PENNVEST, DEP Announce Nutrient Credit Trading Auctions for this Fall

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PENNVEST

Aug 10, 2011, 02:38 ET

HARRISBURG, Pa., Aug. 10, 2011 /PRNewswire-USNewswire/ -- The Pennsylvania Infrastructure Investment Authority (PENNVEST), working in conjunction with the Department of Environmental Protection (DEP), will host auctions this fall for the sale and purchase of nutrient credits in the Susquehanna and Potomac watersheds.  

There will be two "spot" auctions of verified credits, applicable to the 2011 compliance year (i.e. Oct. 1, 2010 – Sept. 30, 2011).  Both auctions will afford wastewater treatment plants in these two watersheds to purchase credits as a means of meeting their nitrogen and phosphorous discharge limits for the compliance year.

PENNVEST is conducting these auctions as a component of Pennsylvania's nutrient credit trading program to encourage the trading of nutrient credits in the Susquehanna and Potomac watersheds. The Nutrient Credit Trading program provides a cost-effective means for facilities subject to meet limits for nitrogen, phosphorus and sediment to meet those limits by working with other facilities, with nonpoint sources, or both.

PENNVEST has chosen Markit to provide the platform for enrollment and eligibility, auctions and registry services. Markit is a leading, global financial information services company with significant experience in providing operations and infrastructure services to environmental programs worldwide.

The schedule for the auctions is as follows:

  • Oct. 5: application information from potential auction participants due to PENNVEST
  • Oct. 12: application information finalized by PENNVEST and potential auction participants
  • Oct. 26: PENNVEST informs potential auction participants on their eligibility to participate in the auction
  • Nov. 2: PENNVEST conducts first spot auction
  • Nov. 4: PENNVEST announces first spot auction results
  • Nov. 9: PENNVEST conducts second spot auction
  • Nov. 11: PENNVEST announces second spot auction results

To acquaint users with the electronic auction platform, an information meeting will be held Sept. 14 from 1:30 p.m. to 3:30 p.m., Eastern Daylight Time. This meeting will be a WebEx event. To access it via the Internet, go to the following link and register prior to the event: https://copa.webex.com/copa/onstage/g.php?d=642046680&t=a.

To access by phone at the time of the meeting, use the following:

  • Call-in toll-free number (US/Canada): 1-877-669-3239.
  • Call-in toll number (US/Canada): +1-408-600-3600.

In both cases, the event number is: 642 046 680.

Those interested in participating in either of these auctions should consult the "PENNVEST Nutrient Credit Clearinghouse Rulebook – 9-24-10.pdf" through PENNVEST's website, online at the following location:

http://www.portal.state.pa.us/portal/server.pt/community/nutrient_credit_trading/19518/Hide%20Nutrient%20Credit%20Trading%20Rulebook/763393

PENNVEST anticipates charging buyers and sellers a nominal fee of 2.5 cents per credit as a means of offsetting the administrative costs it incurs in conducting these auctions.

For more information, contact Paul Marchetti at PENNVEST, 717-783-4496; [email protected]; or Ann Roda at DEP; 717-787-4726, [email protected].

Media contact: Paul Marchetti, PENNVEST; 717-783-4496

SOURCE PENNVEST

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