North Carolina Electric Power Suppliers use NC-RETS to retire certificates into Compliance Subaccounts for their NC REPS requirements.
Electric Power Suppliers and Utility Compliance Aggregators will make transfers
to the Compliance Sub-account to mirror and support their annual Portfolio
Standard compliance filing to the Commission. Certificates in this Sub-account will
remain in Active status until the Compliance Sub-account has been reviewed and
approved by the Commission. Once approved, the Certificates will be retired. The
Public Staff and the Commission will have access to the Sub-account details.
The process will work as follows:
- Electric Power Suppliers will establish a Compliance Subaccount for a
compliance year using the “Create New Sub-Account” link. Reference Section 2.6
for more details about how Compliance Sub-accounts function. The Electric Power
Supplier or Utility Compliance Aggregator will select the relevant compliance year
and compliance type (electric public utility or municipality/electric membership
corporation) to determine the mandates they have to meet via the given
Compliance Subaccount. Utility Compliance Aggregators will need to specify the
specific Electric Power Suppliers for which they are reporting, along with the prior
year retail sales for each of those Electric Power Suppliers. Utility Compliance
Aggregators have the option to create a Compliance Subaccount for each
municipality or electric membership corporation separately if they so choose. Or,
several Electric Power Suppliers (municipality/electric membership corporations
only) can be grouped together for purposes of a Compliance Sub-account.
- Electric Power Suppliers or Utility Compliance Aggregators can then proceed to
transfer Certificates to the Compliance Sub-account(s).
- From a Compliance Subaccount the Account Holder can access a Compliance Report that displays the quantity achieved and quantity still needed for specific
mandates such as solar power, swine waste, and poultry waste, as well as the
overall Portfolio Standard mandate, using the mandate requirement reflected in
the statute for electric public utilities or municipal utilities/electric membership
corporations. The report will also display the proportion of the Certificates that are
in-state (including out-of-state RECs bundled with power delivered to NC) and how
many are unbundled out-of-state Certificates.
- When the Account Holder has finished their transfers for the compliance year,
they will ‘submit’ the Compliance Sub-account for Commission review. This will
lock the Certificates in place allowing for the Public Staff and Commission to
perform their reviews. No changes to this Subaccount can be made by the
Account Holder during this time.
- The Commission will receive an automatic notification that a report has been
submitted for their review. After their review, the Commission can select to either
‘approve’ or ‘reject’ the Compliance Sub-account. Approval will result in the
Certificates being retired permanently in the Compliance Subaccount associated
with the given compliance year. Rejection will reopen the Compliance Sub-account
to allow the Account Holder to amend the Compliance Sub-account with the
required Certificates after which they can re-submit the Sub-account for
Commission review. Status of the Compliance Sub-account can be accessed via
the Compliance Reports available to the Account Holder, the Public Staff and the