trending Market Intelligence /marketintelligence/en/news-insights/trending/_UUK8P047Nk3DE3KWG4FGw2 content esgSubNav
In This List

Conn., NH renewable energy credit prices lifted again by buying interest

Blog

Insight Weekly: Banks' efficiency push; vacuuming carbon; Big Pharma diversity goals

Blog

Smart thermostats gain traction in US, point to modest electricity savings

Blog

The Future of Risk Management Digitization in Credit Risk Management

Blog

Insight Weekly: Banks pursue deals; offshore wind transmission; UK broadcasters vs. streamers


Conn., NH renewable energy credit prices lifted again by buying interest

Over-the-counter prices for renewable energy credits were mixed during the week ended Oct. 17, as buying interest waned in New Jersey but ramped higher in other markets like New Hampshire and Connecticut.

After rising several dollars the week prior, class I REC prices in Connecticut continued to advance due to active buying. Connecticut vintage 2019 class I RECs increased more than $2 to an index at $38.58/MWh. Connecticut vintage 2020 class I RECs jumped almost $3 in value to an average at $41.88/MWh.

In step with the Connecticut markets, class I RECs in New Hampshire were aimed higher as well during the review week. New Hampshire vintage 2019 class I RECs posted an index at $37.71/MWh, up more than $2.25 week over week. Vintage 2020 class I RECs gained more than $3.25 to an index at $41.08/MWh.

New Hampshire vintage 2019 class III RECs were firm again at $41.75/MWh, but vintage 2020 class III RECs eased 75 cents to an average at $34.25/MWh.

New Hampshire class III REC prices were up sharply several months ago due to an uptick in demand requirements. Class III RECs in New Hampshire include existing biomass systems of 25 MW or less and methane gas, provided the generator began operation before Jan. 1, 2006.

Climbing the week before, solar renewable energy credit markets in the Garden State eased during the week ended Oct. 17. New Jersey market energy year 2019 SRECs were down 8 cents to an index at $231.92/MWh, while energy year 2020 SRECs decreased 9 cents to an average of $234.33/MWh.

Similarly, lackluster activity on the buy side pressed on class I REC markets in New Jersey. Vintage 2019 class I RECs in the state posted an average at $7.04/MWh, down 4 cents week over week. New Jersey vintage 2020 class I RECs were priced at $7.24/MWh, slipping 8 cents from the week before.

Maryland tier I REC markets trended mixed heading into the second half of October. Maryland vintage 2019 tier I RECs lost 5 cents to an index at $7.03/MWh, and vintage 2020 tier I RECs gained 9 cents to an average of $7.29/MWh.

Maryland Gov. Larry Hogan's administration recently issued a draft emissions reduction plan that calls for the state to find a "technology-neutral" way to run 100% on clean electricity by 2040 by building on the state's existing renewable portfolio standard. The draft plan calls for the increased use of hydropower, among other things to help meet the plan.

Maryland's current renewable generation resource goal is 50% by 2030.

SNL Image