Platts to launch additional emissions-adjusted North American REC prices

Platts, part of S&P Global Commodity Insights, will begin publishing more emissions-adjusted Renewable Energy Certificate (EA REC) price assessments, as well as more emissions data for REC locations, from Jan. 18, 2024.

These will be published in addition to the existing EA RECs, all located within ERCOT.

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

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

The EA REC prices will be published for the prior year and current year, with the latter using year to date emissions data.

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

CAISO California Bundled REC Bucket 1 Current Year Vintage

CAISO California Bundled REC Bucket 1 Prior Year Vintage

CAISO California Bundled REC Bucket 2 Current Year Vintage

CAISO California Bundled REC Bucket 2 Prior Year Vintage

CAISO California Bundled REC Bucket 3 Current Year Vintage

CAISO California Bundled REC Bucket 3 Prior Year Vintage

M-RETS Emissions Adj Compliance REC from CRS Listed Facilities Curr Year VTG FH

MISO Michigan non-Solar REC Current Year Vintage

MISO Michigan non-Solar REC Prior Year Vintage

PJM DC REC Tier 1 Current Year Vintage

PJM DC REC Tier 1 Prior Year Vintage

PJM DC SREC Current Year Vintage

PJM DC SREC Prior Year Vintage

PJM Delaware REC Class 2 Current Year Vintage

PJM Delaware REC Tier 1 Current Year Vintage

PJM Delaware REC Tier 1 Prior Year Vintage

PJM Delaware SREC Class 1 Current Year Vintage

PJM Delaware SREC Class 1 Prior Year Vintage

PJM Maryland REC Tier 1 Current Year Vintage

PJM Maryland REC Tier 1 Non Black Liquor Current Year Vintage

PJM Maryland REC Tier 1 Prior Year Vintage

PJM Maryland SREC Current Year Vintage

PJM Maryland SREC Prior Year Vintage

PJM New Jersey REC Class 1 Current Year Vintage

PJM New Jersey REC Class 1 Prior Year Vintage

PJM New Jersey SREC Current Year Vintage

PJM New Jersey SREC Prior Year Vintage

PJM Ohio SREC Current Year Vintage

PJM Ohio SREC Prior Year Vintage

PJM Ohio non-Solar REC Current Year Vintage

PJM Ohio non-Solar REC Prior Year Vintage

PJM PJM Tri-Qualified REC Tier 1 Current Year Vintage

PJM PJM Tri-Qualified REC Tier 1 Prior Year Vintage

PJM Pennsylvania AEC Class 1 Current Year Vintage

PJM Pennsylvania AEC Class 1 Prior Year Vintage

PJM Pennsylvania In-State SAEC Current Year Vintage

PJM Pennsylvania In-State SAEC Prior Year Vintage

PJM Pennsylvania SAEC Current Year Vintage

PJM Pennsylvania SAEC Prior Year Vintage

PJM Virginia In-State non-Solar REC Current Year Vintage

PJM Virginia non-Solar REC Current Year Vintage

PJM Virginia non-Solar REC Prior Year Vintage

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

Platts invites feedback on any areas of particular focus.

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 will be updated on a monthly cadence.

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