Protecting Your Ownership In Future Carbon Markets

Law360, New York (May 12, 2008, 12:00 AM EDT) -- An important lesson on ownership has already been learned the hard way with respect to renewable energy credits (RECs).

In 2006, California passed Senate Bill 107, accelerating its renewable portfolio standard (RPS), which requires that a portion of utilities' energy portfolios come from renewable energy resources. The legislation also refined the use of RECs in the RPS program. The bill included a provision stating:

“No renewable energy credits shall be created for electricity generated pursuant to any electricity purchase contract with a retail seller or a...
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