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Ch. 119
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Martin O'Malley, Governor
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[(c)] (D) (1) Except as authorized under paragraph (2) of this subsection,
a renewable energy credit shall exist for 3 years from the date created.
(2) A renewable energy credit may be diminished or extinguished
before the expiration of 3 years by:
(i) the electricity supplier that received the credit;
(ii) a nonaffiliated entity of the electricity supplier:
1. that purchased the credit from the electricity supplier
receiving the credit; or
2. to whom the electricity supplier otherwise transferred
the credit; or
(iii) demonstrated noncompliance by the generating facility with
the requirements of § [7-704(g)] 7-704(F) of this subtitle.
[(d)] (E) Notwithstanding subsection [(c)(2)(iii)] (D)(2)(III) of this section,
and only if the demonstrated noncompliance does not result in environmental
degradation, an electricity supplier that reasonably includes in its annual report
under § 7-705 of this subtitle a renewable energy credit that is extinguished for
noncompliance with § [7-704(g)(1)] 7-704(F)(1) or (2) of this subtitle:
(1) may continue to rely on that credit for that year; but
(2) for later years must:
(i) demonstrate a return to compliance of the generating facility
under § [7-704(g)] 7-704(F) of this subtitle; or
(ii) replace the credit with a renewable energy credit from
another source.
[(e)] (F) The Commission by regulation shall establish requirements for
documentation and verification of renewable energy credits by licensed electricity
suppliers and other generators that create and receive credits for compliance with the
standards for Tier 1 [renewable sources and], Tier 2, AND TIER 3 renewable sources.
7-712.
Subject to § 2-1246 of the State Government Article on or before February 1 of
each year the Commission shall report to the General Assembly on the status of
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- 1119-
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