Platts to launch emissions-adjusted North American RECs Prices

Platts, part of S&P Global Commodity Insights, will begin publishing Emissions Adjusted Renewable Energy Certificate (EA REC) price assessments, as well as emissions data for REC locations, from Nov. 1.

The assessments will 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.

Alongside the new prices, Platts will begin publishing emissions data for each REC location covered, 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 REC emissions data will be published for prior full year and current year to date.

The latter will be updated monthly based on latest available data.

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

The emissions-adjusted REC values will be published on a $/mtCO2e basis and published alongside Platts' existing REC price assessments.

The emissions-adjusted REC prices will be published for the Prior Year and Current Year, with the latter using year to date emissions data.

In this initial launch, Platts will publish EA RECs for the following instruments, all located within ERCOT:

Emissions Adjusted non-Solar Compliance REC Prior Year Vintage

Emissions Adjusted non-Solar Compliance REC Prior Year Vintage FH

Emissions Adjusted non-Solar Compliance REC Prior Year Vintage BH

Emissions Adjusted non-Solar Compliance REC Current Year Vintage

Emissions Adjusted non-Solar Compliance REC Current Year Vintage FH

Emissions Adjusted non-Solar Compliance REC Current Year Vintage BH

Emissions Adjusted Green-e Eligible Wind REC Current Year Vintage

Emissions Adjusted Green-e Eligible Wind REC Current Year Vintage FH

Emissions Adjusted Green-e Eligible Wind REC Current Year Vintage BH

Emissions Adjusted SREC Prior Year Vintage

Emissions Adjusted SREC Current Year Vintage

Emissions Adjusted Compliance SREC from CRS Listed Facilities Current Year Vintage

Emissions Adjusted Compliance SREC from CRS Listed Facilities Current Year Vintage FH

Emissions Adjusted Compliance SREC from CRS Listed Facilities Current Year Vintage BH

Platts will also publish REsurety's ERCOT carbon abatement value in kg of CO2e/MWh.

Platts intends to launch further EA RECs following the initial launch, and invites feedback on any areas of particular focus.

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

Underlying LME values will be updated on a monthly cadence.

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

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available upon request.