SRECTrade’s December 2012 SREC Auction closed last week. Below are the clearing prices by vintage across the markets covered in the auction.
| December SREC Prices | Energy Year Ending | ||
| State | 2011 | 2012 | 2013* |
| Delaware | – | – | – |
| Maryland | $140.00 | $140.00 | – |
| Massachusetts | – | $206.96 | – |
| New Jersey | – | $82.00 | $85.00 |
| Ohio In-State | – | $35.00 | – |
| Ohio Out-of-State | $8.99 | $8.99 | – |
| Pennsylvania | – | – | $8.99 |
| Washington, DC | $300.00 | $308.61 | – |
Notes:
*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 SRECs available for sale in that vintage or there were no matching bids and offers to determine a clearing price.
For detailed analysis of SREC market prices and trends please subscribe to the SREC Market Monitor, a joint publication of Greentech Media’s GTM Research and SRECTrade.
State Market Observations:
Delaware: No DE SRECs transacted in the December auction. The last auction price for DE2012 SRECs was $40.00 in the September 2012 auction. Most demand for DE SRECs will be through the DE SEU SREC Procurement Program solicitations. More information about these solicitations can be found at srecdelaware.com.
Maryland: MD2012 SRECs increased in price, trading at $140/SREC. The increase in price is a result of the Maryland Energy Administration’s announcement about how the SRECs from the Mount St. Mary’s University 17.4 MW project will be managed.
Massachusetts: MA2012 SRECs traded at $206.96/SREC. SREC issuance volumes in Q1 and Q2 2012 and July – November 2012 MWhs reported to the MA CEC demonstrate that 2012’s requirements have been met. The next SREC issuance for Q3 2012 generation will fall on January 15, 2013. The 2012 market will likely be oversupplied by approximately 50% of this year’s compliance obligation.
New Jersey: NJ2012 and NJ2013 SRECs traded up $12 and $15/SREC, respectively. Yesterday, the NJ Office of Clean Energy announced total installed capacity through November was estimated to be 950 MW, a monthly increase of approximately 31 MW. Monthly install rates continue to surpass RPS requirements.
Ohio: OH2012 Sited SRECs declined to $35/SREC and OH2011 Adjacent and OH2012 Adjacent SRECs traded at $8.99/SREC. Both markets are oversupplied. Most demand for OH Sited SRECs has been fulfilled through long term agreements with large utility scale projects or through long term RFPs with the state’s regulated utilities. Given the current market, it is likely there will be minimal demand for the remaining part of the 2012 compliance year.
Pennsylvania: PA2013 SRECs traded at $8.99/SREC, inline with the November 2012 auction. SREC oversupply continues to impact PA’s market.
Washington, DC: The 2011 and 2012 vintages increased to $300 and $308.61/SREC, respectively. Increases in price may continue as the 2012 market is likely under supplied given the estimated requirements for the 2012 compliance year.
For historical auction pricing please see this link. The next SRECTrade auction closes on Monday, January 7th at 5 p.m. ET and will cover PJM Solar RECs. The next SRECTrade MA SREC auction closes on Tuesday, January 15th at 5 p.m. ET. Click here to sign in and place an order.
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