Posts Tagged ‘REC’

December 2011 SREC Auction Results

Posted December 2nd, 2011 by SRECTrade.

SRECTrade’s December 2011 SREC Auction has closed. Below are the clearing prices at which SRECs traded this month.

December SREC Prices Energy Year Ending
State 2010 2011 2012*
Delaware $60.00 $60.10
Maryland In-State $210.00
Maryland Out-of-State
Massachusetts $530.00
New Jersey $225.00 $225.00
Ohio In-State $370.00
Ohio Out-of-State $30.00 $30.00
Pennsylvania $20.00 $10.00 $18.00
Washington, DC $176.00 $201.00

*Delaware, New Jersey and Pennsylvania operate on a June-May energy year.
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 matching bids and offers that cleared for a sale in the auction.

State Market Observations:

Please note, all capacity references are from the latest SRECTrade capacity analysis and reference the amount of supply registered as of the end of November. Additional details regarding SREC issuance are provided in the capacity analysis.

Delaware (Supply: 22.8 MW | Demand: 19.5 MW): Legislation increasing the SREC requirement went into effect this past June but the market has yet to pick up in response. The Delaware PSC approved the SREC Procurement Pilot Program for long term contract solicitations. Meanwhile, the SREC market will likely pick up at the end of the energy year when electricity suppliers are more active.

Maryland (In-State Supply: 33.5 MW | Demand: 26.9 MW): SRECs increased 5.0% in value to $210 this past auction period. The state seems on pace to maintain a balanced supply relative to demand for the compliance year. As 2011 comes to an end, a shortage of SRECs in the state, if any, will be reflected by an increase in prices at the end of the trading period in the first quarter of 2012. Out-of-state SRECs continue to be a non-factor in Maryland.

Massachusetts (Operational Supply: 30.9 MW | Demand: 55.7 MW): Mass SREC values declined slightly to $530, from $535, in the December 2011 auction. Volume during this period was lower as most supply traded in the auction post the Q2 2011 issuance on October 17, 2011. The next big quarterly MA SREC auction will close on Monday, January 16, 2012.

New Jersey (Supply: 448 MW | Demand: 368 MW): The 2012 market stayed flat at $225 this trading period. Oversupply continues to grow as the state has averaged 27.1 MW installed per month since the beginning of the compliance period. Estimates for October 2011 are forecast at approximately 44 MW. For a more in depth look at New Jersey’s capacity and SREC issuance see this post.

Ohio (In-State Supply: 27.7 MW  Out-of-State Supply: 61.3 MW | Demand: 37.7 MW) : In-State SRECs dropped 2.5% to $370/SREC. The out-of-state SREC market saw activity, but declined in value from $55/SREC to $30/SREC.

Pennsylvania (Supply: 152.0 MW | Demand 40.4 MW): PA2011 SRECs stayed flat at $10/SREC and PA2012 declined from prior periods to $18/SREC. HB 1508 was recently introduced to address the state’s SREC market. This marks the beginning of a long process to rescue the PA SREC market. Until then, SRECs will continue to bottom out.

Washington, DC (Supply: 21.5 MW | Demand: 41.9 MW): Prices continue to increase as new legislation closing the DC market borders and increasing requirements take effect on the market.

For historical pricing please see this link. The order window for the January 2012 auction will close on Friday, January 6, 2012 at 5:00 p.m Eastern. For more information, please visit

FirstEnergy Closes SREC and REC RFP

Posted November 15th, 2011 by SRECTrade.

FirstEnergy’s Ohio utilities announced the close of its Request for Proposal (RFP) for 10 year SREC and REC contracts. The utility issued the RFP seeking 5,000 Solar Renewable Energy Credits and 20,000 Renewable Energy Credits per year for the compliance periods covering 2011-2020.

The utility noted they were able to successfully fill the requested volumes. The contracted supply will allow FirstEnergy to meet its 2011 RPS requirements including the SRECs not retired under their 2010 compliance obligations. The RFP received submissions from 28 qualified participants offering more than two times the requested SREC volumes and four times the requested REC volumes. Contract pricing was not disclosed.

MA2011 SREC Auction Closes at $535/SREC

Posted October 18th, 2011 by SRECTrade.

The Q2 2011 (April – June 2011) MA SRECs were issued on October 15, 2011. Unlike other SREC markets, the MA Solar Carve-Out program mints SRECs quarterly, three and a half months after the close of the calendar quarter. In coordination with the Q2 2011 issuance, SRECTrade recently held a separate auction for MA2011 SRECs.

The auction closed on Monday, October 17th at 5:00 p.m. Eastern. SRECs transacted at a clearing price of $535.00 per SREC. The clearing price, more than 97% of the 2011 Solar Alternative Compliance Payment (SACP), represents a strong demand for MA2011 SRECs due to a shortfall of supply in the market.

Any SRECs that went unsold in the auction will be available for sale in the next SRECTrade auction closing on Monday, October 31, 2011. This auction will cover all of the SREC markets including DC, DE, MA, MD, NJ, OH, and PA. The order window is currently open. All buyers and self-serve sellers can login here to place an order. Sellers utilizing SRECTrade’s management service, EasyREC, will have orders automatically placed on their behalf. If these sellers need to make changes to their minimum offer prices, they must do so prior to the 5:00 p.m. close on October 31.

The next issuance of MA2011 SRECs will be on January 15, 2012, and will cover the Q3 2011 (July – September) generation period.

Massachusetts SREC Auction Closes October 17th at 5 p.m. Eastern

Posted October 13th, 2011 by SRECTrade.

In coordination with the upcoming Massachusetts Q2 2011 Solar REC issuance, SRECTrade will be hosting an auction for MA2011 SRECs. The auction order window is currently open and closes on Monday, October 17th at 5:00 p.m. Eastern. Auction clearing price results will be published on Wednesday, October 19th on SRECTrade.

Haven’t created an account yet? All self-serve sellers managing their own SRECs can create one here. If you are a buyer and have not yet signed up for an account you can do so here.

All sellers with a managed EasyREC account will have orders automatically placed on their behalf. If managed sellers need to make any changes to their offer prices, they can do so through their online account prior to 5:00 p.m. Eastern on Monday, October 17th.

The next SRECTrade auction covering all Solar Renewable Energy Credit markets (i.e. DC, DE, MD, MA, NJ, OH and PA) will close on Monday, October 31st at 5:00 p.m. Eastern. The order window is currently open. To place orders please login here.