REC Issuance

Following production device registration, the registrant can request I-REC standard certificate issuance for any production after the official date of registration. Each issuer may have slightly different requirements for the issuance of I-RECs. At the time of registration, the registrant will have already indicated the expected form of volume evidence that will be used e.g. electricity network operator’s metering, although the exact form can vary for each issuance. Except where mandated otherwise by local legislation, it is the registrant’s responsibility to provide volume evidence to the issuer.

The purpose of this section is to define the generic steps a registrant will encounter as they work to issue I-RECs from a registered I-REC production device:

Step 1: Review production details

Registered production devices will need to determine for which period they wish to issue I-RECs. It is the choice of the production device owner and the appointed registrant to request I-REC issuance; it is not a requirement that production devices issue I-REC standard certificates. In order to issue I-RECs, the registrant will determine the production volume for the chosen issuing period.

Step 2: Third-party verification and evidence of production data

All production data must be audited by a third-party prior to I-REC standard certificate issuance. Each national issuer may mandate a different form of production data verification. The issuer usually requires third-party confirmation of production details from the national grid operator, national regulator or public authority. The I-REC Code documentation lists In locations where the electricity market is less developed other forms of third-party verification can be accepted. All issuers, including the RotW issuer, are tasked with conducting frequent audits to ensure the information delivered and verified by the third-party was accurate.

Step 3: Applying for issuance with the issuer

Registrants are able to apply for I-REC issuance electronically via their I-REC registry access. On the registry they will be required to submit:

– A signed, scanned and completed copy of the ‘I-REC Issuing Request Form’, and

– Evidence of the production volume, and

– Official third-party verification of production details.

Since individual I-RECs must always be contained in an account, similar to a bank account, the registrant must declare which account will receive the issued I-REC standard certificates. This can be different for each individual I-REC issuance request. When all the information has been reviewed and approved by the issuer, they will issue the requested I-RECs to the trade account of a participant. If errors or inconsistencies occur as a result of an issuing request, the issuer will reject the current I-REC issuance request and contact the registrant for more details.

Step 4: Finalizing issuance

Issuer will send the registrant an invoice for the issuance of the I-RECs. The invoice must be paid in full prior to the release of the I-REC certificates. Each individual issuer may have different fees for I-REC issuance. More information about fees can be found on the I-REC Standard website.