Renewable Energy Credit Rate
Effective July 2019
RENEWABLE ENERGY CREDIT RATE
The purpose of this rate is to implement a rate for members to purchase Renewable Energy Certificates (RECs) and establish the qualification criteria and rate for the sale of RECs. RECS represent the property rights to the environment, social, and other nonpower qualities of renewable electricity generation (source EPA).
A. Eligibility: All Traverse Electric Cooperative customers are eligible for purchasing RECs.
1. Basin Electric will provide certificate(s), identifying the purchased RECs representing the generation of electrical energy from renewable resources to the nation’s electrical grid from which the customer’s draw their power. Such delivery to the electrical grid shall constitute delivery for the purposes of the RECs.
2. All RECs purchased under this rate shall include the environmental attributes associated with the environmental character of the generation and the Customer shall receive ownership of those attributes.
3. Exhibit 1 must be completed and executed for each REC purchase.
B. Availability: This rate shall be available to each customer until discontinued by Traverse Electric Cooperative.
Participation Level = 100% @ $0.0010 per kWh used
Participation Level = 75% @ $0.0075 per kWh used
Participation Level = 50% @ $0.0005 per kWh used
Participation Level = 25% @ $0.00025 per kWh used
$1.00 per REC and shall represent the equivalent of 1 MWh of green energy attributes.
D. Billing: Customers will be billed monthly based on kWh used.
E. Review: This Rate shall be reviewed at least annually.