Connecticut Begins Trading Renewable Energy Certificates
Evolution Markets LLC in White Plains, New York, announced on August 22 that it had brokered its first trade of renewable energy certificates under Connecticut's recently revised renewable portfolio standard. Under the trade, 10,000 (Class I) certificates were sold for $375,000. Each certificate represents the environmental attributes associated with 1,000 kWh of electricity generated from renewable energy resourced on the New England Power Pool (NEPOOL).
As of January 1, 2004, the Connecticut standard requires Connecticut power generators to purchase NEPOOL certificates from eligible renewable energy resources equivalent to 1% of their generation in 2004. In 2010, the requirement ramps up to 7% of their generation. For more information on the trade, see Evolution Markets' August 22 press release.