updated 2026-10-22
Contract market (renewable capacity contract scheme)
REC contract market
A government-run market where renewable electricity is bought and sold through arrangements such as long-term fixed-price contracts. Who must buy is set by enforcement decree and public notice.
The amended act lets the minister run a 'renewable capacity contract market' including long-term fixed-price contracts, and announce total and per-source capacity to procure. The government describes it as folding RPS into a single long-term fixed-price contract market.
How to read it: 'contract market' has two meanings. Today KPX's 'REC contract market' is where generators and obligated suppliers trade RECs under long-term deals; the 2027 scheme is the government contracting for capacity. Who buys is left to decrees and notices.