VALLEY FORGE, Pa., June 2 /PRNewswire/ -- Buyers and sellers who want to participate in the new Solar Renewable Energy Certificate (SREC) auction through PJM EnviroTrade's Sage auction platform can now register.
PJM EnviroTrade's Sage auction, which was announced in March this year, will run its first auction in July 2010. The Sage auction, which operates within PJM's region, is targeted initially to service the solar renewable energy certificate markets of New Jersey, Pennsylvania, Ohio, Delaware, Maryland and the District of Columbia.
To participate in the auction, buyers and sellers in the SREC market create an account by registering online at www.pjmenvirotrade.com. Although there is no membership fee to register, some transactional fees may apply to buyers. Registration is open 24 hours a day, and in order to participate in the first auction, the registration process must be completed prior to entering bids and offers. Further updates on deadlines will be posted to the Sage auction web site.
Participants can sign up for a training session on PJM EnviroTrade's web site www.pjmenvirotrade.com. The auctions are conducted 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 windows are closed, the Sage auction simultaneously clears all eligible markets and verifies the renewable auction results.
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.
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