In comments filed with the New York Public Service Commission, RENEW Northeast urged New York to switch from the current NYSERDA budget-based procurement model of renewable energy certificates (RECs) to a target-based system solely of electric utility contracting for renewable energy as found in several of the New England states.  A significant benefit of long-term contracts for consumers comes from lowering the development cost of renewable energy by giving developers and their investors the confidence to commit their capital. Contracting for energy at a fixed-price over a long term will provide consumers with the full benefits of renewable energy whose “free fuel” provides a hedge against electricity price swings caused by the volatility in natural gas and other fossil fuel markets.

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