With green power trades already counting for a significant part of its business, Automated Power Exchange (APX) now offers “green ticket” trading.
As generators of renewable or green energy sell their power into the hourly commodity energy market, they receive a “green ticket” for every megawatt generated.
Under a system similar to that used with emission allowance credits, these tickets can then be traded in APX`s new yearly market.
Besides helping green power traders and marketers lock in prices for up to a year in advance, the new ticket trading system allows them to buy according to technology type, plant vintage (existing or new), and California Energy Commission credit eligibility.
“As we rapidly expand our customer base, the APX Green Power Market will enhance our abilities to purchase the green technologies we want at the price we want,” said Fred Bloom, Commonwealth Energy CEO. “We can also support new green power plants by specifically purchasing from these facilities through APX.”
APX, an Internet trading firm that provides forward electricity markets and develops exchanges, started offering the green tickets in May.
In other developments, APX also launched automated bidding into the California Power Exchange (CalPX) energy auction and the California Independent System Operator`s (Cal-ISO) ancillary services market.
“We now give customers automated access to all of the key markets in California-APX and CalPX and the ISO-on a single screen,” said Ed Cazalet, APX CEO. “Having just one screen to work with saves our customers time, and it greatly simplifies their business processes.”