New Jersey solar renewable energy certificate prices were higher during the week ended March 31. Garden State energy year 2017 SRECs came in at $233.00/MWh, up 50 cents, while energy year 2018 SRECs notched an index at $202.50/MWh during the week under review, climbing more than $7 on the week.
New Jersey SREC prices were poised higher despite an abundance of solar supply in the state. A total of 2,062.5 MW of capacity was installed in the state as of Feb. 28, according to figures from the New Jersey Office of Clean Energy.
New Jersey class I REC prices were firm to lower during the week ended March 31. Garden State vintage 2017 class I prices were pegged at $6.50/MWh, down 8 cents week over week. New Jersey vintage 2018 class I RECs saw an average of $6.25/MWh during the week under review, flat from the week before.
Looking at the Ohio markets, solar and nonsolar markets were firm to round out the month. Ohio located RECs for 2017 saw a weekly average at 88 cents/MWh, flat on the week. In-state solar RECs in Ohio came in at $5.88/MWh during the final week of March, also unchanged from the week prior.
Ohio REC prices showed no change even as the Ohio House of Representatives on March 30 overwhelmingly passed a measure to make the state's renewable energy mandate a goal, while weakening and ultimately ending efficiency targets.
The bill allows, rather than requires, renewable energy purchases and directs Ohio energy regulators to adopt rules enabling all utility customers to opt out of any costs utilities incur to procure renewables. That would undercut utilities' current requirement to source 12.5% of their retail electric supplies with renewable energy by 2027, with 0.5% of that from solar. The bill also would lower the state's energy efficiency benchmark to 17.2% electric savings by 2027, from 22.2% currently, and would end the efficiency requirement in 2027.
CSAPR emissions price indications hold flat again
Concluding the month of March, Cross-State air Pollution Rule NOx and SO2 emissions allowances price indications were unmoved.
CSAPR 2017 annual NOx allowances held to a bid-and-ask spread of $3 to $5, while CSAPR 2017 seasonal NOx allowances were unchanged in a bid-and-offer range of $450 to $550.
CSAPR 2017 Group 1 SO2 allowances were assessed again in a bid-and-ask spread of 50 cents to $5, with 2017 Group 2 SO2 allowances also steady between 50 cents and $6.
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