Platts launches additional emissions-adjusted North American REC prices

Platts, part of S&P Global Commodity Insights, has launched additional emissions-adjusted Renewable Energy Certificate (EA REC) price assessments, as well as more emissions data for REC locations, effective May 30,2024.

The assessments are intended to provide market participants with clarity on the value of a REC based on the intensity of greenhouse gas emissions from power generation displaced by renewables production.

Platts initially launched EA RECs for ERCOT on Nov. 2, 2023, and introduced further EA REC assessments for PJM, MISO, CAISO and M-RETs on Jan. 18, 2024. Subscriber notes for the previous launches can be found here:

(https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/110223-platts-launches-emissions-adjusted-north-american-recs-prices)

(https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/011824-platts-launches-further-emissions-adjusted-north-american-recs-prices).

Alongside the new prices, Platts will publish emissions data for each REC location, with information provided by clean energy data-driven solutions provider REsurety.

REsurety calculates locational marginal emissions for nodes across power grids in North America and has aggregated these to match REC contract location areas.

The weekly EA REC price assessments combine Platts existing $/MWh REC price assessments with the emissions data for that REC.

The EA REC values are published on a$/mtCO2e basis and published alongside Platts' existing REC price assessments.

Platts also publishes the corresponding REsurety's carbon abatement value in kg of CO2e/MWh.

REsurety's historical granular LME data and hourly generation modelling provides estimates of the carbon abated in each hour by each project.

Underlying LME values are updated on a monthly cadence.

In this fourth launch, Platts will publish EA RECs for the following instruments:

Maine Class 1 Prior Year Vintage

New Hampshire Class 1 Prior Year Vintage

Vermont Tier 1 Prior Year Vintage

NEPOOL Dual Qual Class 1 Prior Year Vintage

Please submit any feedback, comments or questions to americas_renewables@spglobal.com and pricegroup@spglobal.com.

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