Note - REC "Portfolio" replaced REC "Compliance" starting with the 2022 reporting year.
Utility Service Providers will make transfers to the REC Portfolio Sub-Account to mirror and support their annual Portfolio filing with the Commission. Credits in this sub-account will remain in Active status until the Portfolio Sub-Account has been reviewed and approved by the Commission.
Note: A Michigan Utility Service Provider is the only type of Account that can Retire Credits for PA295. However, other account types can make Voluntary Retirements
The MIRECS Administrator is not responsible for ensuring that Account Holders retire Credits when appropriate.
REC Portfolio Sub-Account
REC Portfolio Sub-Accounts are automatically created annually in MIRECS and a separate Portfolio Sub-Account will be created for each Portfolio year.
Following the creation of the REC Portfolio Sub-Account, Utility Service Providers can proceed to transfer Credits to the RECPortfolio Sub-Account(s). Credits can be transferred into the REC Portfolio Sub-Account and from the REC Portfolio Sub-Account to other Sub-Accounts until the Sub-Account is ‘submitted’ to the Commission (see #4 below).
The exception to this is for Credits for which PA 295 eligibility expires prior to submission of the REC Portfolio Sub-Account. For these Credits, the following applies:
- The Credits must be transferred to the REC Portfolio Sub-Account prior to the expiration of the PA 295 eligibility.
- The Credits can only be transferred to a REC Portfolio Sub-Account for the Portfolio Year that is equal to or prior to the year in which the PA 295 eligibility will expire.
- If the Credits are in the REC Portfolio Sub-Account before the PA 295 eligibility expires, they will retain the eligibility for the specific Portfolio Year.
- After the expiration date has been passed the Credits can no longer be transferred to or from a REC Portfolio Sub-Account.
Additional articles relating to Annual Portfolio Filings (formally called Compliance prior to 2022) can be found in the Annual REC Portfolio Filling and EWR Compliance section of the MIRECS Help Center
- Reporting Retail Sales
- Portfolio Report
- MPSC Review of Annual Portfolio Filing
- MIRECS Annual Reporting and Transferring Certificates to a REC Portfolio Sub-Account
Note - Information on Compliance for Energy Waste Reduction can be found in the Energy Waste Reduction (EWR) section of the MIRECS Help Center.