Bioenergy

Mass. RECs Available at Upcoming Auction

REC brokerage company Evolution Markets will conduct an auction of renewable energy certificates (RECs) on behalf of the Massachusetts Technology Collaborative (MTC) on October 19.

The MTC plans to offer 2,807 Massachusetts “New” Renewable Certificates, 1,832 generated in the first quarter of 2005 and 975 generated in the second quarter of 2005. The certificates are from the Ameresco Chicopee landfill gas-to-energy facilities 1, 2, and 3, which have been approved by the Massachusetts Department of Energy Resources as an eligible source under the Massachusetts Renewable Portfolio Standard. The auction marks the third such REC sale by the MTC, a state agency managing the Massachusetts Renewable Energy Trust. Previous auctions by the MTC have raised more than $400,000. Evolution Markets administered two previous auctions for the MTC involving RECs from the Chicopee facility. An auction in February 2005 sold 5,011 RECs at an average price of $51.12. A second auction in April 2005 sold 3,047 RECs at an average price of $51.32. “Previous auctions by the MTC have been successful in not only raising funds for future development of renewable energy resources in Massachusetts, but they have provided much needed supply to the state’s compliance REC market,” said Andrew Kolchins, Director, Environmental Markets at Evolution Markets. “We anticipate this auction will again benefit from continued demand for Massachusetts RECs.” MTC administers the state’s Renewable Energy Trust, which promotes clean energy technologies. The Chicopee landfill gas-to-energy project that generated the certificates was developed with funding from the Industry Support Program under the Renewable Energy Trust. Under the Massachusetts program, the MTC provides financing to help develop renewable energy in the state. The agency receives a portion of the renewable certificates generated by these projects, which are then sold to generate additional revenue for development. Bidders interested in participating are required to submit bids to Evolution Markets via telephone prior to 2:00 p.m. EST on October 19, 2005. Bids are binding until 5:00 p.m. EST on the bid due date. Once a bid or bids have been accepted by MTC, Evolution Markets will inform the successful bidders, issue transaction confirmations, and then announce the auction results to the market.