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In This List

US seasonal NOx emissions price indications slide

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US seasonal NOx emissions price indications slide

Price indications for Cross-State Air Pollution Rule emissions were steady to lower as the month of January drew to a close.

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CSAPR 2017 seasonal NOx allowances were assessed in a bid-and-offer range of $375 to $550, down from a level from $400 to $650 the week prior. The CSAPR 2017 annual NOx allowance market was firm during the week ended Jan. 27, marked in a bid-and-ask spread again of $3 to $7.

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CSAPR SO2 Group 1 and Group 2 allowances for 2016 once again held to a wide bid-and-offer level between 50 cents and $10 to round out the first month of the year.

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New Jersey solar REC prices renew upswing

After tumbling more than $25 in value the week before, New Jersey solar renewable energy credit prices during the week ended Jan. 27 climbed. Energy year 2017 SRECs in the Garden State posted an index at $244.38/MWh, increasing almost $7 on the week. New Jersey energy year 2018 SRECs rose more than $3 in value from the week before to an average at $221.88/MWh.

New Jersey SREC prices were aimed higher again despite a backdrop of ample supply in the state. The latest figures from the New Jersey Office of Clean Energy indicated that as of Dec. 31, 2016, a total of 2,002.99 MW of solar capacity was installed in the state during the month, up more than 65 MW from the end of November 2016.

Farther north, as of the week ended Jan. 27, the 2016 Massachusetts SREC-II market was priced at $274.63/MWh, increasing $1.25 week over week, with the 2017 SREC-II market pegged at $276.25/MWh, losing 63 cents from the week prior.

The 2016 SREC-II market in Massachusetts remains oversupplied, analysts said.

"Given an oversupply from 2015 of 66,372 SRECs, plus the 441,890 SRECs issued in Q1, Q2 and Q3 of 2016 (Q3 generation was 190,526), we are left with a total of 508,262 SRECs already created," according to a recent post from SRECTrade. "That alone leaves the market 49% over the exempt-load obligation for 2016. Using the trailing twelve month average for new capacity added per month, we add another 143,887 SRECs as an estimate of Q4 production to bring us to a grand total of 652,149 SRECs created in 2016. This represents a 312,069 SREC oversupply, or approximately 92% of the 2016 compliance obligation."

Meanwhile, the Massachusetts Department of Energy Resources, or DOER, will hold a briefing Jan. 31, at which time it will introduce the final proposal for the design of the state's next generation incentive program. This proposal will be used by DOER as the framework for the regulation to implement the program, which DOER plans to file in the coming weeks.

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Market prices and included industry data are current as of the time of publication and are subject to change. For more detailed market data, including power and natural gas index prices, as well as forwards and futures, visit our Commodities Pages.