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This document provides a summary of the Renewable Energy Certificate (REC) procurement process conducted by The Narragansett Electric Company for the years 2022 and 2023. It includes details on the Request for Proposals issued, the bids received, and the analysis of both new and existing renewable RECs. Additionally, it outlines the company\'s requests for confidential treatment of certain information and compliance with regulatory obligations regarding renewable energy sourcing.

How to fill out renewable energy certificate procurement

How to fill out renewable energy certificate procurement

1. Gather necessary information: Understand the requirements for the renewable energy certificate (REC) procurement relevant to your region or organization.
2. Identify eligible renewable energy sources: Verify that the energy sources you plan to use meet the eligibility criteria for RECs.
3. Determine the quantity of RECs needed: Assess your energy consumption or regulatory obligations to determine how many RECs you need to procure.
4. Research REC providers: Look for reliable sellers or brokers of RECs, focusing on their reputation, pricing, and verification processes.
5. Review and negotiate contracts: Carefully read through contracts, ensuring they meet your requirements, and negotiate terms if necessary.
6. Complete the purchase transaction: Finalize the purchase of the required RECs through the chosen provider.
7. Ensure registration and tracking: Ensure that the purchased RECs are registered properly and tracked in the relevant renewable energy tracking system.

Who needs renewable energy certificate procurement?

1. Businesses looking to meet renewable energy goals: Companies aiming to reduce their carbon footprint or enhance their sustainability practices often require RECs.
2. Organizations subject to regulatory mandates: Entities operating in jurisdictions with renewable energy standards or obligations may need to procure RECs to comply.
3. Individuals interested in supporting renewable energy: Consumers who want to contribute to renewable energy growth and claim sustainable energy usage may purchase RECs.
4. Utilities and energy providers: Energy suppliers may procure RECs to meet renewable energy requirements or to offer green energy options to their customers.

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What is renewable energy certificate procurement?

Renewable energy certificate procurement refers to the process of acquiring certificates that represent the environmental benefits of generating renewable energy. These certificates can be traded or sold to meet regulatory requirements or voluntary commitments for renewable energy use.

Who is required to file renewable energy certificate procurement?

Entities such as utilities and other energy suppliers that are mandated by law to meet renewable energy standards or goals are required to file renewable energy certificate procurement.

How to fill out renewable energy certificate procurement?

Filling out renewable energy certificate procurement typically involves completing a designated form that includes details such as the number of certificates being procured, the source of the renewable energy, and compliance information with regulatory standards.

What is the purpose of renewable energy certificate procurement?

The purpose of renewable energy certificate procurement is to facilitate the tracking and verification of renewable energy generation, promote the use of clean energy, and ensure compliance with renewable energy mandates and goals.

What information must be reported on renewable energy certificate procurement?

Reported information usually includes the total number of renewable energy certificates purchased, the types of renewable sources, compliance year, and any relevant transaction details.