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Xpansiv Achieves New Milestone with $27 Million in REC Trades

Xpansiv’s CBL spot exchange set a monthly record in January for the highest notional value of renewable energy certificates (RECs) traded.

Xpansiv’s CBL spot exchange set a monthly record in January for the highest notional value of renewable energy certificates (RECs) traded. More than $27 million of REC transactions were traded directly on the CBL matching engine or settled via the exchange’s automated, post-trade settlement infrastructure.

Volume for the month was 251,758 MWh, the third highest monthly total since CBL launched REC trading in 2021.

January’s performance continues the strong growth trend in CBL’s REC market, which traded a total of 3.15 million MWh last year, an 18% increase.  Notional value traded in 2024 was $158 million, a jump of 41%.

Through its infrastructure, Xpansiv supports PJM, NEPOOL, ERCOT, WREGIS, NAR, NYGATS, MRETS, and MIRECS domestic RECs markets. It further supports international RECs (I-RECs) trading and operates the TIGRS global REC registry.

Market participants trade on CBL’s transparent exchange to access live, firm bids and offers, instant execution, and automated, T+0 settlement, through direct integrations with leading REC registries and a US settlement bank.

Market participants settle OTC trades via the exchange for two primary reasons. The first is trades can be settled between CBL participants without bilateral trading or credit counterparty agreements. The second is, as with exchange-matched trades, CBL’s post-trade infrastructure provides automated settlement for OTC trades, speeding settlement cycles and reducing errors and fails.

The value of the US renewable energy certificate market in 2022 was estimated at more than $13 billion by S&P Global Market Intelligence, which projects the market to grow to $40 billion by 2033.

The growth in our RECs market reflects the key role these instruments play in the energy transition markets as well as the utility of our transparent exchange and secure, automated settlement facility to market participants.  It also validates our commitment to expand the range of asset classes available to support company sustainability teams and other stakeholders from renewable energy and carbon to nascent markets in alternative fuels and plastics.

To learn more about Xpansiv’s RECs solutions, please contact exchange@xpansiv.com.