Participating in the Voluntary Tier 1 REC Pre-Sale
In NYGATS, REC Sale Participants have access to an interface through which a REC Sale Participant can place an order to purchase Voluntary Tier 1 RECs from NYSERDA during the Voluntary Tier 1 REC Pre-Sale.
This functionality is available for purchasing Tier 1 RECs voluntarily from NYSERDA and is available to all REC Sale Participants.
Overview of NYSERDA Voluntary Tier 1 REC Pre-Sale Process
- NYSERDA will offer Voluntary Tier 1 RECs for sale through an annual Voluntary Pre-Sale
- REC Sale Participants will be able to order Tier 1 RECs; Quantity of RECs available for purchase, Price per REC, and Minimum Order Quantity, are determined by NYSERDA and announced prior to the sale.
- REC Sale Participants will receive an invoice from NYSERDA for their purchase of Voluntary Tier 1 RECs
- NYSERDA will notify REC Sale Participants when the sale begins via e-mail
- NYSERDA will allocate Voluntary Tier 1 RECs and invoice REC Sale Participants after the sale closes
- When the NYSERDA Voluntary Tier 1 REC Pre-Sale is open, REC Sale Participants can enter the number of Tier 1 RECs they would like to purchase from NYSERDA and submit the order to NYSERDA through the interface.
To Access the Voluntary Tier 1 REC Pre-Sale Order Screen
When the NYSERDA Voluntary Tier 1 REC Pre-Sale begins, REC Sale Participants can access this functionality through the Voluntary Tier 1 REC Pre-Sale hyperlink in the Account Status module of their NYGATS homepage. NYSERDA will notify all REC Sale Participants when the sale begins via email
When a REC Sale Participant clicks on the hyperlink, the “Certificate Orders” screen will open, and it has 3 sections.
1. The first section displays the parameters of the data to be displayed in the following sections such as Year, Certificate Type, and Sale Type
2. The second section displays the specific sale details such as Order Period, Minimum Order Quantity, and Available Inventory.
3. The Third Section displays a table which provides Price per REC of the Sale, Quantity Ordered, Cost of Order, Quantity allocated to the REC Sale Participant, and Actual Order Cost.
To Complete Voluntary REC Sale Order from NYSERDA
1. REC Sale Participants will access Certificate Orders Screen (see instructions above).
2. Locate the “Order Quantity” Column and select the quantity of RECs to order
- REC Sale Participants will not be able to submit an order if:
- Order Quantity is greater than Available Inventory
- Order Quantity is less than Minimum Order Quantity
3. Select the [Submit Order] button to submit the Order to NYSERDA
4. Terms and Conditions will pop up and ask you to confirm your agreement to the terms and conditions of the transaction
- A notification is sent to the billing contact when orders are placed, modified, or deleted
5. The Order Status will be updated to Order Submitted
- If a REC Sale Participant must cancel their order, they must enter “0” into the Order Quantity Column and click submit order. This will “Zero Out” the initial order they had submitted.
- If a REC Sale Participant must modify their order amount, they must enter the new amount they would like to order into the Order Quantity column and click submit order. REC Sale Participant must confirm their agreement to the “Terms and Conditions”. This will update their order quantity for the sale.
6. When an order has been submitted and after the 14-day order window is closed, NYSERDA will review the order and allocate RECs to the REC Sale Participant
7. NYSERDA will issue an invoice for the Tier 1 RECs allocated in the Voluntary Pre-Sale and the billing contact assigned in the account registration of REC Sale Participants will receive an email with invoice.
- The Order Status will display: “Invoiced” with the date the invoice was generated
- The REC Sale Participant can download a copy for the invoice using the hyperlink
8. Once the REC Sale Participant’s payment has been received and processed by NYSERDA, the RECs will be set to be delivered in Q1 following the end of the vintage year. Example: Vintage 2025 Tier 1 Pre-Sale is held in 2024. Tier 1 RECs purchased from the Pre-Sale will be delivered Q1 2026.
- If the Tier 1 Voluntary Invoice is not paid in a timely manner, NYSERDA reserves the right to cancel the invoice.
9. Distributed Tier 1 RECs can be accepted from the inbox located on the REC Sale Participant`s account dashboard
- NYGATS will notify the NYGATS Account Manager REC Sale Participants billing contact when the RECs have been delivered to their account.