Today we announced a very successful auction held for Verdant Energy. The full press release can be found here, but we wanted to give you some of the highlights:

Verdant, a leading Canadian power supplier, auctioned off Carbon Offsets, or “green credits” under the recently established Alberta Offset System.

By leveraging the World Energy platform and working with Baseline Emissions Management, Verdant was able to sell its green credits to an online community of buyers. Verdant had previous indications that the value for its credits would be less than its desired benchmark price, and were very satisfied with the outcome of the quick and profitable auction.

• As one of the largest regulated greenhouse gas emissions (GHG) markets in North America, Alberta is requiring large emitters to reduce emissions by 12% before March 31, 2008 or face financial penalties.
• To facilitate compliance, emitters have the option to pay into Alberta’s climate change Technology Fund for $15 per Tonne.
• World Energy conducted six separate auction tranches, culminating in more than 80 bids.
• Three of the eight bidders were awarded a total of 80,000 Tonnes, resulting in a significant savings over what they would have had to pay into the Technology Fund.

We would love to hear your comments concerning this pioneering event and we will keep you up to date on industry reactions throughout the rest of the week.

Tags: auction exchange, carbon credit trading, Carbon Credits, carbon emissions, NYMEX, RECs, Verdant, world green exchange

This entry was posted on Wednesday, January 23rd, 2008 at 9:50 am and is filed under Green News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.