Maine RPS Update New (Class I) RECs

Karbone Market Research Briefs

Maine Governor LePage (R) recently indicated that the evidence from the report “The Economic Impact of Maine’s Renewable Portfolio Standard”, suggested the program was raising costs on the state while providing little environmental benefits. As many reviewers point out, these conclusions run counter to those of similar studies completed that indicate no increase in rate payer costs due to RPS programs in other states. With Democrats taking control of both the Maine Senate and House, coupled with Senator Angus King deciding to caucus with Democrats, it seems likely that political support for renewables will continue in ME on a state and federal level. Despite this likely ongoing support, ME prices have continued to decline due to NEPOOL supply flowing back into ME.

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