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Maine PUC Adopts Updated Long-Term Contracting Rules
May 26, 2011
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The Maine PUC has amended its rules regarding long-term generation contracting by the utilities to reflect updated legislation.
The rules, provisionally adopted late last year but subject to a legislative review which has now been completed, amend the existing rules to provide that long-term contracts may include RECs, in addition to capacity and energy.
The rules further clarify that payments will be made only after contracted amounts of capacity, related energy, or renewable energy credits have been provided.
The PUC said that it will evaluate RECs in the same manner as energy and capacity, taking into account any differences in market structure that affect the relative risks and benefits of the different products.
The amended rule also states that contracted resources may not exceed the amount necessary to ensure the reliability of the grid or lower customer costs, and that capacity resources contracted for under the rule must be recognized as satisfying regional or federal capacity requirements, unless the Commission determines that the public interest requires otherwise.
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