The New York Public Service Commission (PSC) recently announced changes to the Clean Energy Standard (CES) program to help facilitate the goal of 70% renewable energy generation statewide by 2030.
Of these changes, we believe it is important to highlight one in particular: The creation of a Tier 4 program in NYISO Zone J (New York City) to value renewable energy.
The creation of this new Tier 4 program means that ESCOs will be obligated to purchase Renewable Energy Credits (RECs) in order to comply with the CES program. This information is currently preliminary and more detail is yet to be published by the PSC, but Stanwich is currently monitoring any developments and assessing how this might impact our customers.
If you have questions on these new changes or would like to discuss future purchasing strategies related to the changes, please contact Stanwich Energy Advisors.