Each NC-RETS account holder will be able to organize its Certificates into different types of subaccounts to allow users to perform a number of specific functions.
NC-RETS will assign three default subaccount types for all Account types:
- Active Subaccount
- Retirement Subaccount
- Bulletin Board Subaccount
North Carolina Electric Power Suppliers can create Compliance Subaccounts for each year. See the NC-RETS Compliance Reporting Guide for more details on how to comply with the North Carolina Renewable Energy Portfolio Standard.
The Active Subaccount is the holding place for all active Certificates that originate from renewable generation reported and or imported into North Carolina. NC-RETS Active subaccounts also hold all active Energy Efficiency program certificates. Certificates in an Active Subaccount can be transferred at the discretion of the Account Holder.
The Active Subaccount is the first point of deposit for any Certificates resulting from generation reported by the Qualified reporting Entity and certificates resulting from generation reported through the Self-Reporting Interface. The Active Subaccount may be associated with one or more generating unit projects.
There are three ways to withdraw or remove Certificates from the Active Subaccount:
- Certificates transferred to another Account Holder’s Active Subaccount subject to both Account Holders agreeing to the transfer.
- Certificates transferred to the Account Holder’s own Retirement Subaccount
- Certificates transferred to the Account Holder’s own Compliance Subaccount
The Retirement Subaccount is used for voluntary retirement activity not associated with NC REPS compliance retirements. When a Certificate is transferred into a Retirement Subaccount, the Account Holder must specify the purpose for the Certificate retirement. Certificates retired into the Retirement Subaccount and subject to a Voluntary Retirement Fee: NC-RETS Fee Schedule
The Bulletin Board Subaccount is where Account Holders may post Certificates available for purchase. The Bulletin Board can be viewed by all Account Holders from the list of public reports. Account Holders can contact the seller directly using the contact information supplied with each post.
Certificates can be posted to the Bulletin Board by transferring the certificates from an Active Subaccount into the Account Holder’s Bulletin Board Subaccount. Certificates can be removed from the Bulletin Board by transferring the certificates back to the Active Subaccount.
The North Carolina Electric Power Suppliers can transfer Certificates from their Active Subaccount to their compliance Subaccount for purposes of meeting their annual requirements.
A Compliance Sub-account will only be available to North Carolina Electric Power Suppliers and Utility Compliance Aggregators. These entities can have one Compliance Sub-account per compliance year and an unlimited number of municipal utility / electric membership corporation type of Compliance Sub-accounts per year. For example, for 2018, an Electric Power Supplier can have one Compliance Sub-account for itself (as an electric public utility) and one or more for each municipality/coop or group of such electric power suppliers for which it provides compliance reporting. Each Compliance Subaccount will be subject to the statutory requirements for either:
1) an electric public utility, or
2) a municipal utility/electric membership corporation (cooperative).
Certificates in a Compliance Sub-account will be in a “pending retirement status” while the State Program Auditor/Regulator accesses it via a compliance report for audit. When that review and the related regulatory proceeding are complete, the Commission will use NC-RETS to finalize Retirement of the Certificates into a permanent Retirement status. State Program Auditors will see the related Compliance Report from their own Accounts.