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FAQ-29

Under the change proposed by the EDCs, when would the BGS Supplier be required to transfer RECs? 



The EDCs have proposed that BGS Suppliers would either:  (i) provide RECs and SRECs to the EDCs after each of the first three quarters of the Energy Year; or (ii) post collateral for the value associated with such RECs and SRECs.  Starting on September 10, 2020, and on the tenth (10th) Business Day of each December, March, and September thereafter during the term of this Agreement, the EDC would provide to the BGS Supplier a statement with an estimate of the BGS Supplier’s obligations under the Renewable Portfolio Standards for the previous three (3) months.  By the last business Day of the month following the month during which the statement is received, the BGS Supplier would then either transfer the RECs or SRECs or post collateral for the value of the RECs and SRECs.  The Board is expected to render a decision on the EDCs’ initial proposal (filed on July 1, 2019) as well as the supplemental proposal prior to the due date for the Part 1 Applications.   



11/4/2019, in General.

FAQ-24

Will the proposed BGS process be amended given the postponement of PJM’s BRA?



The EDCs are aware of the FERC Order issued on July 25, 2019 pertaining to the postponement of the Base Residual Auction planned for August 2019.  The EDCs are continuing to monitor the activity and filings at the FERC and PJM concerning potential changes to the PJM capacity market.  As events unfold and the impact of any subsequent and related FERC or PJM actions on the 2020 BGS Auctions can be assessed, the EDCs will consider and may propose subsequent enhancements to the BGS process to the New Jersey Board of Public Utilities as appropriate.



8/13/2019, in General.

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