Connecticut Light & Power Co., an affiliate of Eversource Energy, and The United Illuminating Co. filed amended plans on January 22 for the purchase of renewable energy credits to comply with Connecticut’s Low and Zero Emissions Renewable Energy Credit Program.

•  The annual LREC target for years 6-8 remains approximately $3.2 million for Eversource and approximately $0.8 million for UI.
•  The annual ZREC target for years 6-8 is approximately $3.2 million for Eversource and approximately $0.8 million for UI.
•  The Low and Zero Emissions Renewable Energy Credit Program entails spending of $1,140,000,000, using 15-year contracts.
•  For years one through five, the plan calls for spending $300 million on LRECs and $600 million on ZRECs.
•  For years six through eight the plan calls for spending $60,000,000 each for LRECs and ZRECs.
•  The companies must purchase class I renewable energy credits under fifteen year contracts with owners or developers of renewable energy projects in Connecticut.
•  The price for individual LRECs procured by the companies to be capped at $200 per REC, while ZRECs will be capped at $350 per REC in the first year’s solicitation.
•  Price cap for subsequent years’ solicitations may decline, with a maximum decline of 7% and a minimum decline of 3% from the previous cap, with possible greater cuts in the price cap for contracts entered into in year seven and year eight.
•  Projects must be behind the meter, and may not exceed 1,000 kW nameplate capacity for ZRECs or 2,000 kW nameplate capacity for LRECs. All projects must enter into operation on or after July 1, 2011.