During the week ended Oct. 18, New Jersey and Pennsylvania nonsolar renewable energy credit prices worked lower due to ongoing tepid market interest.
Furthermore following strength the week prior, New Jersey SREC markets eased. Energy year 2019 SRECs came in at $221.63/MWh, down about 46 cents from the week prior. New Jersey energy year 2018 SRECs posted an index at $223.25/MWh, falling $1 week over week. The 2018 yearly compliance reports were due in New Jersey at the start of October.
In other solar news in New Jersey, during an SREC auction Oct. 16, Atlantic City Electric Co., Jersey Central Power & Light Co., Public Service Electric and Gas Co. and Rockland Electric Co. sold 4,076 New Jersey energy year 2018 SRECs at $215.10/MWh a piece. Additionally, the electric distribution companies also sold 107,627 energy year 2019 SRECs at $219.92/MWh a piece during the sale.
In the wake of recent strength due to a flurry of buying interest, New Jersey class I markets continued to decline during the week under review. Garden State vintage 2018 class I RECs lost 17 cents to an index at $5.93/MWh, while vintage 2019 class I RECs were down 19 cents week over week to an average at $6.16/MWh.
Amidst the downturn in New Jersey class I REC values, Pennsylvania tier I REC prices also extended lower. Pennsylvania vintage 2018 tier I RECs came in at $5.69/MWh, losing 20 cents from the week prior. Pennsylvania vintage 2019 tier I RECs were priced at $5.98/MWh during the week ended Oct. 18, tumbling 36 cents.
Pennsylvania and Maryland solar market prices also worked lower. Pennsylvania reporting year 2019 prices sported an average at $13.13/MWh for the week, down almost $1 from prior assessments, with Maryland 2019 solar values notching an index at $8.56/MWh, stumbling 52 cents from the week before.
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