40 months in the making, but the NAESB Version 4.0 Wholesale Electric Quadrant (WEQ) standards have been filed with FERC with some new standards that are designed to help grid operators use wholesale markets to manage the energy transition (WEQ-025) and Green Buyers acquire voluntary REC's NAESB Base Contract for Sale and Purchase of Voluntary Renewable Energy Certificates (“NAESB REC Contract”). Synergies must exist between capacity markets, that secure grid services capacity, and grid operations which relies on the grid services acquired in a capacity market to maintain a reliable electric grid each hour of the operating year at all locations under all weather conditions.Â
This is a significant update to the NAESB Wholesale Electric Quadrant standards that come at an inflection point with the energy transition in full throttle. These standards will enable seamless integration of Distributed Energy Resources (DER) into wholesale markets and give wholesale markets the ability to embrace Green Buyers and States that aim to achieve sustainability and decarbonization energy goals.
Congratulations, once again to the NAESB staff and entire organization for their ability to bring the industry together to create the practical and achievable standards that will help guide us through the energy transition, created in "record time" for an ANSI Standards Development Organization serving the energy industry.
Thank you, NAESB and all of the volunteers that make the organization so successful.