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Jersey Central Power & Light

Purchase and Sale Agreement Expiration

After 10 years JCP&L will no longer purchase any further SRECs from your solar project. Under New Jersey law your project is eligible for 5 more years of SRECs at the market price.

In order to continue receiving payments for your SRECs, there are a few steps that need to be completed:

  1. All solar owners need to have their own GATS account. GATS is the company that is run by the state that certifies the energy you produce through your panels, and then awards you with an SREC for every 1,000 kwh that you produce.
  2. Every solar facility in New Jersey needs a revenue grade meter to track energy production and SREC creation. JCP&L will remove your meter at the conclusion of your contract. You will need to install a new revenue grade meter. You will lose all SREC production until you do so.

This is where Flett Exchange comes in. We offer two services for owners of solar in New Jersey to sell their SRECs. Here they are:

Do-it-yourself SREC service:

This service is for those who want to create and manage their own GATS account (this is where you enter meter readings each month, mint SRECs and transfer them to buyers). Flett Exchange is used by thousands of solar owners to sell their SRECs. Similar to a stock exchange, companies compete for your SRECs so you know you get the market price.

When you sell on Flett Exchange you must transfer your SRECs on GATs to Flett Exchange. Flett Exchange pays you the same day. The fee is only $2.50 per SREC sold for homeowners.

Larger commercial arrays pay from $0 to $2.50 per SREC (You can reach out directly to us to determine your rate). With the do-it-yourself service you can sell your SRECs to anyone –not just Flett Exchange.
Sign up by clicking here.

Flett REC-Manager SREC service:

This is our full-service SREC management program. We will handle your GATS account, enter your meter readings each month, mint your SRECs, and sell them in a block with all of our other customers. (This results in a slightly higher price because you are bundled in with thousands of other RECs).

We pay you in the middle of each month via check or ACH as long as you generate enough energy to create an SREC.
Sign up by clicking here.

    Here are the steps for setting up a Do-it-yourself Account

  1. Apply for a Flett Exchange Do-it-yourself account at: https://www.flettexchange.com/self-registration
  2. Create a GATS account at: https://www.pjm-eis.com/
  3. Submit a Schedule A to GATS. This instructs Jersey Central Power & Light to transfer your solar facility into your new GATS account.
  4. Install a new Revenue Grade Meter after JCP&L removes theirs.
  5. Enter your meter readings from your solar meter to your GATs account
  6. After 7 days your GATS account will “mint” SRECs
  7. To sell on Flett Exchange transfer the SRECs from your GATS account to the “Flett Exchange, LLC” account in GATS at the "sell now" price listed on our the Flett Exchange homepage here: https://www.flettexchange.com/. (our software will process your trade and send a confirmation email)
  8. Flett Exchange will remit payment to you via check or ACH within 3 business days.

    Here are the steps for setting up a Rec Manager Account:

  1. Apply for the Flett REC-Manager account at: https://www.flettexchange.com/register
  2. You will receive a Schedule A from us immediately online. Fill it out and hit submit. We take care of all GATS procedures for you. This will transfer your GATS account from JCP&L provider to Flett Exchange, LLC. (DO NOT APPLY FOR A GATS ACCOUNT!)
  3. Install a new Revenue Grade Meter after JCP&L removes theirs.
  4. Our staff will reach out to you to set up a meter reading. We will enter meter readings once a month on your behalf. GATS “mints” your SRECs monthly. We will sell them and remit payment in the middle of each month that you generate an SREC.
Below is an example of an expired SREC purchase and sale agreement from Jersey Central Power & Light. Your notice may look similar, as well as the steps you may need to take. In this example we added the steps and comments in BOLD that a JCP&L customer would need to follow to sign up for the Do-it-Yourself or REC-Manager services by Flett Exchange:
JCP&L Offboarding Letter Example

«Todays_Date»
Via Email
«Email»
«Company»
«Address»
«Address_2_of_Customer»
«City», «State» «Zip»
Attn:
RE: SREC Project NJCEP Appl # «NJCEP»
«Company»-«Project» «Capacity» kw Project

Dear Sir or Madame :

The Solar Renewable Energy Credit (“SREC”) Purchase and Sale Agreement (“PSA”) dated «PSA_Date» with Jersey Central Power and Light Company (“JCP&L” or the “Company”) expired on «Final_Read». With the expiration of the PSA, JCP&L will be obtaining one last reading of the meter registering usage for your project (the “SREC Meter”) to record the final generation of SRECs under the PSA. Following this final meter reading, JCP&L will no longer be purchasing any SRECs produced by this solar project.

As discussed further below, JCP&L will also need to remove our metering equipment associated with this project. Please be aware that when our metering equipment is removed, the circuit on your solar generation will be broken and net metering will not occur until you install appropriate equipment to reconnect the circuit. We will need to coordinate with you and/or an electrician for the removal of our metering equipment, so that you can replace the metering equipment as it is removed. This is to ensure that your solar project will continue to operate after the removal of JCP&L’s equipment. If you wish to coordinate with JCP&L about the removal of its equipment, please contact me as soon as possible. Although the PSA has expired, you may still be eligible to continue generating SRECs for the remaining qualifying life of this project under the New Jersey SREC Registration Program rules. For further information regarding metering and any other requirements related to the generation of SRECs, please contact the PJM Generation Attribute Tracking System (“GATS”) administrator via gatsadmin@pjm- eis.com. Additional information can be found at pjm-eis.com.

