Load Serving Entities (“LSEs”) in New Jersey are responsible for meeting TREC obligations; however, LSEs (including BGS suppliers) are not responsible for purchasing TRECs to satisfy TREC obligations. In its December 6, 2019 Order, the New Jersey Board of Public Utilities (“Board”) directed the EDCs to work with Board Staff to jointly procure a TREC Administrator. The Board further ordered the EDCs’ TREC Administrator to use the GATS system to purchase all TRECs produced each year by eligible projects and then to allocate TRECs to Load Serving Entities (“LSEs”) based on market share of retail sales for retirement within the GATS system as part of the annual RPS compliance process.
The Transition Incentive Renewable Portfolio Standards (“TI-RPS”) is a separate obligation from the solar RPS obligations under New Jersey’s RPS and does not affect BGS Suppliers’ solar RPS obligations.
Additional information on New Jersey’s Transition Incentive Program can be found here.
8/12/2021, in Data.