The huge number of RECs created from PV RECs continues to flood the market, and has taken its toll on the REC price. We saw an all time high for the month of July with over 2 million RECs created, double the amount that caused the price crash in July of 2009. Since June, the wholesale REC prices (parcel size greater than 10,000 RECs) plummeted from $40 to around $33.50.

VEEC Update

The announcement of the scheme’s extension saw the wholesale VEEC spot price rise slightly, however the significant oversupplied market has been barely active throughout July.