Market Report | March 2023
“A quiet month on the REGOs as Utilities calculate their REGO needs for the end of CP21 and sellers wait until April to claim their final REGOs.”
Mike Ridler, Head of Green Markets at C-Zero
“Lots of waste volumes are being offered on the market; now might be the time for sellers to lock in 2023 production volumes.“
- Waste pricing has begun to come off slightly as more volumes are being offered on the market due to the lack of Swedish demand for certificates after the EU ruling (see last month’s report)
- ISCC Waste Certs are still commanding high price levels, but recent bids in the low £50s have been withdrawn, and buyers are now aiming for the mid £40s
- Crop price increases have slowed, probably due to the fall in waste, but crop is still in demand.
- Guidance from the World Resources Institute (WRI), administrator of the GHG Protocol, on their proposed changes regarding Green gas certs is eagerly anticipated.
- Over 50 biogas and biomethane trade associations and companies worldwide have called on the WRI to rethink its position on using biomethane certificates for greenhouse gas reporting by corporate gas users. They are asking for the removal of Annex B of the guidance and for the reinstatement of the existing guidance allowing companies to purchase biomethane certificates as part of their Scope 1 reporting.
“RTFCs have taken a beating on price, but maybe there’s a rebound coming.”
Head of Client Partnership at C-Zero