Platts launches emissions-adjusted North American RECs Prices

Platts, part of S&P Global Commodity Insights, has begun publishing Emissions Adjusted Renewable Energy Certificate (EA REC) price assessments, as well as emissions data for REC locations, effective Nov. 2.

The assessments will provide market participants with clarity on the value of an 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.

Platts announced the decision to launch these assessments on Sept. 18, 2023, available here.

REsurety calculates Locational Marginal Emissions for nodes across power grids in North America, and has aggregated these to match REC contract location areas. Platts will publish LME values which will be referenced as Abatement Values.

The REC emissions data are published for prior full year and current year to date.

The latter are updated monthly based on latest available data.

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

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

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

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

Platts is also publishing REsurety's ERCOT LME, or abatement value in kg of CO2e/MWh.

All EA REC assessments and abatement values will be published in Megawatt Daily and Platts Connect.

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.

Please submit any feedback, comments or questions to global_renewables@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.