SYMPOSIUM

June 5-6 2019Hilton Providence

Providence, RI

EUCI is authorized by IACET to offer 1.0 CEUs for the symposium

RENEWABLE ENERGY MARKETS SYMPOSIUM 2019 Renewable Energy Credits (RECs), Market Dynamics & Trading

“This seminar is full of excellent information, beneficial to any ranking profession looking to refine their knowledge on RECs, and their markets.”

Financial Operations Analyst, Clearview Energy

EUCI is authorized by CPE to offer 12 credits for the symposium

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RENEWABLE ENERGY MARKETS SYMPOSIUM 2019June 5-6 2019 | Providence, RI

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OVERVIEWThis symposium will evaluate renewable energy markets, diving into the dynamics of both voluntary and compliance markets and how they are formed through regulation, policy and evolving consumer awareness and demand. It will review the function of Renewable Energy Credits (RECs) and their essential role in renewable energy developments and financial transactions, providing a current and in-depth understanding of REC market forces, dynamics and trading instruments. Various renewable market experts will describe active and emerging REC markets in the U.S., analyzing key financial and contractual considerations. This program will also provide detailed information on growing voluntary renewable and renewable markets across the U.S., describing trends and dynamics in regulated and retail utility markets, utility green pricing programs, and covering trends such as corporate renewable procurement and the inclusion of RECs in bundled power purchase agreements (PPAs). There will be a discussion on typical processes for REC verification, certification, system administration, and appropriate financial structuring to achieve their optimum transactional value. In addition to the traditional classroom setting education, attendees will also benefit from an interactive “REC trading” exercise to gain hands-on experience in the commodity marketplace.

LEARNING OUTCOMES• Review the history of Renewable Energy Credit (REC) markets• Evaluate REC markets on a national, regional and state perspective• Discuss fundamentals of registering, selling, settling and tracking RECs• Review best practices for managing REC tracking systems and functional activities on the administrative level• Describe active and emerging REC markets from emerging state clean energy legislation• Evaluate potential impacts to REC markets from changing regulation and policy• Discuss the status and key trends with voluntary REC markets

o Utility REC/green pricing programso Commercial and residential buyerso Verification, certification and purchasing processes

• Examine REC market dynamics, transaction and trading fundamentals• Analyze historical REC pricing information, market liquidity, and causes for market fluctuations• Discuss best practices for REC compliance in New England markets for state RPS goals• Identify types of transactions, contract options and processes to piece together a successful financial package

“Great course! EUCI does a great job organizing and executing courses and conferences.”

Sr. Contracts and Operation Manager, Nexant Inc.

“The panel discussions and final mock trading were very useful and informative.”

Energy Market Analyst, Connecticut Municipal Electric Energy Coop

“EUCI conferences are targeted at industrial insiders and each one dives deep into specific topics. This REC program is great for anyone looking to expand their connections within their industry or those new to the material.”

CEO, EDGE Energy

RENEWABLE ENERGY MARKETS SYMPOSIUM 2019June 5-6 2019 | Providence, RI

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AGENDAWEDNESDAY, JUNE 5, 2019

8:00 — 8:30 am Registration and Continental Breakfast

8:30 – 10:00 am Introduction to Renewable Energy Markets & Renewable Energy Credit (REC) Market Dynamics • Background and history of renewable energy credits (RECS)• Structure of RECs from a legal and regulatory standpoint

o Renewable portfolio standard (RPS) programso National perspectiveo Regional perspective

• States covered with RPS programs• How are RECs created and transferred?• REC procurement and sale• Regulatory/legislative issues• Update on regional REC market activity

o New England Renewable Energy Credits (RECs) overviewo New Jersey

• Renewable energy credit (REC) market dynamics• REC market forces and dynamics• REC statistics by technologies• REC statistics by state• Multi-state qualification• Compare and contrast regional markets• Solar renewable energy credits (SRECs)• Carve-outs, set-asides and other focusing instruments• Describe a summary of oversupply/undersupply in the market• Identify the function of alternative compliance payment mechanismKatherine Wilson, Senior Energy Analyst, Eversource Energy Jack Velasquez, Senior Vice President – Environmental Markets, Marex Spectron

