Platts to unbundle RECs from ERCOT short-term wind and solar PPA assessments; clarifies long-term solar to remain bundled

Platts, part of S&P Global Energy, will unbundle Renewable Energy Certificates from its short-term wind and solar ERCOT PPA assessments, effective April 1, 2026.

Platts first proposed this change through a subscriber note published on March 18, 2026, available here.

This decision follows market feedback and REsurety CleanTrade data showing that post-build wind and solar projects tend to be transacted without RECs. Platts has reflected energy and RECs together - bundled - in these assessments since launch, but this decision will change that approach by reflecting only energy - unbundled - in the final assessment for short-term PPAs. Platts will normalize all short-term wind and solar PPA data to this standard for assessment purposes.

The decision to change to unbundled will impact the following daily assessments and monthly averages:

Platts defines short-term PPAs as those with a tenor of 12-60 months. Platts also wishes to clarify that on the first of each month, the short-term contract rolls forward to the front month. Likewise, on Jan. 1, the long-term contracts roll forward to the following year. For example, on Jan. 1, 2027, Platts will start assessing tenors from January 2028.

Platts also clarifies that its ERCOT long-term solar assessments have been consistently assessed as bundled products and will continue to remain bundled under the current methodology:

The daily assessments are found on the alert page CLE0006, and the monthly averages are available on CLE0007. These assessments also appear in the North American PPAs publication.

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