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The New Jersey Board of Public Utilities has recently released a notice to all users of the Clean Power Markets (CPM) NJ SREC trading platform of a move to the Generation Attributes Tracking System (GATS) operated by the tri state PJM Environmental Information System (PJM-EIS). However, the time frame for the transition is dependent on two factors. First the speed at which PJM-EIS can employ the necessary changes in order to meet the functionality requirements SREC generators will require. And secondly, the contract between the Board and CPM will expire this coming September forcing the Board to transfer the program to GATS immediately. So far the Board is attempting to renew the contract for another year which will allow them to take the longer transition approach and move the entire SREC system to GATS by next September.
Currently the Board of Public Utilities Office of Clean Energy has two options. Assuming the contract extension is signed with CPM the Board will initiate a SLOW implementation which will begin august 1 of this year and be completed by September 1st 2009. However, if the contract is not extended the Board will initiate a FAST implementation which will begin august 1st 2008 and completed the following month on September 1st. A decision regarding the contract extension with CPM will be released on July 1st.
Flett Exchange will keep you updated on any new developments.
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