For our clients who are involved in the Ohio market, it is nice to have this significant question finally answered. We expect to see liquidity return to this market followed by better pricing. Shortly after this news, First Energy released an RFP for 250,000 Ohio RECs (improved liquidity). As always, I enjoy talking about this market and would be happy to share our analysis on the forward supply and demand curves with our clients.

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Illinois: The past quarter saw IL RPS REC pricing decrease slightly, but still remain well above Green-e. We also saw a jump in demand for older non-wind IL RPS RECs, pushing the price past $1.00. Whether or not this is a temporary shift remains to be determined.

Michigan: Prices ticked up a bit in the second quarter with some trades for current year product breaking above $1.00. The Michigan REC market is still oversupplied with more generation on the way and we expect prices to stay close to this range going forward. Surprisingly, generators who are eligible for the Ohio REC markets have not made the switch, despite a spread that went as high as twelve dollars.  View PDF