Posted by: jbarnesca | January 25, 2013

CREST Program Quickly Closing

The January 24th update of the SCE CREST program gives once again the strong message that this program is over.

In a special red note they state:

NOTICE: SCE has received numerous CREST applications and is in the process of reviewing these applications in the order they were received. If these applications are complete and the projects are deemed eligible, these applications would fulfill SCE’s CREST capacity of 247.7 MW’s. Once SCE’s CREST capacity is filled, SCE will update this notice to reflect its closure of the tariff to any new applications. See Decision (D.) 07-07-027, at 13-14. When the California Public Utilities Commission issues its decision on implementation of the Renewable Market Adjusting Tariff (Re-MAT) Program that will replace CREST, SCE will provide updated information.

As of the January 24th note the total amount of CREST PPAs approved was 214.72MW; therefore, on paper 32.98MW would not have formally received their PPAs.  Of course this is just a matter of a short number of days as the notice implies.

The important not so subtle point is related to the SCE upcoming allocation for the long awaited Re-Mat program.  This was reallocated during this ruling to include amounts going to other municipal utilities such as LADWP, SMUD etc., thus the amount for SCE was actually less than that for the old program.

SCE Re-Mat allocation :  226MW

SCE CREST program cap: 247.7MW

What should be apparent, is that in SCE territory any FIT projects are over for the next two and a half years, or longer since the utilities claim to have satisfied their RPS requirements well past 2017 etc. etc.

That is why the activity is high for movement of those programs from the initial developers to larger groups with  tax equity($30-$50M bundled funds) and lower cost of development structures.  The race is them to complete the construction and interconnection process with SCE before the 18 month to complete deadline of the PPAs expires.

Happy hunting.

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Responses

  1. Hello John,

    Will SCE be holding SPVP RFOs in 2013 and 2014, or is that program also being cancelled?

    Thank you,

  2. Joia,
    See the latest from the past program post. I do not know the schedue they are working under for this year. I will try to check my CPUC information to find that out for you in the next few days.

    Checking my documents it would seem that approximtely 95MW(dc) would still be required to be purchased by SCE under the IPP portion, even though it was reduced in the Feb 16 2012 ruling of 12-02-035 to a total of 125MW(dc) along with the UOP portion reduction to 125MW(dc), with the rest going into the RAM program for SCE.

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