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PURA finds 2023 renewable portfolio shortfalls; more than $27 million in compliance payments assessed
Summary
The Public Utilities Regulatory Authority adopted a decision finding multiple electric suppliers and the two distribution companies short on Connecticut's 2023 renewable portfolio standard, assessing over $27 million in alternative compliance payments and setting deadlines for payment receipts and deposits.
The Public Utilities Regulatory Authority on March 12 adopted a decision in Docket 240601 finding that multiple electric suppliers and the state's two electric distribution companies did not fully meet Connecticut's Renewable Portfolio Standard (RPS) for calendar year 2023 and assessed more than $27 million in alternative compliance payments (ACP).
The decision, presented by authority staff attorney Kate Keenan, found that 40 companies (38 electric suppliers and the two electric distribution companies) served an aggregated Connecticut load of approximately 24,600,000 megawatt-hours in 2023. Of those, 27 companies satisfied RPS requirements in the classes for which they were subject, and four companies met their full RPS obligations for all classes via renewable energy certificates (RECs).
Keenan told the panel that the aggregate deficiency for companies that did not meet requirements consisted of 564,465 Class I certificates, 154,148 Class II certificates, and 33,746 Class III certificates, leading to an assessment of over $27,000,000 in ACPs. The decision breaks down the ACPs as follows: $261,532 payable to the Green Bank, $18,445,249 payable to Eversource, and $9,611,445 payable to UI. The decision further directs that, of the ACPs payable to the electric distribution companies, Eversource and UI shall deposit $2,675,535 and $1,178,165 respectively into the Class II ACP component of the Sustainable Materials Management Fund.
The decision orders all electric suppliers and the electric distribution companies that owe ACPs to submit receipts to the authority no later than April 9, 2025, showing such payments. It also orders each electric distribution company to deposit the specified ACP amounts into the Sustainable Materials Management Fund no later than April 16, 2025. Keenan recommended adoption of the decision; the panel moved, seconded and adopted the decision by roll call.
Why it matters: The ACPs are the remedial mechanism under Connecticut's RPS that shift the financial consequences of noncompliance toward suppliers and, in some cases, distribution companies. The deposits to the Sustainable Materials Management Fund will flow into a state account specified by the decision and may affect how collection and remediation for Class II compliance proceeds.
The authority recorded the staff recommendation and a roll call adopting the decision. No further discussion of remedial alternatives or appeals was recorded in the meeting.
Ending: The adoption closes Docket 240601 for the authority's regular calendar; the decision specifies the payment and deposit deadlines and requires suppliers and distribution companies to file proof of payment as ordered.
