Delmarva Power to hold auction to purchase solar renewable energy credits

Delmarva Power and Light Company announced the dates for the commencement of the 2013 Solar Renewable Energy Credit Spot Market Auction. The application process began May 15, and applications will be accepted through Wednesday, May 22.

SRECs allow generators of renewable energy to sell credits to Delmarva Power for its compliance with state standards for renewable energy development. These credits can accrue automatically to solar panel owners and often can be traded and sold like stocks on the stock market.

Through the auction, DPL intends to purchase from 2,000 to 6,000 SRECs to help meet its compliance year 2012-13 RPS obligations in the state of Delaware. The balance of DPL’s obligations will be met by existing arrangements put in place by the company. The company will be accepting bids from generators of renewable energy wanting to sell existing SRECs created based on generation on or after June 2010.

SRECTrade Inc. has been selected to act as procurement agent for the auction. The auction will be hosted by SRECTrade at www.SRECDelaware.com and all information regarding the auction will be posted on the site. SRECTrade will use its leading SREC management platform and apply its market expertise in the execution of the auction.

Consistent with the recently completed 2013 SREC Procurement Program, all bids are to be entered online at www.SRECDelaware.com.

For more information, interested sellers should contact Rick Swink, Delmarva Power’s manager of energy transactions at 202-872-2430 or Kevin Quilliam of SRECTrade at 877-466-4606.