A one time spot auction for existing Delaware SRECs will be held on the SRECDelaware platform from May 15th to May 22nd. The Spot Auction will allow owners of existing SRECs generated from June, 2009 until today to bid to sell their SRECs.
Summary
- The auction will cover only existing, already generated SRECs.
- Delmarva Power anticipates purchasing between 2,000 and 6,000 SRECs in this auction.
- Bidders will place bids by creating an account at SRECDelaware.com or using their existing SRECDelaware.com account.
- Bidding window is open from May 15th at 8:00 AM EST until May 22nd at 5:00 PM EST.
- All bids will be evaluated on price only and winning bidders will receive their bid price.
- Systems which won contracts in the SREC Procurement Program can still participate if they have excess SRECs not covered by their contract.
Spot Auction Details
Delmarva Power anticipates purchasing between 2,000 and 6,000 SRECs in this auction. Any existing SREC produced on or after June, 2009 are eligible. All bids will be evaluated solely on price with no additional credit provided for Delaware labor or equipment. All winning bidders will be paid based on their bid price. Winning bidders will have an 8% commission deducted from their final payment. Bid prices will remain confidential prior to the auction close.
Bids can be entered at www.SRECDelaware.com from 8:00 AM on May 15th until May 22nd at 5:00 PM EST. Customers who previously bid in one of the Delaware Procurement Programs can use their existing SRECDelaware login to participate. New participants can create a free SRECDelaware account in order to place their bids. Each SREC can be bid at a separate price if desired.
All SRECs entered into the auction must be transferred to the SRECDelaware PJM-GATS account prior to May 22nd at 5:00 PM EST. Failure to transfer the SRECs prior to the auction close will invalidate the bid. All non-winning SRECs will be returned to the bidders PJM-GATS account after the auction close. Payments for winning SRECs will be deposited directly to the winning bidder’s bank account via ACH.
Owner representatives can enter bids for their clients. If they chose to do so, they must ensure the transfer of the SRECs bid to the SRECDelaware PJM-GATS account prior to the auction close.
Winners of the 2013 SREC Procurement Program are reminded that their contracts do not include any SRECs generated prior to June, 2013. These system owners are allowed to bid their existing SRECs in this Auction. Any winners of the 2012 SREC Procurement Program with existing SRECs in excess of their contract that they wish to enter into this auction should contact srecdelaware@srectrade.com to process their bid.
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