VALLEY FORGE, Pa., March 30 /PRNewswire/ -- PJM EnviroTrade, a new subsidiary of PJM Interconnection, will launch a new auction to trade solar renewable energy certificates this summer. PJM EnviroTrade's Sage auction, which operates within PJM's region, will initially provide service to the solar renewable energy certificate markets of New Jersey, Pennsylvania, Ohio, Delaware, Maryland and the District of Columbia.

PJM EnviroTrade's first service offering will be a monthly auction for solar renewable energy certificates through its Sage auction. Registered participants will access the auction and participate through a Web-based tool. The Sage auction allows buyers and sellers to enter bids and offers during a defined auction window. After the auction window is closed, the Sage auction simultaneously clears all eligible markets and verifies the renewable auction results.

"Expanding renewable energy requirements and evolving needs of customers in our region make this the right time to offer a service alternative in the renewable energy area," said Adrien Ford, president of PJM EnviroTrade. "What makes us unique is our expertise in administering markets and the tight linkage between environmental products and the electric industry.

"While the Sage auction is our primary service right now, we look forward to extending our expertise to other environmental transactions at some point in the not-too-distant future," Ford said.

Renewable energy certificates, or RECs, represent the renewable attributes of one megawatt-hour of power generation and are separate from the electricity itself. The certificates are created and tracked through a registry system including, but not limited to the Generation Attribute Tracking System, or GATS, operated by PJM Environmental Information Services.

PJM EnviroTrade partners with renewable tracking systems to provide seamless integration for sellers in the Sage auction. Renewable energy certificates are valuable to both compliance buyers, which are entities that must satisfy state-mandated renewable requirements, as well as voluntary buyers, which are entities that seek to achieve their own environmental goals. While the certificates can be used for both compliance and voluntary purposes, a single certificate can only be used once.  

PJM EnviroTrade, whose ultimate parent company is PJM Interconnection, facilitates environmental transactions. The Sage auction is PJM EnviroTrade's initial service for transactions in the solar renewable energy certificate market. PJM EnviroTrade's mission is to provide innovative, transparent and secure platforms for environmental transactions supported by expert staff and superior customer service. Visit PJM EnviroTrade at www.pjmenvirotrade.com

SOURCE PJM EnviroTrade

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