Following gains over the last few weeks, solar renewable energy credit prices in New Jersey continued to climb in value during the week ended Jan. 26. Garden State energy year 2018 SRECs saw an average at $222.75/MWh while energy year 2019 SRECS came in at $219.67/MWh, increasing $7.08 and $2.59, respectively, on the week.
Prices advanced despite a plethora of solar supply in the state. As of Dec. 31, 2017, New Jersey boasted a cumulative total of 2,356.5 MW of installed solar capacity, according to the New Jersey Office of Clean Energy.
In recent weeks, New Jersey SREC prices have been rising ahead of the upcoming Basic Generation Service auction for residential and smaller commercial customers, which will begin Feb. 2. The Basic Generation Service auction allows New Jersey's four electric distribution companies to procure electricity supply to serve their basic generation service customers for a three-year period.
The auction consists of two separate descending clock auctions that are held concurrently, one for residential and smaller commercial customers on a fixed plan and one for larger customers on an hourly price plan. The residential auction product includes both energy and capacity (and any other service required by PJM) at a fixed price, while the product for larger customers, known as the Commercial and Industrial Energy Price, includes fixed price capacity and variable price energy.
Meantime, during the week ended Jan. 26, New Jersey class I REC prices were firm to lower. New Jersey vintage 2018 class I REC prices were unchanged at an average at $6.50/MWh while vintage 2019 class I RECs came in at an index of $6.78/MWh, easing 5 cents week over week.
To the north in Connecticut, class I REC markets was also varied during the final week of January. Vintage 2017 class I RECs in the state posted at an average at $12.17/MWh, losing $1.29 from the prior week. Connecticut vintage 2018 class I RECs rose 50 cents to an index at $25.00/MWh.
In lockstep with the Connecticut market Massachusetts vintage 2017 class I RECs were also down $1.29 on the week to an average at $12.17/MWh. The Massachusetts vintage 2018 class I market was priced at an index of $25.17/MWh, rising 54 cents on the week.

CSAPR 2018 seasonal, annual NOx emissions allowances edge higher
During the week ended Jan. 26, Cross-State Air Pollution Rule seasonal and annual nitrogen oxide emissions allowance price indications moved higher.
The CSAPR 2018 seasonal NOx allowance market were assessed in a bid-and-offer spread of $140 to $200, up from a range of $135 to $200 a week earlier.

CSAPR 2017 annual NOX allowances held to a bid-and-ask range of $1 to $3.

CSAPR Group 1 sulfur dioxide, or SO2, allowances remained in a bid-and-offer spread of 25 cents to $4, while CSAPR Group 2 SO2 allowances held to a bid-and-ask range of 25 cents to $5 during the week under review.
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