Transferring Credits to a Compliance Sub-Account
To transfer active Renewable Energy Credits (RECs) to a Sub-Account, please take the following steps:
- In the Account Dashboard, locate the Account Status
- Under the Account Status module, Click on an ‘Active’ RECs link.
Note: Account Holder can also Click other REC positions to access transfer screen.
- In the Active credit screen, select the batch(es) of RECs that you wish to retire.
- Clicking the top box in column A will select all RECS on the visible page.
- Adjust transfer quantity as needed for each row selected.
- Review the “Total Quantity” to transfer and Click [Batch Transfer].
Summary of Steps in Credit’s Transfer Screen (Steps 3, 4, and 5):
- Account Holder is then taken to the “Transfer Credits” screen to finalize where the RECs will be transferred.
- Click the “Compliance” radio button and choose the compliance subaccount for the appropriate compliance year.
- Verify all details of the transfer are accurate and Click [Submit] to complete the Compliance retirement of Credits.
Note: Account Holder may need to continue transferring Credits until the annual requirement is met.
Submit Annual Compliance Filing to Michigan Public Services Commission (MPSC)
To satisfy the requirements of PA 295, Michigan Electronic Service Providers are required to transfer eligible credits into their Annual Compliance Subaccount and submit, through MIRECS, the completed subaccount to the Michigan Public Service Commission for approval.
Note: Submitting the Compliance Sub-account for Commission review will lock the Credits in place.
To submit Compliance filing for approval, please complete the following steps:
- Log into MIRECS.
- Locate the “Open Sub-Account” module and select the hyperlinked ‘Sub-Account Name’ to access the relevant Compliance (Active) Sub-Account.
- From the Edit Sub-Account screen, Click on the ‘Compliance Report’link
- In the Compliance Report, Click on the [Submit] button.
Note: The Compliance Report featured above, will display the quantity achieved and quantity still needed to meet the annual requirement. The report will also show how many of the Credits are Renewable Energy Credits, Incentive Renewable Energy Credits, Advanced Cleaner Energy Credits (and whether the ACE Credits are from a plasma facility or not), and whether the Credits are from project owned by the Electric Service Provider.