JCP&L will remove our SREC Meter, Meter No. «Current_Meter_Number», and metering equipment within 30 days of this letter. Again, your solar project will not be able to operate after our metering equipment is removed, unless and until you make appropriate wiring modifications. As expressed above, we recommend getting assistance from an electrician or solar installer. Please contact me if you have any further questions on the removal of the Company’s metering equipment.

Sincerely,

Benjamin Lynch

Benjamin Lynch
JCP&L SREC Program Coordinator
341 White Pond Drive
Akron, OH 44320
330-315-6828
bwlynch@firstenergycorp.com

If you are going to use the Flett REC-Manager full-service, Flett Exchange will supply a pre-filled Schedule A for you to sign and we will submit it to GATS. You do not have to register with GATS. To do this apply for the Flett REC manager service here:

Apply for Flett Rec Manager Service.

If you plan on using a Flett Exchange Do-it-Yourself account, Register for your Do-it-Yourself Flett Exchange account here:

Register for your Do-it-Yourself Flett Exhange Account

NOTE: Only follow the instructions in yellow if you are going to manage your own GATS account and use the Do-it-yourself Flett Exchange service.
  • Establish a GATS account as a "generator" here: https://gats.pjm-eis.com/GATS2/Accounts/AccountReg/New.
  • When your GATS account is active (it will take about 1 day) you will need to complete a Schedule A Form to transfer your solar facility from JCP&L to your GATS account:
    1. Check off the second option under number 2.
    2. Fill in your address. Enter your NON number provided in your JCP&L letter as the generator Identifier.
    3. Sign it and email it to gatsadmin@pjm-eis.com.
  • GATS will notify you when your solar facility is active in your account.
  • Additional information can be found on the PJM GATS website under “Getting Started”.

FAQs for Expired JCP&L 10 Year SREC Contract

Please refer to the information below for answers to frequently-asked questions regarding your paid-off solar loan.

When your 10 year contract expires JCP&L will no longer manage the SREC account for your system. You will need to establish your own account in the PJM Generation Attribute Tracking System (GATS) http://www.pjm-eis.com, and create and sell your own SRECs. You are eligible for 5 more years of SRECs.
(If you want Flett REC-Manager service do not open an account at GATS. Flett Exchange will do this for you. All you need to do is apply for a Flett REC Manager account here: https://www.flettexchange.com/register)

  1. Go to http://www.pjm-eis.com/. Create your new Solar System account by clicking on “Not a Member? Register Here” on the upper-left side of the page under “GATS Sign In.” (Important: On the online form, under “New Account Information”, be sure to enter “Generator” as your Account Type.)
  2. PJM GATS will notify you by email once your account is approved. Please note: You will not need to register a new generator.
  3. Once your account has been approved and Schedule A Form submitted, PJM GATS will contact JCP&L regarding the transfer request for your Generator account.
  4. JCP&L will transfer control of your facility in GATS.

As JCP&L has stated, with the expiration of your contract, they are removing their solar/srec meter. URGENT: You need to have a New Revenue Grade Solar Meter installed by your installer or a professional, immediately when the old meter is removed. Without a new meter installed, you are losing production and SRECs, thus money every day, potentially hundreds of dollars a month. We suggest contacting your installer or a professional before contract expiration if possible to schedule a new meter installation to minimize downtime after the old meter is removed.

Try to take a final reading from the old meter as close to removal for your records if possible.

When your new meter is installed, be sure to ask the installer how to read the meter. A smart meter may be installed and it will show several readings on the display. You need the total Solar Production reading to report to PJM GATS for SRECs.

Once the new meter is installed, your PJM GATS account will need to be updated to reflect the new meter.

If you are registering for a Flett Exchange Do It Yourself account, you can call PJM GATS for assistance in deleting the old meter and adding the new one.

If you are registering for a Flett RECmanager account, we will handle updating PJM GATS for you. We will ask you for that information later. NOTE: You still need to handle and schedule to have a new RG solar meter installed immediately.

To transfer your account, submit your Schedule A Form to PJM GATS. The form can be found at http://www.pjm-eis.com/.

  • (Do not do this step if you want a Flett REC Manager full service account. We will do the GATS registration for you. We will send a Schedule A to you that you will fill out and return to us. You can apply for a Flett REC-Manager account here: https://www.flettexchange.com/register)
  • (Do this step if you want to manage your own GATS account and sell with the Flett Exchange Do-it-yourself account which you can register for here: https://www.flettexchange.com/self-registration)

Please refer to the PJM GATS website for instructions on how to enter generation data to create SRECs here: https://www.pjm-eis.com/getting-started/rec-creation.aspx

(If you want a Flett REC Manager full service account we will enter your meter readings and sell your SRECs automatically. Apply for a Flett REC-Manager account here: https://www.flettexchange.com/register-pseg)

Flett Exchange SREC marketplace is where solar owners get the market price for their SRECs. Over 17,000 homeowners with solar in New Jersey use Flett Exchange to sell their SRECs. Energy companies compete for your SRECs which ensures that you receive the going market price. If you are going to sell your own SRECs register for a Do-it-Yourself account at Flett Exchange here: https://www.flettexchange.com/self-registration.

Direct any questions about GATS SREC creation to: gatsadmin@pjm-eis.com or 877-750-4287.

Questions about SREC selling by the Do-it-yourself option or the Flett REC-Manager contact: info@flettexchange.com or call us in the office at 201-209-0234.

Apply for Flett Do-it-yourself at: https://www.flettexchange.com/self-registration
Apply for Flett REC-Manager at: https://www.flettexchange.com/register-pseg