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

Platts, part of S&P Global Energy, has unbundled Renewable Energy Certificates (RECs) from its short-term wind and solar Power Purchase Agreement (PPA) price assessments, effective April 1, 2026.

This was first proposed in a subscriber note on March 18, 2026, and the decision was published in a subscriber note on March 24, 2026.

This update follows market feedback and REsurety CleanTrade data showing that post-build wind and solar projects tend to be transacted without RECs. Platts previously reflected energy and RECs together -- bundled -- in these assessments, but now reflects only energy -- unbundled -- in the final assessment for short-term PPAs. Platts normalizes all short-term wind and solar PPA data to this standard for assessment purposes.

The impacted daily assessments and monthly averages are as follows:

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 has also clarified that its ERCOT long-term solar assessments have been consistently assessed as bundled products and 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.

Please send any questions or comments to powerpricing@spglobal.com and pricegroup@spglobal.com .

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