Phoenix Partners introduces electronic trading platform for renewable energy credits

(20/04/2009)

Renewable energy credits, also called "green tags", are tradable environmental commodities issued by an appropriate oversight entity to represent a set amount of energy produced (typically 1,000 kilowatt hours) from renewable natural resources, such as solar, wind and biomass.

Phoenix Partners Group has introduced an electronic trading platform for renewable energy credits, the first of its kind within the environmental brokerage community.

The web-based platform provides a real-time forum for buyers and sellers of renewable energy credits (RECs) to review available inventory and place bids or offers for all tradeable REC programs from a single online screen.

Previously, energy generators, resellers, marketers, and other parties interested in REC trading had to rely on more fragmented, intrusive "voice brokerage" channels to identify inventories and counterparties for REC purchases and sales. All domestic Renewable Portfolio Standards (RPS) and voluntary programs are supported by Phoenix Partner's REC platform, which also provides REC market quotes and historical REC pricing and statistics.

"This electronic trading platform for the REC market will introduce efficiency, speed, and centralization to a burgeoning albeit complicated and fragmented market," said Sakis Asteriadis, Global Head of Environmental Commodities at Phoenix. "The convenience afforded by the introduction of this reliable, practical trading solution will no doubt be quickly embraced by buyers and sellers alike."

In addition to its own expertise in energy and environmental markets to develop the trading platform, Phoenix Partners consulted with myriad participants in the U.S. renewable energy markets. Phoenix will continue enhancing the platform based on user feedback. A major new release is planned this month to support trading of Voluntary Emission Reduction (VER) credits.

Related categories:  Biofuels and biomass   Carbon trading   Solar power and photovoltaics   Wind power