The Renewable Energy Buyers Alliance (REBA) has released its Buyers’ Principles on Wholesale Market Design to accelerate the energy transition.
The principles have been issued in support of instituting and improving organised wholesale markets in all regions of the US.
The Principles highlight critical design components necessary to reduce energy costs for all customers, improve the reliability of the power grid, drive innovation, and provide energy customers more options to meet ambitious clean energy goals.
The ten principles are based on three themes:
- Unlock wholesale market competition to catalyse clean energy by ensuring a level playing field, large energy buyer participation, and services that provide actual value for energy customers.
- Safeguard market integrity through independent and responsive governance structures, transparency, and broad stakeholder engagement and representation.
- Design to scale to the future by ensuring operational scale, customer-oriented options to meet decarbonisation goals, alignment with federal and state public policy, and predictable investment decisions.
The announcement comes at a time energy buyers from across the commercial and industrial sector are setting increasingly ambitious energy goals to power their facilities and operations with zero carbon energy.
Miranda Ballentine, CEO, REBA, said: “REBA’s vision is that every organisation has a viable, expedient, and cost-effective pathway to renewable energy.
“Large energy buyers have coalesced to use their collective voice to accelerate decarbonisation of the power sector and create significant cost, societal, and economic benefits for all energy customers.”
Rob Threlkeld, global manager of sustainable energy, supply & reliability at General Motors, and vice-chair of REBA’s board of directors, adds: “Wholesale markets support GM’s overall commitment to protecting the environment by providing a platform that hastens the deployment and procurement of cost-effective clean energy as we pursue our vision of an all-electric, zero-emissions future.
“We are committed to using our scale and resources to grow clean energy demand and availability in support of our accelerated renewable energy commitment to power 100 percent of our U.S. facilities with renewables by 2030 and global facilities by 2040. The Buyers Wholesale Market Design Principles showcase how to optimise energy markets so that all customers can effectively pursue ambitious clean energy goals that improve air quality and address climate change.”
To view the full outline of Organised Wholesale Market Principles, visit rebuyers.org.