trending Market Intelligence /marketintelligence/en/news-insights/trending/Vqk0V2gC7rnIPSA37y6Rsg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Solar renewable energy credit markets in NJ climb again

Essential Energy Insights - September, 2020

Bull market leaves US utilities behind in August

Rate case activity slips, COVID-19 proceedings remain at the forefront in August

Utilities, midstream reckon with energy transformation on the horizon


Solar renewable energy credit markets in NJ climb again

Solar renewable energy credit markets in New Jersey continued to climb during the week ended June 9.

After rising more than $10 the week prior, energy year 2017 SRECs in New Jersey continued to gain ground, posting an average at $242.92/MWh, rising $9 on the week. Garden State energy year 2018 SRECs came in at $190.00/MWh, advancing almost $9 week over week.

New Jersey class I REC prices eased during the week under review. New Jersey vintage 2017 class I RECs were pegged at $5.51/MWh, down 21 cents from the week prior. New Jersey vintage 2018 class I RECs declined almost 25 cents week over week to an average at $5.98/MWh.

In Massachusetts, the 2017 solar I market was assessed at an index of $323.13/MWh, gaining more than $7 on the week, while the 2017 solar II market was pegged at an average at $282.38/MWh, increasing more than $2 week over week.

On June 5, the Massachusetts Department of Energy Resources filed an emergency regulation to implement its new solar program known as the Solar Massachusetts Renewable Target, or SMART, that seeks to spur the development of another 1,600 MW of solar energy within the state, starting in 2018.

The SMART program will eventually succeed the current SREC-II program and will offer a transitional mechanism to accommodate the completion of SREC-II while awaiting full implementation of SMART. The program will drop tradable solar energy certificates that fluctuate in price in favor of fixed electric distribution company tariffs to compensate eligible projects under long-term contracts. The distribution companies will pay for both the energy value and the solar incentive under a fixed price for 10 or 20 years, depending on the size of the projects.

SMART will use a declining block mechanism to procure the solar generation at an initial rate for projects larger than 1 MW that will be set by a competitive request for proposals slated for Oct. 3 and initial rates set by DOER for projects 1 MW or smaller. Subsequently, 200-MW blocks of capacity will be procured at rates that decline by 4% for each block. The maximum size for any project is 5 MW.

Elsewhere, class I REC prices in New Hampshire rebounded following recent weakness. As of the week ended June 9, New Hampshire class I RECs for 2017 saw an index at $20.00/MWh, up $4 on the week. Class II RECs in New Hampshire for 2017, which include solar generation, came in at $44.50/MWh during the week under review.

Market sources attributed a steep decline in New Hampshire REC prices in recent months to ample supply and a drop in demand.

Legislation, Senate Bill 129, recently passed in the New Hampshire House and is designed to make changes to the state's RPS, increasing the class II requirements from 0.3% this year to 0.5% in 2018, 0.6% in 2019 and 0.7% in 2020. The bill now heads to the governor for his signature.

SNL Image

Cross-State Air Pollution Rule emissions market indications see no change

Cross-State Air Pollution Rule emissions allowance price indications were steady during the week ended June 9.

SNL Image

CSAPR 2017 seasonal NOx allowances were assessed in a bid-and-offer spread of $650 to $750 once again, after peaking mid-May near $750, sparked by increased demand with the start of the ozone season. The U.S. Environmental Protection Agency in September 2016 finalized an update to the CSAPR Seasonal NOx program, which trimmed the seasonal NOx allocations by more than 40% starting this May.

SNL Image

CSAPR 2018 seasonal NOx allowances were also steady in bid-and-ask range of $225 to $275 during the week under review. CSAPR annual NOx allowances for 2017 were assessed flat as well, at a level of $2.50 on the bid side to $4.00 on the offer end.

SNL Image

Market prices and included industry data are current as of the time of publication and are subject to change. For more detailed market data, including power and natural gas index prices, as well as forwards and futures, visit our Commodities pages.