PJM Launches REC-Tracking System
PJM Interconnection has announced that it is
launching an environmental-tracking and emissions-attributes tracking system for
electric generation in its territory. The data in the system will be used to
meet the information disclosure requirements of states’ fuel mix and
emissions-disclosure requirements or renewable portfolio standard (RPS)
requirements.
PJM Environmental Information Services (EIS) held its introductory meeting for
subscribers to its Generation Attributes Tracking System (GATS) on in April
2005. The GATS tracks generation attributes (often referred to as
"renewable-energy credits," or "RECs") and the ownership of
the attributes as they are traded or used to meet government standards. It
creates generator-specific electronic certificates that identify the generation
attributes necessary for electricity suppliers to satisfy state policies and to
document green power. Data in the GATS include megawatt-hours produced,
emissions data, fuel source, location, state program qualification and ownership
of attributes for each megawatt-hour tracked. There is one certificate with a
unique serial number identifying the attributes of the generation for each
megawatt-hour produced.
The functional design of the GATS was developed through collaboration with state
utility regulators, state environmental protection offices, state energy
offices, consumer advocates, electric market participants, environmental
advocates and other stakeholders.
"New Jerseyans are serious about the environment, and they want clean
energy," said Jeanne M. Fox, president of the New Jersey Board of Public
Utilities, one of the agencies participating in GATS development. "GATS
gives us, as regulators, the effective measure we need to ensure compliance with
New Jersey’s renewable portfolio standards."
"It’s exciting to bring this tool to state agencies and electricity
producers and suppliers," said Kenneth W. Laughlin, president and chief
executive officer of PJM EIS. "For generators GATS provides a means to sell
or transfer generation attributes to buyers. For states it provides a means to
implement environmental and renewable energy policies and regulations. For load
serving entities the system is an effective, efficient means to comply with
disclosure and portfolio standards."
Participation in the GATS is by paid subscription. At the initial GATS
subscriber group meeting, PJM EIS will review the GATS implementation schedule,
the subscription agreement, fee structure and operating rules. The GATS is
expected to be operational in the third quarter of this year, according to PJM,
and will be available in the area served by the PJM (but initially will be used
in New Jersey and Maryland).
(Source: PJM news release, 4/15/05)