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Home > News > Law & Government > Commission taking comments on Idaho Power renewable-energy credit plan
Commission taking comments on Idaho Power renewable-energy credit plan
by IBR Staff
Published: April 30,2010
Time posted: 10:54 am
Tags: energy, green, Idaho Power, Idaho Public Utilities Commission
Idaho Power Co. proposes a plan to sell the renewable energy credits it earns for its renewable power to other power providers and share the proceeds with customers.
The plan also gives Idaho Power long-term contractual rights to the credits, sometimes called “green tags,” if a federal renewable energy standard is imposed on utilities, according to the Idaho Public Utilities Commission, which will take comments through May 14.
The commission last year directed Idaho Power to sell its 2007 and 2008 renewable energy credits and use the $1.6 million to $1.9 million in proceeds to benefit ratepayers. It also directed the company to file a business plan on how it intends to treat credits sold in 2009 and beyond.
A renewable energy credit is issued to each utility for every megawatt-hour of electricity generated by an eligible renewable energy resource. The credits represent a currency that can be traded on an active market to entities wishing to support renewable energy. The Idaho Public Utilities Commission said in a release that the credits are becoming more valuable as a growing number of states require their regulated utilities to buy or generate a certain amount of power from renewable sources.
Idaho Power’s 101-megawatt Elkhorn Wind project in Oregon and its 13-megawatt Raft River geothermal project in south central Idaho generated more than 320,000 megawatt hours of renewable energy credits for Idaho Power in 2007 and 2008.
The commission in January 2009 granted an Idaho Power request to retire, rather than sell, its renewable energy credits in anticipation of federal or state renewable mandates.
By retiring the credits, Idaho Power said it could represent to renewable energy certification programs and to customers that it is meeting customer expectations for increased use of renewable energy, the commission said in the recent release. But the Industrial Customers of Idaho Power petitioned the commission for reconsideration, arguing the value associated with the credits belongs to the ratepayers and should be sold to benefit them. The Idaho Conservation League and the Renewable Northwest Project argued that the commission should affirm its original decision to let the utility retire the credits.
The commission reversed its earlier order and directed the company to sell the credits. But the order also required the company to submit a business plan on how it intends to treat renewable energy credit sales in 2009 and beyond.
In the plan, Idaho Power states there is a “reasonable likelihood” that a federal renewable standard will be passed by Congress that will require the company to obtain and retire credits for compliance, the commission said, noting that Idaho Power believes it is also prudent to continue acquiring ownership of renewable energy credits to minimize the impact if a federal standard is implemented. “However, because of current economic conditions and recent increases in costs and customer rates, the basic philosophy of Idaho Power’s REC Management Plan is to sell its RECs in the near-term,” and apply it against the annual Power Cost Adjustment surcharge that customers pay, the commission release said, citing the plan text. While selling the credits in the short term, the company proposes to acquire long-term contractual rights to own renewable energy credits for meeting future federal requirements, the commission said.
Comments on the case, No. IPC-E-08-24, are accepted by mail to P.O. Box 83720, Boise, Idaho 83720-0074, by fax to (208) 334-3762 or on the commission’s Web site.
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October 20th, 2010 at 4:04 am
Thanks both of you!
It is true that we now have the technology to harness all of the world’s energy using these renewable sources. But only a small fraction of the world’s total energy is being produced this way.
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