Evolution Markets Completes Large REC Auction

Evolution Markets Inc. has announced the results of an auction of renewable energy certificates (RECs) for the Massachusetts Technology Collaborative (MTC). MTC, a public economic development agency that manages the state’s Renewable Energy Trust, sold all of the Massachusetts “New” Renewable Certificates and Connecticut “Class 1” Renewable Certificates on auction for a price of $54.00 and $52.00, respectively.

The MTC auction, which was administered by brokers Evolution Markets, sold 4,351 Massachusetts “New” Renewable Certificates generated in the first, second, and third quarters of 2007. The auction also sold 669 Connecticut Class I Renewable Certificates generated in the first, second, and third quarters of 2007. MTC offered the 5,020 RECs in two lots, one each for the Massachusetts and Connecticut certificates. Total proceeds from the auction are $269,742.
 
“The market was looking to this auction for solid price signals on how Massachusetts and Connecticut RECs might trade in 2008, and they got it,” said Andrew Kolchins, director of Renewable Energy Markets. “Judging by the MTC auction results, the price remains strong. The $54 price for the Massachusetts vintage 2007 RECs and the $52.00 for the vintage 2007 Connecticut RECs were relatively close to the alternative compliance payments of $57.12 and $55.00, respectively.”

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