HARRISBURG, Pa., Oct. 16, 2012 /PRNewswire-USNewswire/ -- The Pennsylvania Infrastructure Investment Authority and the Department of Environmental Protection announced today they will host a Nov. 7 auction for the sale and purchase of nutrient credits in the Susquehanna and Potomac watersheds.
The auction will be a "spot" auction, where verified credits will be sold at auction, delivered and applied to the 2012 compliance year. The auction will afford wastewater treatment plants in the two watersheds the opportunity to purchase credits as a means of meeting their nitrogen and phosphorus discharge limits for the compliance year.
PENNVEST hosts the auctions to encourage and facilitate the trading of nutrient credits in the Susquehanna and Potomac watersheds. DEP's nutrient credit trading program provides a cost-effective means for facilities that are subject to nitrogen and phosphorus limits to meet those limits by working with other facilities, non-point sources or both.
PENNVEST has chosen Markit Inc. to provide the platform for enrollment and eligibility, auctions and registry services. Markit, a financial information services company, provides operations and infrastructure services to environmental programs worldwide.
PENNVEST anticipates charging buyers and sellers 2.5 cents per credit to offset administrative costs.
For more information, visit www.pennvest.state.pa.us and click on "nutrient credit trading" on the left side of the page, or call PENNVEST at 717-783-4493 or DEP at 717-772-4785.
Paul Marchetti, PENNVEST, 717-783-4496
Amanda Witman, DEP, 717-787-1323