August 2013 Auction Results

Posted August 16th, 2013 by SRECTrade.

SRECTrade’s August 2013 SREC Auction closed on 8/01/13. Below are the clearing prices by vintage across the markets sold in the auction.

August SREC Prices SREC Vintage Year
State 2011 2012 2013 2014*
Delaware $25.00
Maryland $122.00 $128.00 $133.00
Massachusetts $236.62
New Jersey $116.00 $121.00 $130.00
Ohio In-State $40.00
Ohio Out-of-State $13.00
Pennsylvania $4.01 $5.01 $13.00 $13.00
Washington, DC $480.00 $480.00

*Delaware, New Jersey and Pennsylvania operate on a June-May energy year. For example, current vintage SRECs are generated beginning in June of 2013.
Green text represents a price increase over the last auction clearing price for that vintage, red text represents a decrease. “-” reflects no sale, which would result if there were no SRECs available for sale in that vintage or there were no matching bids and offers to determine a clearing price.

State Market Observations:

Delaware: Current vintage DE SRECs traded at $25/SREC- up from $10 in the previous auction. The DE SREC market is highly illiquid. The primary buyer for DE SRECs is Delmarva Power and Light (DPL). Most SRECs are sold through DPL’s SRECDelaware program, for which SREC asset owners submit competitive applications in order to obtain 20 year SREC contracts. There continues to be some need for SRECs outside of DPL’s program and compliance buyers with a need for DE sited but non-DPL derived demand will decline over time. SRECTrade administers both the DPL spot auction as well as the software behind the the SRECDelaware solicitations.

Maryland: All eligible MD SREC vintages sold in the August auction. As SRECs age they tend to become less valuable and demand for older vintages tends to decrease.  MD2011s, MD2012s and MD2013s  transacted at $122.00, $128.00, and $133.00/SREC in the August auction.

Massachusetts: The August SRECTrade auction sold available 2013 vintage SRECs at $236.62.  This occurred ahead of news on 2012 vintage SRECs deposited in the MA Solar Credit Clearinghouse Auction. For the latest info on the MA market read our MA blog posts.

New Jersey:  NJ2012,  NJ2013, and NJ2014 SRECs traded at $116.00, $121.00, and $130.00/SREC, respectively. Pricing for the 2012 and 2013 vintages represent slight increases from the July auction. This period was the first period in which NJ2014s transacted through our auction.

Ohio: The Ohio Adjacent market tends to mimic the PA SREC market. OH2013 adjacent vintage SRECs traded at $13/SREC, the same price as equivalent vintage SRECs in the PA market. OH2013 Sited SRECs traded at $40 and continues to experience minimal demand.

Pennsylvania: PA2011s, PA2012s, PA2013s, and PA2014s traded at $4.01, $5.01, $13.00 and $13.00/SREC respectively. SREC oversupply has kept pricing low. 

Washington, DC: DC SRECs continues to see high transaction values relative to the $500 SACP. DC2012 and 2013 vintage SRECs traded up to $480.00/SREC. It is expected the market will continue to experience under supply into the 2013 trading year.

For historical auction pricing please see this link. The next SRECTrade auction for all SREC markets closes on Friday, September 6th at 5 p.m. ET. To place an order, login here.

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