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Author Archives: Michael Flett

About Michael Flett

Michael Flett is Chief Executive Officer and President of Flett Exchange. Michael founded Flett Exchange in 2006, to introduce transparency, price discovery, and liquidity to environmental markets. His mission was to create a universal, online marketplace where buyers and sellers could meet and negotiate environmental products in a secure and seamless manner. Michael has been heralded as a pioneer of environmental markets; his leadership and innovation has afforded him the opportunity to speak at various clean energy conferences and advise utilities, energy companies, financial institutions, Fortune 500 corporations, townships, municipalities, and government agencies on renewable energy solutions. Through Michael’s stewardship, Flett Exchange is dedicated to educating, serving, and offering fair and orderly environmental markets for the betterment of a progressing green economy. Michael has over two decades of direct commodities experience. He has been a member of the New York Mercantile Exchange (NYMEX) since 1996, which is the world’s largest regulated energy exchange. Michael began his career in 1987 at Gerald Commodities, as an energy broker and later formed Flett Futures, Inc which expanded into one of the most respected energy brokers on the (NYMEX). Michael transitioned Flett Futures, Inc into a proprietary trading firm in 2000, to participate in the advent of electronic trading in energy futures and successfully traded over $200 billion in physical futures and over-the-counter financial energy derivatives.

New Jersey SREC Market Trades Below $200 for the first time since September 15, 2011


The New Jersey SREC market has slid below $200 for the first time since September 15, 2011. The Flett Exchange marketplace settled at $195.50 today for immediate payment and delivery. Oversupply of SRECs and the lack of corrective legislative action has caused the SREC market to drop over $80 in …

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Posted in: New Jersey SRECs, Press Releases, Research, SREC

New Jersey Solar Bill Falls Apart in Negotiations


The much anticipated solar legislation (s-2371) failed to be posted during the last day of the New Jersey Legislature. The main intention of this legislation was to increase the amount of SRECs that the power companies in New Jersey have to purchase. This is needed to soak up the excess …

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Posted in: New Jersey SRECs, Press Releases, SREC

New Jersey Assembly Committee Passes Solar Legislation, Now Waiting for Passage in Legislature and eventual Christie Approval


The New Jersey Telecommunications and Utilities Committee passed s-2371 yesterday. It now needs to be passed by the legislature. This bill has a new schedule that will soak up the oversupply of SRECs due to the overbuilding of solar in the State in the past 12 months. Solar developers have …

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Posted in: New Jersey SRECs, Press Releases, SREC

Flett Exchange Public SREC Auction Results for Multiple Schools and MUAs


Flett Exchange is pleased to announce the results of today’s public auction. The clearing price was $296.00 for 752 New Jersey Solar Renewable Energy Certificates SREC. This clearing price is the highest price achieved for the Sale of energy year 2012 SRECs since last July. The sale was conducted for …

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Posted in: New Jersey SRECs, Press Releases, Public-Auctions, SREC

Flett Exchange Suspends its Massachusetts Spot SREC Market Settlements


Flett Exchange has suspended its daily settlement prices for the Massachusetts spot SREC market as of October 26, 2011. This decision has been made due to a lack of spot transactions on the trading platform. The Market has been available for trading almost one year. There is no sign of …

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Posted in: Massachusetts SRECs

New Jersey SREC Market Hits a Five Month High!


The New Jersey SREC market has just reached a five month high of $275.00! The market has moved up because of the release of the final version of the New Jersey Energy Master Plan and the anticipation of introduction and possible passing of solar legislation. We think there is a …

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Posted in: New Jersey SRECs, Research, SREC

New Jersey Energy Master Plan Released by the Christie Administration: Addresses SREC Price Decline


The final version of the New Jersey Energy Master Plan was released yesterday. It recommends solutions to stabilize the solar industry in NJ while at the same time reduce ratepayer impacts. It contains language that recognizes the unexpected influx of solar investing in the last year which has led to …

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Posted in: New Jersey SRECs, Research, SREC

New Jersey SREC Prices Rally Above $200 on the Spot Market on Light Volume


     New Jersey spot Solar Renewable Energy Certificate Prices traded and settled above $200 on the Flett Exchange market yesterday. The official Settlement price was $205 for the energy year 2012 SREC. (2012 energy year is energy generated between June 1, 2011 and May 31, 2012). This is the first time …

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Posted in: New Jersey SRECs, Research, SREC

Solar Owners in NJ Shocked by Lower SREC Prices


     Owners of Solar in New Jersey were shocked at the lower prices they are receiving for their Solar Renewable Energy Certificates SRECs. The new Energy Year started in June of 2011. Those SRECs were made available for transfer on the State website (GATS) on July 29th. The market price on …

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Posted in: New Jersey SRECs, Research, SREC

New Jersey Senator Bob Smith S2371 Bill May Prevent NJ SREC Oversupply


     On June 20th the New Jersey Senate Environment and Energy Committee made amendments to Senate Bill 2371. The Bill was passed in the State Senate on June 29th and now sits in the Assembly Telecommunications and Utilities Committee. Last move amendments to S2371were made on June 20th which would speed …

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Posted in: New Jersey SRECs, Research, SREC

 



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