STC Market Update – 11th November 2019

The STC market was fairly quiet last week with the price remaining generally stable. Spot pricing opened at $37.00 with some trades early in the week slightly higher before a slump saw the price drop back to $36.85. One large final trade was reported Friday back at $37.00.

The forward curve remains flat with trades for late 2019 around the same level as spot. Early 2020 is slightly higher. An interesting development is the CER slowing down approvals for non-validated STC claims. This has meant a large backlog has started to accumulate in the REC Registry which has reduced supply to the market. The spot price might be even lower if normal supply was flowing through.

The number of STC’s created last week was approx 650,000. This is down 150k from the previous week, probably as a result of Melbourne cup day.

The number of STC’s listed on the clearing house currently sits at 311,802. Down approx 13k from last week. A link to the STC clearing house can be found here.

Our latest pricing for both registered and non-registered STC’s can be found here.