Plans under way at CL&P to develop energy credit payment program
Plans are under way at CL&P to develop a Zero- and Low-Emission Renewable Energy Credit Payment Program and Connecticut Light & Power is looking for input.
"Long-term contracts for the purchase of renewable energy credits from qualifying renewable generation projects are part of Connecticut's recent Energy Act," said Christie Bradway, manager of renewable power at CL&P. "We want to hear from interested customers as to what they would like to see in the program. So we've put out an RFI -- a request for information."
Customers have until 4 p.m. on Monday, Oct. 17, to provide feedback via email to LREC.ZREC.RFI@nu.com. CL&P will use the feedback in the final development of a solicitation plan, which will be submitted to the Public Utilities Regulatory Authority for review and approval. After PURA's final approval of the solicitation plan, CL&P will issue a request for proposals.
"We call the zero-emission credits ZRECs, and the low-emission credits LRECs," Bradway said.
"Eligible customers would be able to sell their credits to CL&P at a fixed price for a period of 15 years."
The price for each ZREC could be as much as $350 in the first year of the program, and each LREC could be as much as $200 in the first year of the program. Projects that could be eligible must begin operation on or after July 1, 2011. ZREC projects may not be larger than 1,000 kilowatts and LREC projects may not be larger than 2,000 kilowatts.
To learn more about ZRECs, LRECs and the RFI, visit www.cl-p.com and click on "Going Green."