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CSAPR 2016 seasonal NOx prices resume downslide

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CSAPR 2016 seasonal NOx prices resume downslide

2016 seasonal NOx allowance price indications under theCross-State Air Pollution Rule eased during the week ended Oct. 7, marked in abid-and-offer range of $275 to $350, dropping back from a level of $300 to $360the week before. Amid a flurry of buying several weeks ago, seasonal NOx pricesfor 2016 had rallied, inching toward the $400 level, but values are likely tocontinue to lose some ground in the weeks ahead.

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According to broker data, during the first week of October,CSAPR seasonal NOx prices for 2017 held to a wide bid-and-offer spread of $600to $1,700 again during the weekly period under review.

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CSAPR annual 2016 NOx allowances remained in a bid-and-askrange of $4 to $10, showing no change from the final week of September. CSAPRSO2 Group 1 allowances for 2016 were unchanged as well, marked again in abid-and-offer spread of 50 cents to $3, while CSAPR SO2 Group 2 allowances werealso firm, pegged between $1 and $6 during the week under review.

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NJ solar REC pricescontinue to droop

Following recent gains, New Jersey solar renewable energycredit pricesstumbled to kick off the month of October. New Jersey energy year 2016 SRECsunwound more than $10 in value on the week to post an average at $262.50/MWh duringthe week under review. Energy year 2017 SRECs in the Garden State saw an indexat $252.50/MWh, losing more than $6 week over week.

All in all, the supply of solar power in New Jersey remainsample. According to recent figures from the New Jersey Office of Clean Energy,as of Aug. 31, a total of 1,871.9 MW of solar capacity was installed in thestate, up 139.7 MW from the end of May.

In line with recent softness, class I REC prices in NewJersey continued to lose ground during the week ended Oct. 7. New Jerseyvintage 2016 class I RECs notched an index at $10.28/MWh, easing 23 cents froma week ago. New Jersey vintage 2017 class I RECs were eyed at an average of$10.78/MWh during the first week of October, down 45 cents from a week earlier.

In the neighboring state of Connecticut class I REC priceswere aimed lower during the first week of October. Vintage 2016 class I RECs inthe state came in at $28.25/MWh, declining 35 cents on the week, while vintage2017 class I RECs saw an average at $32.75/MWh during the week ended Oct. 7,down 13 cents from the final week of September.

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SNL Energy is anoffering of S&P Global Market Intelligence. Market prices and includedindustry data are current as of the time of publication and are subject tochange. For more detailed market data, including power,naturalgas, and coalindex prices, as well as forwardsand futures,visit our Commodities Pages.