Platts launches additional emissions-adjusted North American REC prices

Platts, part of S&P Global Commodity Insights, launches additional emissions-adjusted Renewable Energy Certificate (EA REC) price assessments, as well as more emissions data for REC locations, from April 4, 2024.

The assessments are intended to provide market participants with clarity on the value of a REC based on the intensity of greenhouse gas emissions from power generation displaced by renewables production.

Platts initially launched EA RECs for ERCOT on Nov. 2, 2023 and introduced further EA REC assessments for PJM, MISO, CAISO and M-RETs on Jan. 18, 2024 . Subscriber notes for the previous launches can be found here(opens in a new tab) and here(opens in a new tab), respectively.

Alongside the new prices, Platts is publishing emissions data for each REC location, with information provided by clean energy data-driven solutions provider REsurety.

REsurety calculates locational marginal emissions for nodes across power grids in North America and has aggregated these to match REC contract location areas.

The weekly EA REC price assessments combine Platts existing $/MWh REC price assessments with the emissions data for that REC.

The EA REC values are published on a $/mtCO2e basis and published alongside Platts' existing REC price assessments.

Platts is also publishing the corresponding REsurety's carbon abatement value in kg of CO2e/MWh.

REsurety's historical granular LME data and hourly generation modelling provides estimates of the carbon abated in each hour by each project.

Underlying LME values are updated on a monthly cadence.

In this third launch, Platts is publishing EA RECs for the following instruments:

• Massachusetts REC Class 2 (non-WTE) Current Year Vintage
• Rhode Island REC New Current Year Vintage
• Massachusetts REC Class 1 Prior Year Vintage
• Massachusetts CES Current Year Vintage
• Connecticut REC Class 1 Prior Year Vintage
• Maine REC Class 1 Current Year Vintage
• Maine REC Class 1A Current Year Vintage
• New Hampshire REC Class 1 Current Year Vintage
• New Hampshire REC Class 2 Current Year Vintage
• Vermont REC Tier 1 Current Year Vintage
• NEPOOL REC Dual Qualified Class 1 Current Year Vintage
• Connecticut REC Class 1 Current Year Vintage
• Massachusetts REC Class 1 Current Year Vintage
• NAR Any REC Prior Year Vintage
• NAR Any REC Current Year Vintage
• NAR Any Green-e Eligible REC Current Vintage
• NAR Any Green-e Eligible REC Current Vintage FH
• NAR Green-e Eligible Wind REC Current Year Vintage
• NAR Green-e Eligible Wind REC Current Year Vintage FH
• National Green-e Certified REC Any technology Prior Year Vintage
• National Green-e Certified Wind Prior Year Vintage
• National Green-e Certified REC Any technology Current Year Vintage
• National Green-e Certified Wind Current Year Vintage

Please submit any feedback, comments or questions to americas_renewables@spglobal.com and pricegroup@spglobal.com.

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