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Flett Exchange is pleased to announce the results of the Atlantic County Utilities Authority (ACUA) Solar Renewable Energy Certificate (SREC) sale. 197 energy year 2010 New Jersey SRECs were sold at a clearing price of $667.00. The sale was conducted on Flett Exchange’s electronic marketplace under its Public-Auction SREC Market and total market proceeds equaled $131,399. Registered buyers and the public could observe the bidding in real time by logging in to Flett Exchange.
The $667 clearing price is 96.2% of the $693 Alternative Compliance Payment (ACP). The ACP is the payment electric producers have to pay to the State of New Jersey if they do not produce a specified amount of electricity using solar energy or through the purchase of SRECs from facilities located in New Jersey. The auction was oversubscribed by over 400% and there was strong participation by Load Serving Entities (LSE’s) trying to procure SRECs. This activity supports solar development in New Jersey and SREC revenue goes to entities that take risk in developing solar facilities.
More about the ACUA: “The Atlantic County Utilities Authority is responsible for enhancing the quality of life through the protection of waters and lands from pollution by providing responsible waste management services. The Authority is an environmental leader and will continue to use new technologies, innovations and employee ideas to provide the highest quality and most cost effective environmental services.”
The ACUA generated these Solar RECs from a solar facility located on their waste water treatment plant.