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Solar Credit Clearinghouse Auctions
From the MA Department of Energy Resources (DOER):
The Department of Energy Resources (DOER) is pleased to announce that EnerNOC Inc. has posted the Auction Notice and Qualification Application for this year’s Solar Credit Clearinghouse Auction to the Solar Renewable Energy Credits (SREC and SREC II) Auction Announcement Website.
This year the DOER will conduct Solar Credit Clearinghouse Auctions for both SREC and SREC II certificates. The volumes of certificates available for purchase through each auction are as follows:
SREC I: 14,405 certificates
SREC II: 234,057 certificates
Note: These volumes are subject to increase between now and July 1st should retail suppliers with surplus settled certificates request that DOER approve post NEPOOL GIS trading period SREC transfers into the auction account. If an increase in volume occurs, revised totals will be announced the first week of July.
1. Minimum and Maximum Financial Security Requirements
For only the SREC II Auction, all Non-Retail Electric Suppliers without Renewable Portfolio Standards (RPS) compliance obligations must post at least $10,000 in financial security to participate in the SREC II Auction.
For both the SREC I and SREC II Auctions, Retail Electric Suppliers with RPS compliance obligations will be credited an amount of security commensurate with the volume of electric load that they served in 2015. Both Retail Electric Suppliers posting above their credited security and Non-Retail Electric Suppliers without RPS compliance obligations can post an amount no greater than the amount required to purchase ten percent (10%) of the total auction volume.
Non-Retail Electric Suppliers in the Commonwealth of Massachusetts without RPS compliance obligations cannot bid on and will not be awarded SRECs or SREC IIs in excess of ten percent (10%) of the total auction volume.
2. Multi-Tiered Auction
This year’s auction will be divided into two tiers of bidders.
Tier I
Tier I bidders will consist solely of Retail Electric Suppliers with RPS compliance obligations. Up to fifty percent (50%) of the total auction volume will be reserved for Tier I bidders. If bid demand exceeds fifty percent (50%) of the total auction quantity, awards will be made on a pro-rata basis. If there is insufficient demand, each bid received will be awarded and the remaining quantity of SRECs and SREC IIs will be made available to Tier II bidders.
Tier II
Tier II bidders consist of all entities, including any Tier I bidders with unfulfilled bids from Tier I. The remaining auction quantity after the Tier I awards have been made will be allocated on a pro rata basis to all Tier II Bidders as has been done in all prior auctions.
Key Dates & Bidder Webinar Registration
Key dates for the 2016 Solar Credit Clearinghouse Auctions are as follows:
- Wednesday, June 21, 2017 – Bidder webinar to review auction process and the Qualification Application
- To register for the webinar please go to: https://enernoc.webex.com/
enernoc/onstage/g.php?MTID=e8f 18587354956502c102975f73d90ce4 - Wednesday June 28, 2017 – Bidder Qualification Application due
- Monday, July 24, 2017 – First auction takes place
If you have any questions, please submit them in writing to the Auction Manager email account at: masrecauctionmanager@enernoc.c
Regards,
Michael Judge
Director, Renewable and Alternative Energy Development
Director, Renewable and Alternative Energy Development
