Welcome to Evolution Markets We use cookies for the functionality of our website. We also use some optional functional, performance and marketing cookies, which allow us to make our website and services easy to use and meaningful to you, and to better understand how visitors use our site. This includes working with third party partners, including Google and Byte Studios. We will not set optional cookies without your consent. For more information on all the cookies we use, please see our cookie policy (PDF). Please select your cookies preferences here:

Essential cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.


Statistic cookies help website owners to improve their understanding of how visitors interact with websites by collecting, reporting and analyzing information anonymously.


Marketing cookies are used to track visitors across websites owned by third parties. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.

  • Newsroom
    • Reports
    • News Releases
    • Market Insights
  • Contact Us
  • evo.ID

  • logo
  • logo
  • Our Business
    • Culture and Values
    • Recognition
    • Executive Team

        We named the company Evolution because markets constantly change. Our brokers are here to help you manage risk and profit from evolving global environmental and energy markets.

    • Our Services
      • Brokerage
      • Structured & Advisory
        • Data Policy
        • EvoMobile™
        Data/Analytics

          Seamless trade execution. Innovative risk management. Bespoke structured transactions.

          Learn more about Evolution Markets’ award winning brokerage services

      • Markets We Serve
          • Carbon Markets
          • Renewable Energy
          • Emission Markets
          Environmental
          • Natural Gas Markets
          • Power Markets
          • Oil Markets
          • Nuclear Fuels Markets
          • Biomass Markets
          • BioFuels Markets
          • Coal Markets
          Energy
        • Finance

            We have the longest continuous presence in carbon markets of any firm. We are a recognized leader in renewable energy markets.

            And now we offer unique hedging and risk management opportunities for the coming energy transition.

        • Our Business
          • Culture and Values
          • Recognition
          • Executive Team
        • Our Services
          • Brokerage
          • Structured & Advisory
          • Data/Analytics
            • Data Policy
            • EvoMobile™
        • Markets We Serve
          • Environmental
            • Carbon Markets
            • Renewable Energy
            • Emission Markets
          • Energy
            • Natural Gas Markets
            • Power Markets
            • Oil Markets
            • Nuclear Fuels Markets
            • Biomass Markets
            • BioFuels Markets
            • Coal Markets
          • Finance
        • Newsroom
          • Reports
          • News Releases
          • Market Insights
        • Contact Us
        • evo.ID

        Cookie/Privacy Notice

        We use cookies for analytics and to improve our site. We have a new Cookie Policy and have also updated our Privacy Policy. You agree to our use of cookies and our privacy policy by closing this message box or continuing to use our site. To find out more visit our privacy policy

        • Home
        • Newsroom
        • Market Insights
        • California Legislature Passes Extension of Renewable Standard

        • Previous Post
        • Finance
        • Next Post

        California Legislature Passes Extension of Renewable Standard

        03.30.11

        Yesterday, the California State Assembly passed SB X1-2, which increases the California renewable portfolio standard (RPS) to a 33% target by 2020. The bill has now passed both houses of the State Legislature and sits before Governor Brown awaiting his review.

        The Governor may sign, veto, or take no action on the bill. If the Governor signs the bill, it would become effective 90 days from execution. Additional legislative action clarifying the further implementation of the 33% target is expected. Rulemaking from regulators (both the California Energy Commission as well as the California Public Utility Commission) is also required under SBX1-2 to complete the guidelines and standards of the program.

        Under SB X1-2, the California RPS extends from the current 2010 target of 20% out to 2013. It then ramps the target up to 25% by 2016, and 33% by 2020. Details regarding other relevant structural elements of the law can be found below.

        Given the complex and shifting nature of the current RPS regime (20% by 2010, Senate Bill 107), the compliance portfolios of California load serving entities have been in flux. In the event the bill is signed by the Governor, Buyers will likely have to re-evaluate their existing contracts within the context of the new regime. As such, the immediate effect on the market is uncertain.

        For more information on SB x1-2 and its impact on the California green power market, or to transact in the market, please contact our San Francisco-based Renewable Energy Market team at: +1 415.963.9120.


        SB X1-2 OVERVIEW

        20% by Dec 31 2013
         

        • 50% must come from In-State or Dynamically Scheduled
        • No more than 25% can come from TRECs
        • Up to 50% can come from Shaped and Firmed

        25% by Dec 31 2016

        • 65% must come from In-State or Dynamically Scheduled
        • No more than 15% can come from TRECs
        • Up to 35% can come from Shaped and Firmed

        33% by Dec 31 2020

        • 75% must come from In-State or Dynamically Scheduled
        • No more than 10% can come from TRECs
        • Up to 25% can come from Shaped and Firmed

        RULES

        Banking

        • TRECs must be traded within 3 years of the year in which they were generated
        • TRECs once retired, can be applied to compliance requirements for any Year.


        Eligibility

        • Any CEC Certified WECC RECs generated on or after January 1st, 2008 are eligible (subject to limitations above re; tradability)

        Compliance Entities
         

        • Investor Owned Utilities, Publicly Owned Utilities, Electricity Service Providers

        • logo
        • +1 914 323 0200

        • Company
          • Contact
          • Careers
          • News
          • Evo.ID Login
        • Solutions
          • Market Intermediary
          • Structured Transactions
          • Data & Analytics
          • Corporate Environmental Solutions
        • Markets We Serve
          • Environmental
          • Energy
          • Finance
        Trading in futures and options involves substantial risk of loss and is not suitable for everyone. Past performance is not indicative of future results.
        • Privacy Policy
        • Terms & Conditions
        • Disclaimer
        • Compliance
        • Evolution Markets Futures LLC
        • AB 1305 Disclosures
        • Evolution Markets Inc.