Florida’s Public Service Commission (PSC) today approved a standardized contract template for Florida Public Utilities Company (FPUC) and conditionally approved a similar contract for Tampa Electric Company (TECO). Renewable energy providers can use the new contract template to make it easier to link into the grid.
The Commission told TECO to drop a contract provision giving it the right of first refusal for any tradable renewable energy credits (TRECs) received by the renewable generator. According to PSC rules, TRECs are the exclusive property of the renewable energy provider. FPUC’s contract was approved as submitted.
Standard contracts designed for renewable energy providers specify how the investor-owned utility (IOU) will pay for the energy produced by the renewable facilities. Contract terms run for at least 10 years and standardize key components for the renewable providers.
The PSC is committed to making sure that Florida's consumers receive their electric, natural gas, telephone, water, and wastewater services in a safe, affordable, and reliable manner. The PSC exercises regulatory authority over utilities in the areas of rate base/economic regulation; competitive market oversight; and monitoring of safety, reliability, and service.
For additional information, visit www.floridapsc.com.