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October 12th, 2012

Connecticut Low and Zero Emission Renewable Energy Credits

by Andrew Price, President & COO

The compliance markets for Renewable Energy Credits (RECs) changes rapidly in New England. The introduction of two new classes of RECs in Connecticut is one recent example. The Connecticut Light and Power Company (CL&P) filed results yesterday of its inaugural procurement of Class I RECs from low and zero emission sources (LRECs and ZRECs). Weighted average prices of accepted bids ranged from $60 per MWh for LRECs and $100 to $150 per MWh for ZRECs. At these prices, consumers in Connecticut should consider participating in the next competitive RFP, due out in April 2013. The balance of this blog is a somewhat dense and technical review of the CL&P RFP results; readers looking for lighter fare, consider yourselves forewarned.

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