Regulatory and Economic Analysis of Renewable Portfolio Standards in New Brunswick
Synapse assisted the Department with the development of regulations for a renewable portfolio standard (RPS) in New Brunswick. One phase of the project included drafting regulations that will cover all aspects of the RPS, including the definition of eligible resources, the renewable target, treatment of imports, compliance mechanisms, generation information systems, and monitoring and enforcement mechanisms. Another phase of the project included conducting an economic analysis of different RPS proposals. This analysis included a comprehensive assessment of the cost and availability of renewable resources in the region, especially wind generation. It also included an assessment of the demand for renewables, a forecast of wholesale market prices, and an estimate of the renewable premiums associated with different RPS proposals. The economic analysis also identified the likely impact of different renewable portfolio standards on electricity prices. Project completed in December 2005.