Afterseeing losses the week prior, solar renewable energy credit marketsin New Jersey swung higher during the first week of April. Energy year 2016SRECs in the state posted at an average of $288.19/MWh, increasing almost $3 onthe week.
NewJersey class I REC prices also climbed during the week ended April 8. NewJersey vintage 2016 class I RECs notched an average at $13.77/MWh, up 23 centsfrom the week prior.
Inthe neighboring Pennsylvania, solar and non-solar REC markets were firm tolower to start the month of April. Pennsylvania vintage 2016 tier I REC pricessaw an index at $13.29/MWh during the period under review, unchanged on theweek. Reporting year 2016 SRECs in the Keystone State notched an average at$16.47/MWh, easing 41 cents week over week.
InMaryland, tier I REC prices were flat to softer during the week ended April 8.Vintage 2015 tier I REC prices posted an index at $12.53/MWh in Maryland again,with vintage 2016 REC values sporting an average at $13.03/MWh, slipping 2cents from the week prior.
seeking to expandMaryland's renewable portfolio standard by mandating 25% of the state'selectricity come from renewable energy sources by 2020 has now passed bothlegislative houses. However, state lawmakers still have to sort out differencesbetween two approved versions before the bill heads to the desk of RepublicanGov. Larry Hogan for consideration.
Passageof the legislation came on the heels of Maryland Gov. Hogan signing into lawthe Greenhouse Gas Emissions Reduction Act on April 4. That bill requiresMaryland to reduce its greenhouse gas emissions 40% below 2006 levels by 2030.
CSAPR NOx emissionsindications ease heading into April
Priceindications for Cross-State Air Pollution Rule NOx emissions markets eased to kickoff the month of April. CSAPR seasonal NOx allowances for 2016 were pegged in abid-and-offer spread of $220 to $280, with offers dropping back from $290 theweek prior. During the week ended April 8, CSAPR annual NOx allowances for 2016were assessed in a bid-and-ask range of $20 to $80, easing on the bid side from$40 the week before.
CSAPR2016 SO2 Group 1 allowances held to a bid-and-ask spread of $1 to $5, whileCSAPR 2016 SO2 Group 2 allowances were pegged again between $2 on the bid sideand $7.50 on the offer end.
TheCSAPR was designed to curb power plant emissions of nitrogen oxide and sulfurdioxide that degrade air quality in downwind states and impede the ability ofthose states to meet standards set for fine particulate matter and ground-levelozone. The CSAPR was also designed to establish a cap-and-trade program forstates to cut power plant pollution.
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