R. 17-06-026
The ALJ ruling requests comments on long-term Renewables Portfolio Standard ("RPS") transactions by August 26, 2022 and replies by September 9, 2022. A ruling in late August or early September 2022 will request comments on a greenhouse gas free resources staff proposal, and (ii) the November 2022 workshop will address both the staff proposal for incorporating long-term RPS transactions into the RPS Market Price Benchmark ("MPB") and the greenhouse gas free resources staff proposal.
The Staff Proposal is divided into three sections:
Section 1: Transaction to Include in the RPS MPB
- Includes short-term, index-plus, Portfolio Content Category ("PCC") 1 transactions ("STIP transactions") and long-term, fixed-price RPS transactions ("LTFP transactions")
- Includes LTFP transactions based on the current execution date and delivery year criteria, without expanding the dataset according to TURN's 2019 proposal
- Excludes long-term, index-plus transactions ("LTIP transactions')and short-term, fixed-price transactions ("STFP transactions")
- Excludes transactions for mandatory procurement
Section 2: Calculations of the RPS MPB
- Requires LSEs to provide a resource adequacy ("RA") value for LTFP transactions if those transactions include RA capacity
- No differentiation between the MPB technology type or generation profile
- Does not require LSEs to provide generation profiles in the semiannual RPS-PCIA data request
- Two LTFP Incorporation Options:
- 1. When calculating the relevant RPS MPB (forecast or true-up), weighing the value of STOP transactions at 35% and weighing the value of LTFP transactions at 65%
- 2. Calculate two separate RPS MPBs: one for STIP transactions only and one for LTFP transactions only
Section 3: Modifications to the semiannual RPS-PCIA data request necessary to implement sections 1 and 2
- Adds a required "Mandatory Procurement" field in the "Contract Details" section, where LSEs would indicate whether a particular transaction was mandated by the Commission
- Makes the existing "Deemed Capacity Value," "Deemed Energy Value," and "Net Market Value" fields in the "Contract Details" section required instead of optional
- These changes only apply moving forward, starting with the data needed to calculate MPBs for the October Update that immediately follows a Commission decision adopting the Staff Proposal
- LSEs would not need to provide the incremental data for any earlier transactions that are no longer included in RPS MPB calculations
