*Since the date of this news item’s publication, the organization ‘The International REC Standard Foundation’ has changed to ‘The International Tracking Standard Foundation: Founder of I-REC (I-TRACK Foundation).’
I-REC Standard Foundation supports the EnergyTag initiative on the release of their recent publications. The I-REC Standard Foundation supported in the authoring of both the Granular Certificate Scheme Standard and the Granular Certificate Use Case Guidelines and supports the initiative in both their goals and recommendations. It is the expectation of the I-REC Standard Foundation that the work of Accredited Entities will be compliant with EnergyTag’s Granular Certificates Scheme Standard.
The I-REC Standard recently facilitated a 24/7 matching pilot with Google in Chile and is coordinating with the Electricity Generating Authority of Thailand (EGAT) and others on the development of market-wide temporal matching implementation by Q3 of this year. This work is being facilitated with the Evident Services, the I-REC Standard Accredited Code Manager of I-REC for Electricity but is relevant for the developing I-REC Standard hydrogen and carbon capture Product Codes.
The I-REC Standard Foundation believes that procurement structures based on 24/7 matching is going to be an important tool for some stakeholder to meet their sustainability and internal goals. That said, the I-REC Standard also thinks it is of the utmost importance that these new and innovative procurement structures do not undermine the core principles of attribute tracking systems that stakeholders have worked 20-years and in many jurisdictions to improve. The I-REC Standard sees this method of procurement as a reduction in the accounting period to a 15-minutes or an hourly basis instead of the more common day, month, or year accounting periods.