Illinois: The past quarter saw an increase in liquidity in the IL ARES wind and non-wind market. Pricing has maintained its premium to the Green-e market with increased prices for the outer years. As you will see from our table we have added an IL ARES Non-Wind section. This market will see a number of interesting developments in 2015 that we will explore in a bit more detail next issue.

Michigan: A new bill (House Bill 5205) passed the Michigan House of Representatives this quarter that would change the definition of renewable energy to include fuel manufactured from waste, i.e. tires. Last quarter we expected to see an expansion in the definition of supply and this fits the bill, although more may be coming. If placed into law, this would have negative effect on pricing. We should have final clarity on this next quarter or two. As of our publication date, the 2012 MI RPS RECs are no longer eligible for compliance purposes, having expired on Dec 31, 2014.View PDF