SECTION 1. Section 11F of Chapter 25A of the general laws is hereby amended by adding the following subsection:-
(j) The department of public utilities shall continue to allow each distribution company, as defined in section 1 of chapter 164 of the General Laws, to recover through default service rates the costs of compliance with the renewable energy portfolio standard requirements under this section, including, without limitation, the cost incurred for purchase of solar renewable energy certificates (SRECs) in any clearinghouse auction established by the department of energy resources for the sale of SRECs deposited in such auction. In the event that there are unsold SRECs remaining at the final stage of such an auction held in a given year, each distribution company shall be required to purchase a percentage share of the remaining deposited SRECs equal to its percentage share of the prior year’s renewable energy portfolio standard compliance obligation of all of the distribution companies. The price per SREC applicable to such remainder purchase shall be the same as the fixed price applicable to SRECs offered in the auction, provided that, if announced by January 15 of such year, the department of energy resources may in its discretion establish a remainder purchase price at a discounted amount no less than ninety percent of such fixed price.
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