PJM EnviroTrade, a new subsidiary of PJM Interconnection, plans to launch a new auction to trade solar renewable energy certificates (SRECs) this summer.
PJM EnviroTrade's Sage auction, which operates within PJM's region, will initially provide service to the SREC markets of New Jersey, Pennsylvania, Ohio, Delaware, Maryland and the District of Columbia.
The first service offering will be a monthly auction for SRECs 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 auction results.
SOURCE: PJM EnviroTrade