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Published byAgnes Sanders Modified over 8 years ago
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Synergies between Renewable Energy, Energy Efficiency, and Emissions Offsets National Trading Program International Trading Platform Enron is well situated to become the leader in comprehensive attribute offerings Green Products: Renewable Energy + Emissions Credits/Offsets+Energy Efficiency Savings + Financial Packages Pioneering New Attribute Markets Regulatory Issues Framework for “currency” Verification Preventing Double Counting Stripping off Attributes Consistent Generation Information Recognition of energy efficiency as tradable commodity Property Rights Imports/Exports Regulatory Solutions Promoting regional and national attribute registries Encouraging creative demand side solutions Streamlining regulations & reporting standards Placeholders for future market opportunities © 2000 SB-REP-1000
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Renewable Demand Federal Executive Orders –Greening the Government Goal: 2.5% of facilities electric consumption supplied w/ new renewable resources (1,355 GWh) –Energy Efficiency: 35% decrease in energy usage from 1998 levels by 2010 State and City Purchase Orders LA City Gov’t Purchases : 10% starting July ’01 City of Chicago: 20% w/in 5 years New York State Gov’t Facilities: 20% by 2010 Maryland State Gov’t Facilities: 6% Federal Tax Credits and Incentive Monies Customer Demand (2-4%) Examples of Green RFPs –City of Chicago (80 MW) –State of New Jersey (123,000 MW) –State of Pennsylvania (5% of Department of General Services purchase) –BPA (1,000 MW) Utility Green Pricing –80 programs (73 MW - 120 MW planned) Corporate commitment (11 Companies to purchase 1000 MW)
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NV: 1% by 2009 (50% solar) AZ: 1.1% by 2007 (60% solar) NM: 5% of Standard Offer TX: 2.2% by 2009 (2000MW) PA: 2% default provider NJ: 6.5% by 2012 CT: 7% by 2009 MA: 4% new by 2009 (1% each year thereafter ME: 30% by 2000 (requirement per year) Total: 3,800 MW by 2010 12 Incentive Funds* (1.7 billion through 2010) *in conjunction w/ restructuring Renewable Regulatory Demand Renewable Portfolio Standards Systems Benefit Funds © 2000 SB-REP-1000
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Environmental Legislative and Regulatory Hurdles CURRENT STATUS: Multiple state approaches are creating marketplace barriers –programs lack uniformity, efficiency, cost efficiency and clarity RPS –definitions vary, percentage requirements vary Disclosure –labels vary; reporting requirements and timing for reporting vary; definitions for fuel mix vary; interim standards –internal and external costs Verification RESULT: Illiquid Market; difficult to project value of Renewable energy © 2000 SB-REP-1000
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Generation Credit Market There are two components to generation: the environmental attributes and the energy. A “credit” represents all of the attributes associated with the underlying energy. A credit based system allows the two components to sell as a bundled product (attribute+energy); or as two separate products –Environmental Attributes can be stripped away from the energy, quantified, packaged and sold as “Credits” –Electricity is sold separately as generic energy What is a “Credit”? Background: A credit based system facilitates purchases of renewable energy resources, and provides verification for compliance with state regulatory requirements such as purchase mandates and disclosure. © 2000 SB-REP-1000
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Strategy Going Forward Status of REC Trading Markets –CA (APX), OH & IL (APX), TX, NePool –Developing markets: NY, PJM, NE RTO, WSCC Facilitate/develop regional trading Work for national trading platform © 2000 SB-REP-1000
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