Public Service Electric and Gas (PSE&G) is using an auction process to sell New Jersey solar renewable energy certificates (SRECs) received as repayments for loans extended by PSE&G to develop solar energy projects. NERA Economic Consulting is managing the auctions, expected to be held quarterly.
These auctions provide an opportunity to purchase SRECs to suppliers of New Jersey customers, as well as to traders, NERA explains. The first auction is scheduled for Jan. 29, 2010.
NERA has established a Web site – www.solarREC-auction.com – to provide bidders with a central source of documents, data and other information for the auctions.