10:00 – 10:15 am Morning Break

10:15 – 11:45 am Overview of REC Registries & Administrative Aspects of Operation• Overview of RECs regional markets and North American REC tracking systems, or registries

o Texas Renewable Energy Credit Programo PJM - Generation Attribute Tracking Systemo Western Renewable Energy Generation Information System (WREGIS)o Midwest Renewable Energy Tracking System (M-RETS)o North American Renewables Registry (NAR)o Michigan Renewable Energy Certification System (MIRECS)o Nevada Tracks Renewable Energy Credits (NVTREC)o North Carolina Renewable Energy Tracking System (NC-RETS)o NEPOOL - Generation Information System (New England)

• Review how different registries operate• Tips for programmatic day to day, administration and operation• Compare and contrast regional markets: key differences• Midwestern RECs: understanding the opaque market and evaluating future opportunitiesBenjamin Gerber, Executive Director, Midwest Renewable Energy Tracking System (M-RETS)

11:45 am – 12:45 pm Group Luncheon

RENEWABLE ENERGY MARKETS SYMPOSIUM 2019June 5-6 2019 | Providence, RI

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AGENDAWEDNESDAY, JUNE 5, 2019 (CONTINUED)

12:45 – 2:15 pm New England State Policy & Compliance Update: RPS, RECs, State Mandated ProcurementsThe New England Power Pool Generation Information System (NEPOOL GIS) issues and tracks REC certificates for all MWh of generation and load produced in the ISO New England control area, as well as imported MWh from adjacent control areas. This session will feature presentations from participating states in NEPOOL GIS re: the history of their states’ renewable portfolio standard (RPS), discussing how RPS works in their states, qualifying resources, and an overview of the application, tracking, and certification management processes. Speakers will then participate in a panel discussion to discuss regional nuances of New England REC markets, tips for compliance, and evaluate the impacts of new and evolving policies on state RPS and REC markets.• Regulation, compliance and policy in• Overview: The New England Power Pool Generation Information System (NEPOOL GIS)• What qualifies for a “renewable energy credit” and “clean energy credit” in NEPOOL states?• Regulation, compliance and policy in NEPOOL GIS• Applying, tracking and certification management processes• Evaluating impacts of new clean energy policies and state mandated procurements in addition to

RPSo Mass. SMART program -another 1500 MW of solaro Offshore windo RGGI getting strongero New York – “Zero Emission Credit” o Impacts on state RPS and REC markets

Christopher Kearns, Chief -Program Development, Rhode Island Office of Energy ResourcesMichael Judge, Director, Renewable and Alternative Energy Division, Massachusetts Department of Energy Resources (invited)

2:15 – 2:30 pm Afternoon Break

2:30 – 3:45 pm Voluntary Renewable Energy Credit (REC) & Green Power Markets • Background, status and trends• Voluntary REC market buyers and players

o Corporations and large organizationso Residential consumers

• Product typeso Selling in regulated and retail marketso Needs and considerations for existing programs

• System administration for voluntary RECs• C&I REC market and purchase process

o Tracking systems• Technicalities of key processes in the voluntary REC market

o Typical processes and interactionso Certification and eligibilityo Purchase process for commercial/residentialo Bundled RECs in power purchase agreements

- Certifying long-term contracts- Direct certification

Michael Leschke, Green-e Verification Manager and Senior Analyst, Center for Resource Solutions (CRS)

RENEWABLE ENERGY MARKETS SYMPOSIUM 2019June 5-6 2019 | Providence, RI

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WEDNESDAY, JUNE 5, 2019 (CONTINUED)

3:45 – 4:30 pm Corporate Procurement: Voluntary Market Trends & Transactions for Corporate Renewable PPAsThis session will discuss growing national trends in corporate and industrial renewable energy procurement, and how these projects are driving demand for clean energy and growing voluntary renewable markets across the country. The session will also address specifics of negotiation of renewable power purchase agreements (PPAs) associated with these projects, discussing considerations from both the buyer and seller perspective, and tips to optimize the purchase and sale of a project’s associated environmental attributes. Joshua Belcher, Of Counsel, Eversheds Sutherland

4:30 – 5:15 pm REC Transactions & Trading Fundamentals • Identify REC market players (buyers, sellers, brokers, traders)• Technicalities of a REC transaction process

o Successful transaction mechanismso Trade executiono Structured transactions

• Day in the life of a REC market participanto Trading RECs in voluntary and compliance marketso Volume of RECso Value of transactionso Types of transactions

