HARRISBURG, Pa. — The Pennsylvania Infrastructure Investment Authority (PENNVEST) and the Department of Environmental Protection (DEP), along with financial information services company Markit, have held the third “forward” auction in 2014 for the sale and purchase of nutrient credits in Pennsylvania’s Chesapeake Bay watershed.
What is it
A “forward” auction means that the certified credits sold Sept. 10 will be delivered later and applied to the 2014-15 compliance years.
The auction affords wastewater treatment plants and other regulated entities the opportunity to purchase credits to meet their nitrogen and phosphorus discharge limits for these compliance years.
PENNVEST hosts the auctions to encourage the trading of nutrient credits in the Susquehanna and Potomac watersheds. DEP’s nutrient credit trading program offers a for facilities that are subject to nitrogen and phosphorus limits to meet those limits by working with other facilities, non-point sources or both.
This was a two-round auction, with the first round being held in the morning and the second in the afternoon. In the first round, the following credits were bought and sold: Susquehanna phosphorous, 2014: 1,456 credits for $2 per credit; second round, Susquehanna phosphorous, 2014: 2,000 credits for $2 per credit.
PENNVEST’s next auction is scheduled for Nov. 5. This will be a “spot” auction of verified credits to be applied toward meeting nutrient discharge limits during the 2014 compliance year. The enrollment period for that auction will close on Oct. 15.
For more information, visit www.pennvest.state.pa.us or call 717-783-4493.
