2017 Compliance Year
This page includes information on the first compliance year under the Clean Energy Standard (CES): 2017. It also includes REC and ZEC activities that affected and will affect LSEs before, during, and after the 2017 compliance year, which differs for RECs and ZECs.
Renewable Energy Standard 2017 Compliance
RES 2017 Compliance Year Resources
Tier 1 REC Sale Price: $21.16/MWh
ACP Price: $23.28/MWh
The Renewable Energy Standard (RES) 2017 Compliance Year began on January 1, 2017 and ends on December 31, 2017. NYSERDA offered 56,142 Tier 1 RECs for sale in the 2017 compliance year for $21.16 per megawatt-hour.
If an LSE is unable to generate or purchase 2017 Tier 1 RECs, LSEs can fulfill their 2017 RES compliance by making an alternative compliance payment (ACP) to NYSERDA.
The 2017 ACP costs $23.28 for each megawatt-hour of renewable energy an LSE is unable to generate or purchase through 2017 Tier 1 RECs. LSEs will have the option of making ACPs after NYSERDA and the LSEs have reconciled the REC obligations in 2018.
LSEs may be able to purchase 2017 Tier 1 RECs during the first quarter of the 2018 compliance year if unpurchased 2017 Tier 1 RECs are available. Please note that 2018 Tier 1 RECs cannot be used for 2017 compliance year.
More details on RECs and ACPs are available in NYSERDA's November 1, 2016 compliance filing [PDF].
ZEC 2017 Compliance
ZEC 2017 Compliance Year Resources
ZEC Sale Price: $17.5394/MWh
The Zero-emission Credit (ZEC) 2017 compliance year began on April 1, 2017 and ends on March 31, 2018. 2017 compliance year ZECs cost $17.5394 per megawatt-hour and a maximum of 27,618,000 purchased by NYSERDA and allocated to the LSEs. After the ZEC 2017 compliance year ends, NYSERDA and the LSEs will reconcile ZEC obligations to include the number of ZECs purchased by NYSERDA and the LSE’s load share.
Timeline: 2017 Compliance Year Milestones
Preparation for the 2017 compliance year began in late 2016 and continues through 2018. Noted milestones are below. Later compliance years and processes will differ.
August 1, 2016
The Clean Energy Standard established.
November 16, 2016
New York State Public Service Commission approves the terms and conditions of Tier 1 RECs and ZECs in two orders.
December 1, 2016
Period for purchasing Tier 1 RECs from NYSERDA ends.
December 7, 2016
NYSERDA contacts LSEs directly to inform them of their ZEC obligations, the 2017 ZEC compliance price, individual IDs, and how to accept terms and conditions.
December 8, 2016
NYSERDA confirms REC quantity and payment schedule in accordance with the terms and conditions for LSEs who chose to purchase Tier 1 RECs from NYSERDA.
December 19, 2016
Due date for LSE acceptance of ZEC terms and conditions. NYSERDA also provided a payment schedule later that month.
January 1, 2017
RES 2017 Compliance Year begins.
April 1, 2017
ZEC 2017 Compliance Year begins.
May to December 2017
NYSERDA provides program updates and information about CES obligations to LSEs.
December 31, 2017
RES 2017 Compliance Year ends.
January 1, 2018
Start of RES 2018 compliance year.
March 31, 2018
ZEC 2017 compliance year ends.
All 2017 LSE load data will have been uploaded to NYGATS from the New York Independent Systems Operator (NYISO). LSEs will review their load and their obligations for the RES 2017 Compliance Year.
May to June 2018
LSE will finalize Tier 1 REC transactions for the RES 2017 Compliance Year to satisfy their compliance obligation.
Before June 30, 2018
2017 Tier 1 RECs must be deposited into LSE’s NYGATS “2017 Vintage EDP Subaccount."
June 30, 2018
2017 trading period for all RECs (NYSERDA Tier 1 and others) closes in NYGATS, after this date LSEs will no longer be able to allocate RECs in NYGATS.
July to August 2018
NYSERDA and LSEs reconcile Tier 1 REC obligations. LSEs make necessary ACPs.
LSE load data, through March 2018, will have been uploaded to NYGATS from the NYISO. LSEs will review their load and their obligations for the ZEC 2017 compliance year.
September to October 2018
NYSERDA and LSEs reconcile ZEC obligations and ZEC purchases.
LSEs submit CES compliance report to NYSERDA.