Court Ruling Clouds Power Producers’ Horizon

Law360, New York (February 22, 2007, 12:00 AM EST) -- A recent New Jersey appeals court ruling finds that it is lawful for state regulators to reallocate the ownership of Renewable Energy Certificates (RECs) from the generator to the purchaser of renewable energy if the parties’ contract does not specify ownership.

The ruling adds to uncertainty nationally over the rightful ownership of RECs and points out the importance of clearly addressing ownership in any Purchase Power Agreement (PPA) for renewable energy.

Also known as Renewable Energy Credits, RECs are an increasingly valuable commodity as states move...
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