8 July 2014 — BRIEF: Carbon Trade Exchange has launched Australia’s first fully electronic renewable energy certificate market – TRECs.
Due to the government’s pre-election claim to support the Renewable Energy Target, CTX began developing an online trading platform “to provide the market with a secure, transparent and liquid web-based trading environment to spot trade RECs”, according to a company media release.
Due to a hostile political environment the launch was deferred until the recent commitment from Clive Palmer and his Palmer United Party to reject a RET repeal or its wind back.
The TREC market will provide a single exchange platform for buyers, sellers and brokers in order to increase liquidity and transparency in the market, and reduce transaction costs. Both large-scale generation certificates and small-scale technology certificates will be tradable.
“Providing a liquid, secure and transparent market for environmental assets allows legislated and voluntary participation into a network of global exchanges,” CTX chairman and founder Wayne Sharpe said.
“During our R&D phase, CTX canvassed approximately 80 per cent of the Australian REC market, so we expect that within a month this will be the only place to be.”