Evolution Markets to Host REC Auction for New England

Evolution Markets Inc. announced that it will conduct an auction of Renewable Energy Certificates (RECs) on behalf of the Massachusetts Renewable Energy Trust (MRET), which is administered by the Massachusetts Technology Collaborative, a quasi-public economic development agency.

The auction slated for April 22, 2008, includes a combination of current year RECs from a variety of renewable energy sources in Massachusetts. This auction will include the sale of RECs from facilities eligible under the Massachusetts, Connecticut and Rhode Island Renewable Portfolio Standards.

MRET plans to offer 11,668 Vintage 2008 Massachusetts Renewable Certificates, 2,596 Vintage 2008 Connecticut Class I Renewable Certificates, 1,714 Vintage 2008 Rhode Island  or Connecticut Class I Renewable Certificates, 1,854 Vintage 2008 Rhode Island or Connecticut Class II Renewable Certificates.

“This auction will feature the sale of RECs eligible for use in the Massachusetts, Connecticut and Rhode Island renewable portfolio standards, making it the most diverse auction yet by MRET,” said Andrew Kolchins, director of Renewable Energy Markets at Emerging Markets. “The auction will therefore provide vital price transparency in all three jurisdictions. Combined with the unprecedented volatility in New England REC markets since the last MRET auction in October 2008, we anticipate there will be considerable interest from market participant.”

For more information on the auction and the RECs available, click here.

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