STC Market Update 26/08/19

The STC market had another strong and stable week trading within a small range. The market opened the week at $37.20 and fluctuated around this level all week before ultimately closing at the same level. A decent amount of trades reported and the forward price curve is now very flat for the rest the year and early 2020.

Despite some issues with creating certificates through the REC Registry persisting, a total of just over 710,000 STC’s were created, up from 590,000 the previous week. Creations are likely to be even higher next week as the backlogs are cleared. The temporary lower supply levels may have helped keep the spot price higher so it will be interesting to see what effect the greater supply levels will have in the coming week or so.

Buying interest remains strong for early 2020. Historically the price strengthens in the first quarter as we approach the announcement of the next years renewable energy percentage. The number of STC’s listed on the clearing house currently sits at 445,279, very little change to 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.