xIn the US, the markets for renewable energy certificates (RECs) remain strong in the Northeast. RECs eligible for meeting the Massachusetts green power mandate remain in particularly short supply -- the Nepool tracking system administrators indicate that barely half the Massachusetts' obligation will be met. Those caught short must pay the Alternative Compliance Payment of $51.41 for the 2004 period. Market prices for unsold Massachusetts RECs have been clearing in the $50 and upwards range for several months.
xConnecticut Class 1 RECs have seen more balance, with trades generally clearing in the mid to upper $30 per certificate. The program's regulators have recently re-opened a docket that will determine how REC imports from other states will be handled. Texas RECs, the other major traded REC market in the US, have traded up to the $14/REC range in recent months.
xGeneric RECs from facilities around the country without local requirements for minimum standards of renewables in supply portfolios have seen falling prices overall, as increased installations and awareness of REC value among existing generators continues to spread. While growing at a rapid rate, voluntary buyers, who are the usual off-takers for these certificates, have not kept pace with supply.