Maine PUC Approves Supplier, Pricing for REC Add-On Product For Standard Offer Customers

The Maine PUC selected 3Degrees, Inc to supply and manage, for a five-year term beginning April 1, 2016, the Maine Green Power program, which is a REC add-on product offered to all distribution customers, including default service and competitive supply customers.

REC pricing under the new term, with the new pricing not taking effect until July 1, 2016, will be as follows:

Residential

• 1 Block (500 kWh): $8.95 per Block ($0.0179/kWh)

• ½ Block (250 kWh): $4.95 per ½ Block ($0.0198/kWh)

Commercial

1 Block (500 kWh) < 5 MWh per month purchase: $8.95 per Block ($0.0179/kWh)

1 Block (500 kWh) > 5 MWh per month purchase: $6.45 per Block ($0.0129/kWh)

Under 3Degrees' five-year proposal adopted by the PUC, if the procurement cost of Maine-based RECs exceeds $6.50 per REC on average, 3Degrees may source RECs from outside Maine, including initially from ISO-NE, and, if NEPOOL RECs exceed certain cost thresholds, from PJM

The PUC said that some 2,000 customers currently take service under the Maine Green Power program