Finally, the mechanics for the Mass DOER’s Last Chance Auction have been made public! Brad Bowery of SRECTrade recently posted the details on his blog and I’ve hit the key points below.
All unsold SRECs generated in 2012 must be put up for this auction or will expire worthless.
The most important item is that each person who participates will sell an equal percentage of their SRECs. So if only 50% of the available SRECs for purchase are sold in order for the utlities to reach their quota, each person who participates will sell 50% of their SRECs and receive $285 each (minus any aggregator fees).
Any SRECs that do not get sold will have their lifetime extended by 3 years but will need to be sold at the going market rates and are ineligible for any further Last Chance Auctions. But, as detailed in my last post, 2015 projects to be an undersupplied year and the market price for SRECs should exceed $400.
Here’s a link to SRECTrade’s blog post. Thanx Brad!