As defined in an email communication sent to the designated contact for your LSE, if the aggregate quantity of Tier 1 RECs requested by LSEs exceeds the quantity available, each LSE who submits an order for Tier 1 RECs will be allowed a quantity up to a minimum quantity, calculated as the Total Tier 1 RECs Anticipated to be Offered for Sale multiplied by the LSEs Percentage of Statewide Electric Energy Load. The remaining Tier 1 RECs available will be allocated proportionately based on the excess quantity of Tier 1 RECs ordered by each LSE over the minimum quantity.
You must sign and submit this document on or before December 1, 2016.
Once you submit a Tier 1 REC Quantity request, you may not revise your quantity.
In an Order dated November 17, 2016, the Public Service Commission approved the Agreement for the Sale of Renewable Energy Certificates standard form, available here for REC transactions with all LSEs. The Commission’s Order also directed all LSEs to execute the terms and conditions by December 19, 2016.
NYSERDA will notify you after December 1, 2016 of your organization’s final Tier 1 REC Purchase Quantity, and provide you a payment schedule.