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Environmental Certificate Pricing Update – 23 June 2020

Environmental Certificate Pricing - April - 23June 2020 - STC LGC VEEC ESC

In this post we take a look at the latest spot trade prices for various environmental certificates including STCs, LGCs, VEECs and ESCs.

We not only look at the pricing movements over the short term, but also comment on the general trends over the last 12 months since June/July 2019.

Small-scale Technology Certificates

The latest spot trade price for Small-scale technology certificates (STCs) – as at 23 June 2020 – is $39.40 – a 0.25% increase from the previous month and 0.77% increase over April 2020. Over the course of the last 12 months, there has been very little movement and volatility in STC pricing.  The average price since March 2020 has consistently between $39 – $40 mark and peaked in early April at $39.80 – the highest on record in the last 12 months since June 2019. The lowest spot trade price this calendar year (2020) was in mid- February at $35.50, but has since then, steadily climbed back up to present levels pushing towards the $40.00 price ceiling.

Large-scale Generation Certificates

In the last 12 months since June 2019, LGC prices peaked at $51.50 in October – November 2019 and bottomed out in early April 2020 at $27.00, which has steadily increased to present levels ($38.50). The spot trade price for LGCs (at 23 June 2020) sits at $38.50, rising sharply by more than $5.00 from $33.20  since the end of May– an increase of 16%. Back in late January to early February we saw wild swings and volatility in pricing, from a high of $47.50 down to a low of $30.50. At approximately the same time last year, the spot trade price for LGCs was 8.3% higher at $42.00 compared to current pricing (at 23 June 2020). If the downward trend over the last 12 months is anything to go by, we can expect to see further volatility and downward trend in overall pricing.

Victorian Energy Efficiency Certificates

Over the last 12 month period, prices for VEEC certificates had bottomed out at $20.50 at the end of July 2019 and steadily increased to a peak of $38.60 in late January 2020; since then, VEEC spot trade prices have been fluctuating on a downward trend to the current level at $30.25. VEEC pricing has fallen by 11.3% in the three weeks since the end of May 2020, from $34.10 down to $30.25.

Energy Saving Certificate Pricing

The latest spot trade for Energy Saving Certificates is at $25.00 (as at 23 June 2020), which represents a 24% increase from the 12 month low of $20.10 recorded in early July 2019. ESC pricing peaked in mid-April 2020 at $30.60 and has since then trending downwards to present levels.

 

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