energy over that of non-renewable power. The use of credits allows trading of a verified megawatt hour of renewable energy among generators, competitive retailers, or other REC participants. The APX system will allow qualified members of the Texas wholesale power market to register for the REC Trading Program on the Internet, and is comparable to an online financial banking service. Through this portal, generators will record transfers of their credits, and retailers will record the credits they need to match consumption. The availability of account statements and other information online will save participants time in record keeping and compliance report preparation. APX will deliver an operational prototype system by April for use in ERCOT’s mock market trails, and the system will be fully deployed by June of next year, to coincide with the start of the Texas Choice Pilot. The company has been involved in renewable energy credit services in other regions of the U.S. for three years. “APX is pleased to have been selected by ERCOT to provide this system for the Renewable Energy Credit Trading Program,” says CEO Rich Amen. “We will leverage our experience in providing similar solutions in other markets.” ERCOT is one of ten regional reliability councils in North America, and oversees the operation of 65,000 MW of generation and 37,000 miles of transmission lines in Texas. APX provides core scheduling technologies to support power system administration and operates Internet-based clearinghouses for the buying and selling of renewable power and other electricity services. The privately held company is based in Santa Clara, California.