Retroactive registration, residual mix deadlines and impacts on 2017 issuance
During the December 15, 2015 I-REC Standard board meeting it was decided to extend retroactive registration rules into 2016. During this meeting there was also discussion to implement a system-wide residual mix (RM) deadline and as such restrict issuance for production taking place after the RM deadline. As a result of this discussion a code change request has been submitted to the I-REC Standard board for approval.
Retroactive registration: The ability to retroactively register a production device will be extended to include registration requests in 2016. However, starting January 1, 2016 registrants will only be able to request retroactive registration a maximum of 12-months prior the current date of registration.
The I-REC Standard board views retroactive registration as a privilege granted to registrants and market players who are working to develop liquid and sustainable markets in various countries and regions around the world. The ability to retroactively register production devices will be reviewed on an annual basis and could, in the future, be restricted in any number of ways.
Residual mix (RM) deadline: The board has implemented a system-wide best practice regarding RM deadlines. For the entirety of the I-REC system the deadline for RM calculations of the prior year will be March 31st of the current year. The insurance of certificates will result in attributes being taken out of consumption grid emission average, the RM.
The I-REC Standard board is reviewing the change request submitted for the introduction of the RM deadline. It is likely that the RM deadline will be implemented for the 2016 trade-year with the first RM deadline being 31 March 2017.
Issuance: Issuance requires that the official registration date of the device take place prior to the production period for which I-RECs are being requested. Staying inline with previous regulations, issuance will be allowed for the previous 13 months of production. However the introduction of the RM deadline requires the limitation of this 13 month issuance rule in some cases. Following the RM deadline (31 March 2017) no issuance will be allowed for the previous year in order to secure the attribute statistics of that year. As such issuance requests submitted after March 31 of 2017 will only receive I-RECs for production that took place in 2017.
The official change request being submitted to the board is open for review upon request. The board is expected to decide on these changes during their March 7, 2016 board meeting. Please contact the secretariat if you have any questions or concerns regarding the proposed changes.