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ICC Issues Final Order In IPA’s Long-Term Renewable Resources Procurement Plan For 2024
Dockets:
23-0714
Category: Uncategorized
Re: Illinois Power Agency (IPA) revised Long-Term Renewable Resources Procurement Plan for 2024.
Among other things the ICC’s order:
- declines to approve post-award contract changes to indexed REC contracts, sharing “both the concerns of ComEd that post-award contract changes could undermine the competitive process and the concerns of the IPA that Illinois’ RPS goals could be hampered by projects becoming uneconomic,” but said that no limitations should be placed on workshop discussions, “In other words, it may be appropriate that there be no post-award changes or if there are post award changes, they may be negotiated or based on a formula and might result in higher or lower REC prices”;
- declines to adopt Clean Grid Alliance’s non-photovoltaic (non-PV) community renewable generation proposal as impractical, but directs IPA to “again request information regarding the level of interest in non-PV community renewable generation for the next iteration of the LTRRPP,” including “looking at whether projects such as this are economically viable”;
- “adopts the IPA’s position to maintain the establishment of a DG subcategory for the EEC category and to extend the amount of time that the capacity would be held open for behind-the-meter projects from nine months to eleven months”;
- denies ComEd’s proposed discount rate modifications to the REC pricing model, reversing the proposed order, agreeing “with the IPA that the REC Pricing Model does not utilize conventional levelized cost of energy calculations and therefore it is not necessary to discount the generation factor”;
- notes that IPA agrees with parties’ “various arguments regarding the revenue streams available to community solar projects and whether they are accurately reflected in the REC Pricing model“ and will make appropriate corrections, and “agrees with the IPA that it should consider whether an update” to “the assumed 80/20% split between developers and subscribers” would “be appropriate for the next Long-Term Plan”; and
- “approves IPA’s proposal to use a stakeholder process to fully develop” its proposed initiative “implementing an economic incentive for Approved Vendors that assist stranded customers in the form of a ‘REC adder’—an increased price in the REC Contract for RECs generated by projects that were stranded and then ‘unstranded’.”
Final Order (02/20/2024)
23-0714 (10/20/2023)