Jack Velasquez, Senior Vice President – Environmental Markets, Marex SpectronPatrick McFadden, Environmental Products Broker, Marex Spectron

THURSDAY, JUNE 6, 2019

8:00 — 8:30 am Continental Breakfast

8:30 – 10:00 am Mock REC Trading Exercise• Role-play as a REC market buyer (seller, buyer, trader)• Market dynamic exercises with mock injections of market forces• Practice buying, selling and tradingJack Velasquez, Senior Vice President – Environmental Markets, Marex SpectronPatrick McFadden, Environmental Products Broker, Marex Spectron

10:00 – 10:15 am Morning Break

10:15 – 11:45 am REC Project Finance & Contract Options• Piecing together a financial package for RECs• Project finance through REC transactions

o Selling long-term REC obligationso Hedging forward REC compliance needs

• Debt and equityo Contracts to sell RECso Different types of REC contractso Structuring long-term REC contractso REC contract implications on financing

• Contract/transaction case-studiesJames Duffy, Partner, Nixon Peabody LLPTony Grappone, Partner, Novogradac & Company LLCBethany Bartlett, Partner, Sherin and Lodgen LLPAndrew Bernstein, Managing Partner, Kearsarge Energy LP

AGENDA

RENEWABLE ENERGY MARKETS SYMPOSIUM 2019June 5-6 2019 | Providence, RI

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INSTRUCTIONAL METHODSPowerPoint presentations and case studies will be used in program.

REQUIREMENTS FOR SUCCESSFUL COMPLETIONParticipants must sign in/out each day and be in attendance for the entirety of the course to be eligible for continuing education credit.

IACET CREDITSEUCI has been accredited as an Authorized Provider by the International Association for Continuing Education and Training (IACET). In obtaining this accreditation, EUCI has demonstrated that it complies with the AN-SI/IACET Standard which is recognized internationally as a standard of good practice. As a result of their Au-thorized Provider status, EUCI is authorized to offer IACET CEUs for its programs that qualify under the AN-SI/IACET Standard. EUCI is authorized by IACET to offer 1.0 CEUs for the symposium

CPE CREDITSEUCI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

Upon successful completion of this event, program participants interested in receiving CPE credits will receive a certificate of completion. EUCI is authorized by CPE to offer 12 credits for this course. There is no prerequisite for this course. Program Level 1: Beginner and Intermediate, Delivery Method: Group-Live, Advanced Preparation: None

EVENT LOCATIONA room block has been reserved at the Hilton Providence, 21 Atwells Ave, Providence, RI 02903, for the nights of June 4-5, 2019. Room rates are $209 plus applicable tax. Call 1-401-831-3900 for reservations and mention the EUCI event to get the group rate. The cutoff date to receive the group rate is May 15, 2019 but as there are a limited number of rooms available at this rate, the room block may close sooner. Please make your reservations early.

REGISTER 3, SEND THE 4TH FREEAny organization wishing to send multiple attendees to these symposiums may send 1 FREE for every 3 delegates registered. Please note that all registrations must be made at the same time to qualify.

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PLEASE SELECT

A room block has been reserved at the Hilton Providence, 21 Atwells Ave, Providence, RI 02903, for the nights of June 4-5, 2019. Room rates are $209 plus applicable tax. Call 1-401-831-3900 for reservations and mention the EUCI event to get the group rate. The cutoff date to receive the group rate is May 15, 2019 but as there are a limited number of rooms available at this rate, the room block may close sooner. Please make your reservations early.

Substitutions & CancellationsYour registration may be transferred to a member of your organization up to 24 hours in advance of the event. Cancellations must be received on or before May 3, 2019 in order to be refunded and will be subject to a US $195.00 processing fee per registrant. No refunds will be made after this date. Cancellations received after this date will create a credit of the tuition (less processing fee) good toward any other EUCI event. This credit will be good for six months from the cancellation date. In the event of non-attendance, all registration fees will be forfeited. In case of conference cancellation, EUCI’s liability is limited to refund of the event registration fee only. For more information regarding administrative policies, such as complaints and refunds, please contact our offices at (201) 871-0474.

EVENT LOCATION

RENEWABLE ENERGY MARKETS SYMPOSIUM 2019JUNE 5-6, 2019: US $1395Early bird on or before May 17, 2019: US $1195

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