Current through Register Vol. 56, No. 18, September 16, 2024
(a) The Transition Incentive Program shall be
comprised of TRECs that are created by PJM-EIS on the Generation Attribute
Tracking System (GATS) for each megawatt-hour generated and metered by eligible
solar projects.
(b) TRECs shall be
jointly procured by the EDCs to satisfy compliance obligations pursuant to the
Transition Incentive Renewable Portfolio Standards (TI-RPS) at (c) below. The
EDCs shall work with Board staff to jointly procure a TREC Administrator, who
will be responsible for administering the procurement, allocation, and
coordinating retirement of TRECs
(c) The TI-RPS is a carve-out of the Class I
RPS requirement. Each TREC shall be allocated to, and retired on behalf of, New
Jersey's TPS/BGS providers based on their respective market share of retail
sales. Each TREC retired shall reduce the Class I requirement by one REC as set
forth at N.J.A. C. 14:8-2.3(d) and (r).
(d) Irrevocable Standing Orders shall be
treated as follows.
1. An Irrevocable Standing
Order, defined in the GATS Operating Rule as "A reoccurring automatic transfer
of certificates for a given generating unit from the account holder's active
subaccount to the active subaccount held by different account holders," shall
be created in GATS for each TREC eligible project. The Irrevocable Standing
Order will cause the automatic transfer of TRECs created by an eligible solar
project to the EDC Joint GATS Account.
i. The
Irrevocable Standing Order shall require for that Generator that 100 percent of
the certificates be automatically transferred from each meter reading to the
EDC Joint GATS Account.
ii. A
Standing Order is not activated until the transferor confirms, and the TREC
administrator accepts, the Standing Order transfer.
2. Solar aggregators, brokers, and installers
acting on behalf of solar project owners may perform the role of transferor,
register as the project owner and create an Irrevocable Standing Order for each
eligible project for which it is reporting generation into GATS.
3. The TREC Administrator will confirm that:
i. Each account holder has created the
Irrevocable Standing Order;
ii.
Each Irrevocable Standing Order is complete, identifies the transferor, and
represents 100 percent of all TRECS for that generator;
iii. The solar aggregator, broker, installer,
or other account holder has the authority to create the Irrevocable Standing
Order; and
iv. The automatic
transfer of TRECs has occurred.
4. Irrevocable Standing Orders authorizing
transfers can only be terminated with the assent of both parties.
