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University Area Joint Authority Uses Nutrient Trading To Meet Chesapeake Bay Standards
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At its regularly scheduled meeting on Wednesday the University Area Joint Authority approved the purchase and registration of approximately 25,000 net nitrogen credits with Mercuria Energy America, Inc. for compliance with the State and Federal mandates for reduced Nitrogen and Phosphorus pollution to the Susquehanna River and the Chesapeake Bay.
As an early participant in the Nutrient Trading for the first year of watershed compliance, the University Area Joint Authority relied upon Mercuria’s extensive trading experience in Environmental products within the United States.
Mr. Cory Miller, Executive Director of the University Area Joint Authority remarked that “Mercuria provided the Authority a cost-effective means of compliance with our permit requirements. Their comprehensive knowledge of the market and large, stable supply of credits were certainly factors in our decision.”
Began by the Department of Environmental Protection as a method to promote the most cost-effective implementation of nutrient removal across the Pennsylvania portion of the Chesapeake Bay, Nutrient Trading allows municipal and industrial wastewater treatment plants to purchase “credits” from projects or facilities that are exceeding their removal requirements and apply them to their own discharges.
“This method of environmental attribute trading allows municipalities to work with companies like Mercuria to develop a lowest cost approach to traditional brick and mortar solutions.” states Larry She, Director of Environmental Trading for Mercuria. “Additionally, Mercuria is actively engaged in longer term, twenty year, fixed price contracts for nutrient credits to allow municipalities to achieve compliance without worrying about price fluctuations and market supplies that can negatively affect the stability of user rates.”
Continuing its commitment to environmental excellence, the University Area Joint Authority provides sanitary sewer and water recycling services to the greater State College and Centre Regions. Its staff and management provide effective operation of miles of sewage collection systems, pumping stations, state-of-the-art wastewater treatment plant and water reuse facilities.
Mercuria is a privately owned international group of companies active over a wide spectrum of global energy markets. It is a global business with 28 offices across 5 continents and employs 800 people worldwide.
The Environmental Products desk of Mercuria is active in the United States and Canada trading products related to renewable natural gas, renewable power, air emissions reductions and water pollution reductions.
For more information on trading, visit DEP's Nutrient Trading Program webpage.
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9/26/2011 |
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