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Cross-State Air Pollution Rule emissions allowance prices flat week on week

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Cross-State Air Pollution Rule emissions allowance prices flat week on week

Although bid-and-offer spreads were slightly tighter during the week ended Dec. 8, midpoint prices for emissions allowances under the Cross-State Air Pollution Rule, or CSAPR, were little changed.

Seasonal nitrogen oxide, or NOx, allowances for 2017 were assessed in a bid-and-ask range of $150 to $190 during the period under review, compared to $140 to $200 the week prior.

CSAPR seasonal NOx allowances for 2018 were seen in a bid-and-offer spread of $125 to $180 during the week under review, compared to a range of $115 to $190 a week earlier.

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In May, CSAPR 2017 seasonal NOx prices rallied above $700 after buyers began to hedge ozone season emissions ahead of the peak summer cooling season. But an overall mild summer in many regions of the country, particularly the Northeast, led to tepid interest, which offered pressure to seasonal NOx allowance prices in September and part of October.

Price indications for CSAPR 2017 annual NOx allowances were still pegged in a bid-and ask range of $1 to $3.

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During the week ended Dec. 8, CSAPR 2017 Group 1 sulfur dioxide, or SO2, allowances were firm, marked between 25 cents and $4. Group 2 SO2 allowances for 2017 were also flat in a bid-and-ask range of 25 cents to $5.

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New Jersey solar REC prices slip to kick off December

Following recent strength, prices for solar renewable energy credits in New Jersey eased during the first week of December.

Garden State energy year 2018 SRECs were priced at $206.17/MWh, while energy year 2019 SRECs came in at $202.50/MWh, down 8 cents and $1.25, respectively, on the weekly period.

A Dec. 7 auction held by New Jersey's electric distribution companies saw 48,114 SRECs for energy year 2018 sell at $206.93/each.

New Jersey class I REC markets moved higher to kick off the month of December. Garden State vintage 2018 class I RECs posted an average at $5.18/MWh, up 21 cents on the week.

In the nearby Pennsylvania market, tier I REC prices also rose during the period under review. The vintage 2018 tier I market in the state was marked at an index of $4.91/MWh, up 12 cents week over week.

In Maryland, vintage 2018 tier I REC prices eased 3 cents on the weekly period to an average at $4.67/MWh. Maryland solar REC prices for 2018 were steady at an index of $7.46/MWh during the week ended Dec. 8.

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