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This paper optimizes the electricity and renewable energy credit (REC) purchasing process for energy distribution.Electricity is traded in deregulated time-sequential markets at fluctuating prices.Optimal electricity purchasing under price and demand uncertainty is a challenging task for electricity distributors,and the recently implemented renewable portfolio standards (RPS) further complicate the purchasing process.Government regulatory decisions concerning the RPS require distributors to purchase corresponding certificates,namely RECs,equivalent to a certain percentage of their electricity sales.This paper formulates and optimizes the joint purchasing process for electricity and RECs.It also analyzes the effect of RPS policy on electricity distributors.