A video version of this article is provided below. The written step-by-step version is provided just underneath that.
Each NYGATS Account Holder will be able to organize its Certificates into different types of Sub-Accounts to allow users to perform a number of specific functions. Each of these Sub-Accounts will be automatically set up for each NYGATS user depending on the Account type.
NYGATS will assign four default Sub-Account types for all Account types:
- Active Sub-Account
- Banked Sub-Account
- Retirement Sub-Account
- Bulletin Board Sub-Account
LSE Account types with Load will be assigned an EDP Sub-Account for each year. The LSE can transfer Bundled Certificates from their Active Sub-Account to their EDP Sub-Account for purposes of the Environmental Disclosure Label at any time during the Trading Period.
NOTE: Prior years’ Banked Certificates and Unbundled Imports cannot be deposited into the EDP Sub-Account at any time.
The Active Sub-Account is the holding place for all active Certificates that originate from generation delivered into and consumed in New York. Certificates in an Active Sub-Account can be transferred at the discretion of the Account Holder.
The Active Sub-Account is the first point of deposit for any Certificates resulting from generation reported by NYISO, data from Qualified Independent Parties and Certificates resulting from generation reported through the Self-Reporting Interface. The Active Sub-Account may be associated with one or more Generating Units
There are four (4) ways to withdraw or remove Certificates from the Active Sub-Account:
- Certificates transferred to another Account Holder’s Active Sub-Account subject to both Account Holders agreeing to the transfer.
- Certificates transferred to the Account Holder’s own Banked Sub-Account.
- Certificates transferred to the Account Holder’s own Retirement Sub-Account.
- Certificates remaining in an Active Sub-Account at the Settlement Date will be automatically removed and included in the Residual Mix and used for Environmental Disclosure Labels.
The Banked Certificate Sub-Account is the holding place for Renewable Certificates (including Non-renewable Fuel Cell) the Account Holder plans to use toward a future voluntary retirement and does not wish to be included in the annual Settlement and Residual Mix. Other than Tier 1 eligible RECs, Banked Certificates may be banked indefinitely.
Tier 1 RECs can be banked by LSE Account Holders and NYSERDA for two years from the vintage year. E.g December 2017 Tier 1 RECs can be banked for 2018 and up to December 2019, but not at all for 2020. Banked Tier 1 RECs from prior vintage years can be transferred into the current year's EDP Sub-Account for use in demonstrating compliance. To Transfer a Banked Tier 1 eligible REC to an EDP Sub-Account, it must be first be moved to an Active Sub-Account before being transferred to an EDP Sub-Account. Tier 1 RECs cannot be applied to past years EDP accounts. e.g. cannot transfer 2018 Tier 1 REC into 2017 EDP Sub-Account
There are two (2) ways that Certificates may be deposited in the Banked Sub-Account:
1) An Account Holder may transfer Certificates from its own Active Sub-Account to its own Banked Sub-Account.
2) An Account Holder can transfer Certificates from their Banked Sub-Account to another Account Holder’s Banked Sub-Account.
There are three (3) ways to withdraw or remove Banked Certificates from a Banked Certificate Sub-Account:
- Banked Certificates may be returned to the Account Holder’s Active Sub-Account.
- Banked Certificates may be Retired. After the Settlement Date for the corresponding Vintage, Tier 1 RECs held by LSE accounts can be retired for RES compliance for 2 years after the certificate vintage. Non-Tier 1 RECs can be retired for voluntary purposes.
- Banked Certificates may be transferred to another Account Holder’s Banked Sub-Account.
Voluntary Certificates in a Banked Certificate Sub-Account as of the annual Settlement will thereafter only be eligible for future voluntary retirement and will not be included on the Environmental Disclosure Label. Non Tier 1 certificates that have been Banked have no expiration and will remain active until retired or exported to a compatible tracking system.
The Retirement Sub-Account is used for voluntary retirement activity not associated with Environmental Disclosure Labels. Certificates in the Retirement Sub-Account are excluded from the Residual Mix during NYGATS Settlement, and will not appear on an Environmental Disclosure Label. When a Certificate is transferred into a Retirement Sub-Account, the Account Holder must specify the purpose for the Certificate retirement.
Additional information on Certificate Retirement can be found on the Certificate Retirement Training Video located on the website.
The Bulletin Board Sub-Account is where Account Holders may post Certificates available for purchase. The Bulletin Board can be viewed by all Account Holders from the list of public reports. Interested Account Holders can contact the seller directly using the contact information supplied with each post.
Certificates can be posted to the Bulletin Board by transferring the Certificates from an Active Sub-Account into the Account Holder’s Bulletin Board Sub-Account. Certificates can be removed from the Bulletin Board by transferring the Certificates back to the Active Sub-Account. Certificates remaining in a Bulletin Board Sub-Account at the Settlement Date will be automatically removed and included in the Residual Mix and used for Environmental Disclosure Program labels.
The LSE can transfer Bundled Certificates from their Active Sub-Account to their EDP Sub-Account for purposes of the Environmental Disclosure Label at any time during the Trading Period. Prior years’ Non-Tier 1 Banked Certificates and Unbundled Imports cannot be deposited into the EDP Sub-Account at any time. Tier 1 certificates can be banked by an LSE for 2 years after the certificate vintage and deposited for RES compliance.
The LSE can optionally assign Certificates to retail products in the EDP Sub-Account for purposes of additional reporting. Retail products, like Retirement reasons, may be selected from the Certificate transfer screen at the time of deposit into the EDP Sub-Account. The transfer screen has a ‘Retail Product Detail’ field where the Account Holder can enter their retail product details (i.e. Utility Green Pricing Program)
If RECs are being retired into the EDP Sub-Account in compliance with the NY RES Tier 1 REC Program, the RES Compliance retirement detail needs to be selected.
For information on how Sub-Accounts can be added or edited, please visit the Add/Edit Sub-Accounts training (Link Here).