The following step by step instructions will cover the bidding process for the SRECDelaware Spot Auction. Note that this process is different for New Customers and Existing Customers. Please scroll down for New Customer Instructions.
For Existing SRECDelaware Customers:
1. Log in: Log in to your SRECDelaware account. Go to the “Contracts” tab. Once on the Contracts tab, click “Spot Auction” in order to access the Spot Auction.
2. Edit Payment Preferences: Click the “Edit Payment Preferences” button which appears on your dashboard. Here, you will be able to enter your bank account information. Once the information is entered, click “Save and Return to Dashboard.”
3. Place an order: Once you have returned to your dashboard, click “New Order.”
On the Order page, additional SRECs which SRECDelaware currently holds for you will appear. All those which appear are available to sell and are not contracted for in the Procurement Program. To sell these additional SRECs, enter a SREC quantity and a bid price for each SREC you would like to sell. You may not enter a quantity higher than the “Quantity Available” for each SREC.
Note that any Delaware certified SREC generated June 2016 or later is eligible to be bid in this auction. Winning bids will be determined solely on price.
Once you have filled out all of the bids you would like to enter, read the Terms and Conditions of the Auction. You must then electronically sign the agreement and click “Submit.”
Your bid will then be entered.
Note: If you are an Existing Customer and wish to sell SRECs which are not currently held by SRECDelaware, you will need to create a second account to sell those SRECs from. Multiple accounts can have the same bank information. If you do not wish to create a second account, please notify us and transfer the SRECs to SRECDelaware in GATS.
4. After the auction: Bidders will be notified of their status after the auction. All winning bids will be paid via ACH to the bank account entered when their bid was entered.
Changing or Deleting Bids
Bids can be changed or deleted at any time prior to the close of the auction at 5:00 EST on December 7th. To change or delete a bid, click “Edit” or “Delete” on the line next to your order on your dashboard. If you have already transferred an SREC and subsequently decide to delete your bid, your SREC will be returned after the auction close with the other non-winning SRECs.
For New SRECDelaware Customers:
1. Create an SRECDelaware Account: New users click the “Sign-up” button in the upper right corner of the screen to create an account.
New account information requires your name and contact information, and will require you to respond to a validation email.
2. Enter Payment Preferences: To enter your payment information, first make sure you are on the “Spot Auction” tab. To begin, click “Enter Payment Preferences.”
You will now need to enter your bank information. This is the bank account we will deposit the ACH payment into if your SRECs are selected in the auction. Once you have completed all fields, click “Save and Enter New Order.”
3. Enter an Order: You may now begin your order. Enter the SREC Quantity you wish to sell along with a bid price. You may create multiple orders if you wish to sell multiple SRECS for different prices. You must also create a unique Order Name for each order. Lastly, enter your GATS account name. You can find this name by logging into your GATS Account.
Once you have completed all fields, read the Terms and Conditions and sign that you agree to them. Click “Submit” and your bid will be entered.
4. Transfer your SRECs: Your bid will not be complete until you have transferred your SRECs to the SRECDelaware Procurement Program account in PJM-GATS. Instructions for the transfer can be found here. All non-winning bids will have their SRECs returned to the PJM-GATS account they were transferred from.