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811k VEECs were created in May, which was again higher than the previous month (April, 733k) and the largest monthly creation since October 2012.
The high levels of creation were primarily the result of increased activity under Commercial Lighting (Schedule 34), which overtook Activity 21 (Incandescent Lighting) for the first time with 392k and 368k certificates respectively.
STC creation picked up in May, exceeding the required target for 2 weeks. However the year to date average creation continues to remain noticeably below the rate required for the 2016 target, running at an average of 285,000 STCs .
*The spot price is for a minimum parcel size of 5000 created certificates.
Prices are compiled using the latest reported market data.