In other markets there has been little movement in Renewable Energy Certificate (REC) prices. In the Netherlands, prices remain low at EUR 7-8/MWh, largely due to the uncertainty in the market created by the delay in introducing new legislation for renewables (the MEP). In contrast, UK prices remain high with bid prices ranging from £46-50/MWh (EUR 67-73/MWh). The British government's Energy White Paper, while falling short of endorsing a binding target beyond 10% renewables by 2010, provides positive signs about the long term prospects for renewables. This will make it easier for developers to secure long term finance deals, according to commentators. In the US, prices for certificates vary widely, with different schemes operating in different states. Prices in Texas, which have fallen slightly to $10-12/MWh (EUR 9.5-EUR 11/MWh), are currently midway between those of other states. A renewable energy certificate program is expected soon in California with the introduction of its new renewables portfolio standard.
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