DELMARVA POWER TO HOLD AUCTION TO PURCHASE SOLAR RENEWABLE ENERGY CREDITS
Friday, May 10, 2013
SRECTRADE SELECTED TO MANAGE THE 2013 SREC SPOT MARKET AUCTION
Wilmington, Del. – Today Delmarva Power and Light Company (DPL), announced the dates for the commencement of the 2013 Solar Renewable Energy Credit (SERC) Spot Market Auction. The application process will begin on May 15th and - applications will be accepted through May 22nd.
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 2012/2013 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 will be entered online at the at www.SRECDelaware.com site.
For more information interested sellers should contact Rick Swink, Delmarva Power’s manager energy transactions at 202-872-2430 or Kevin Quilliam of SRECTrade at 877-466-4606.
About Delmarva Power: Delmarva Power, a public utility owned by Pepco Holdings, Inc. (NYSE: POM), provides safe and reliable energy to more than 500,000 electric delivery customers in Delaware and Maryland and over 122,000 natural gas delivery customers in northern Delaware.
Find additional information by visiting www.delmarva.com, on Facebook at www.facebook.com/delmarvapower and on Twitter at www.twitter.com/delmarvaconnect. Our mobile app is available at www.delmarva.com/mobileapp.