This will be a so-called “forward” auction, where certified credits will be sold at auction, delivered later and applied to 2012 and future compliance years. The auction will afford wastewater treatment plants in these two watersheds the opportunity to purchase credits as a means of meeting their nitrogen and phosphorus discharge limits for the compliance years.
PennVEST is hosting the auction to encourage and facilitate the trading of nutrient credits in the Susquehanna and Potomac watersheds. DEP’s nutrient credit trading program provides a cost-effective means for facilities that are subject to nitrogen and phosphorus limits to meet those limits by working with other facilities, non-point sources or both.
PennVEST has chosen Markit Inc. to provide the platform for enrollment and eligibility, auctions and registry services.
PennVEST anticipates charging buyers and sellers 2.5 cents per credit to offset administrative costs.
For more information visit PennVEST's Nutrient Credit Trading webpage and the Markit Inc. website.
