Once GIS projects are approved, Users can set-up Forward Certificate Transfers to automatically transfer issued RECs from their project(s) to their counterparty’s GIS account when a Trading Period is opened.
|Forward Certificate Transfer Process|
Below is the process flow of the Forward Certificate Transfer process:
|Description of Forward Certificate Transfer Fields|
Below is the description of each of field in the Forward Certificate Transfer screen:
Forward Certificate Name/Alias: Transferor assigned name for the scheduled forward certificate transfer viewable by both the transferee and transferor.
Receiving Account Holder: The account in which the certificates will be deposited, the transferee.
Begin Vintage: The first generation month and year to be transferred to the transferee.
End Vintage: The last generation month and year to be transferred to the transferee.
Priority: Each forward certificate transfers name can be assigned a priority, with “1” having top priority over all subsequent forward certificate transfers. In the event a forward certificate transfer with a higher priority transfers the full set of available certificates, any lower priority forward transfers will fail. By default the system applies a “0” priority, meaning no priority.
All or Nothing: Requires the full quantity of certificates to be available for transfer if the Monthly Fixed Amount method is used or forward certificate will fail. Example: 100 certificates entered into the Monthly Fixed Amount field, 95 certificates available for transfer, the forward certificate transfer will fail.
Partial Fill: If the Monthly Fixed Amount method is used and the full quantity of certificates is not available for transfer, the quantity available will be transferred. Example: 100 certificates entered into the Monthly Fixed Amount field, 95 certificates available for transfer, 95 certificates will transfer.
Note/Transferee: Optional description of the forward certificate terms to be entered by the transferor and viewable by both the transferor and transferee.
Show Import Generators/Show My Generators: This button can be used to toggle between viewing the transferor’s approved generators or a list of approved import generators. By default, the transferor’s generators are displayed.
Monthly Percentage: A percentage applied to the monthly certificate output to be transferred.
Monthly Fixed Amount: A fixed monthly whole number value of certificates to be transferred. Selection of this box will block all capability to rescind, edit or change this Forward certificate: If selected, only the NEPOOL GIS administrator will have the ability to modify the scheduled transfer, contingent on confirmation from both the transferor and transferee.
Please visit the Forward Certificate Transfer Management FAQ page for more information.