Each electric power supplier in North Carolina must comply with the State’s renewable energy portfolio standard. Some electric power suppliers have organized to comply as a group – such a group is called a “utility aggregator.” Each electric power supplier, or utility aggregator, must produce or purchase a specific number of renewable energy certificates in order to demonstrate compliance. They must retain those certificates in an account in NC-RETS until the certificates and related documentation are audited by the Public Staff and approved by the Commission. Once approved by the Commission for compliance with the State’s annual portfolio standard requirements, specific certificates will be retired, which means they cannot be sold or otherwise re-used. Electric power suppliers can also use energy efficiency and demand-side management programs to comply with the portfolio standard, and NC-RETS issues utilities EE certificates based on savings estimates that are subject to measurement and verification. Electric power suppliers will be billed monthly for the costs of NC-RETS, with each paying a share based on the relative size of their electric sales.
Posted in: About NC-RETS