Markit
 
Pennvest Nutrient Credit Trading Program

The Pennsylvania Infrastructure Investment Authority (PENNVEST), working in conjunction with the Department of Environmental Protection (DEP), is hosting auctions for the sale and purchase of nutrient credits in the Susquehanna and Potomac watersheds.

PENNVEST’s Nutrient Credit Trading program provides a cost-effective means for regulated public and private waste water treatment plants and other parties to purchase credits to meet their nitrogen and phosphorus discharge limits for the compliance year.

Markit is providing enrollment and eligibility, auctions and registry services to PENNVEST to facilitate these auctions.

PENNVEST will serve as central counterparty and clearinghouse for auction transactions. Credit buyers and sellers will be contracting with PENNVEST thereby reducing risk for buyers and sellers, which in turn should help create a stable nutrient credit trading market in Pennsylvania.

 
 
Previous Auction Results

March 19, 2014 Nutrient Credit Forward Auction Round 2 – No additional sales
March 19, 2014 Nutrient Credit Forward Auction Round 1 Results
November 6, 2013 Nutrient Credit Spot Auction Round 2 – No additional sales
November 6, 2013 Nutrient Credit Spot Auction Round 1 Results
September 11, 2013 Nutrient Credit Forward Auction Round 2 Results
September 11, 2013 Nutrient Credit Forward Auction Round 1 Results
June 12, 2013 Nutrient Credit Forward Auction Round 2 Results
June 12, 2013 Nutrient Credit Forward Auction Round 1 Results
March 20, 2013 Nutrient Credit Forward Auction Round 2 Results
March 20, 2013 Nutrient Credit Forward Auction Round 1 Results
November 09, 2012 Nutrient Credit Spot Auction Round 2 – No additional sales
November 09, 2012 Nutrient Credit Spot Auction Round 1 Results
September 12, 2012 Nutrient Credit Forward Auction Round 2 Results
September 12, 2012 Nutrient Credit Forward Auction Round 1 Results
June 13, 2012 Nutrient Credit Forward Auction Results
March 21, 2012 Nutrient Credit Forward Auction Results
November 2, 2011 Nutrient Credit Spot Auction Results
November 4 and 5, 2010 Nutrient Credit Forward Auction Results
October 28 and 29, 2010 Nutrient Credit Forward Auction Results
 
Auction Schedule
Auction Application Enrollment Cut-Off DateAuction Date - Type
February 12, 2014March 19, 2014 - Forward Auction
May 7, 2014June 11, 2014 - Forward Auction
August 6, 2014September 10, 2014 - Forward Auction
October 15, 2014November 5, 2014 - Spot Auction

The following schedule relates to the Pennvest Nutrient Credit Trading Program Forward auction scheduled for 11 June 2014:

16 April 2014Training Session 1 - Enrollment and Eligibility. Email environmental.auctions@markit.com
16 April 2014Markit systems open for applicants to register and submit enrollment applications
23 April 2014Training Session 2 - Enrollment and Eligibility. Email environmental.auctions@markit.com
7 May 2014Deadline for registration forms/enrollment applications
28 May 2014PENNVEST informs potential auction participants on their eligibility to participate in the auction
28 May 2014Training Session 3 - Bids & Offers & viewing results. Email environmental.auctions@markit.com
4 June 2014Training Session 4 - Bids & Offers & viewing results. Email environmental.auctions@markit.com
9 June 2014Collateral and executed nutrient credit sales agreements and nutrient credit purchase agreements due to PENNVEST. Eligible Participants Deliver (3) originally executed signature pages for Sales/Purchase Agreements to PENNVEST
11 June 2014Auction Open - First Round 9:00am - 11:00am
11 June 2014First Round results are posted by 1:00pm
11 June 2014Auction Open - Second Round 2:00pm - 3:00pm
11 June 2014Second Round results are posted by 5:00pm
 
Auction Rules

Click here to access PENNVEST’s Nutrient Credit Clearinghouse Rulebook

 
Auction Fees
Buyers and sellers will be charged a nominal fee of 2.5 cents per credit as a means of offsetting the administrative costs it incurs in conducting these auctions.
 
Register to Participate
Click here to register to participate in the Pennvest Nutrient Credit Trading Auction
 
Information from previous training webinars
To access the information presented in the Enrollment Training training session webinar, click here.
To access the information presented in the Auction Participation training session webinar, click here.
To access the information presented in the Spot Auction Participation training session webinar, click here.
 
More Information
Click here for recent media releases.
For more information about the PENNVEST Nutrient Credit Trading auctions, please contact:

     PENNVEST: Paul Marchetti, 717-783-4496; pmarchetti@pa.gov
     DEP: Interstate Waters Office, (717) 772-4785, kprice@pa.gov
     Markit: 917-441-6658, environmental@markit.com
 
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