Comparison
STC trading rates comparison: how to compare fairly
In short
STC spot has been roughly $38-40 with a $40 clearing house ceiling, so providers differ mainly on fees, rate lock and payment timing. Convert every quote to net dollars per certificate on the day money arrives, in writing.
The lowest headline price and the best result are rarely the same thing. This page explains how to compare STC trading rates between providers on a like-for-like basis, what the market looks like at the time of writing, and why we do not publish a table of other providers’ rates. Rates move daily and most providers either do not publish them or publish them only to partners.
What the market looks like
At the time of writing (2 Oct 2026) the STC spot market has been roughly $38-40 per certificate. The Clean Energy Regulator’s clearing house ceiling is $40. Because buyers are working within that narrow band, the difference between providers is usually fees, timing and risk rather than a large gap in the quoted price. What an STC is worth in 2026 gives more context. Energy Merchants’ published buy rate is on /pricing/ and changes daily.
Why we do not list competitors’ rates
A competitor’s rate on a given day is theirs to publish. Of the providers we looked at on 2 Oct 2026, most did not publish a rate on the pages we read, and a rate quoted in a call is not a comparable data point. Reproducing a screenshot from a month ago would be misleading. So we show you how to compare instead, and encourage you to ask each provider for its rate in writing.
Converting a rate to what you receive
Use net dollars per certificate: rate, less every fee and deduction, at the date money arrives. Here is a hypothetical, with invented numbers, to show the arithmetic.
| Provider A | Provider B | |
|---|---|---|
| Quoted rate per STC | $38.00 | $37.60 |
| Fee per STC | $1.00 | $0.00 |
| Net per STC | $37.00 | $37.60 |
| Net on 100 STCs | $3,700 | $3,760 |
The provider with the higher headline rate pays less. These figures are illustrations only and describe no real provider.
Four things that change the number
- Fees. Processing, admin, registry or subscription charges, in any form.
- Rate lock. Is the rate fixed when you lodge a complete claim, or does it float until the certificate registers?
- Timing. A rate paid in five business days is worth less than the same rate paid in one, especially for a business funding stock.
- Rejection risk. Who bears the cost if a certificate is later invalidated?
Side by side: what to check
| What to check | Energy Merchants | Another provider |
|---|---|---|
| When you are paid | 24-hour settlement for established partners; first claim 48-72 hours | Ask, in writing; not covered in what we read |
| Fees and deductions | Zero fees | Ask for the net dollars per certificate; not covered in what we read |
| Rate | Published daily, locked on lodgement of a complete claim | Ask when the rate is fixed; not covered in what we read |
| Who checks the claim | Compliance desk pre-checks every claim | Ask who reviews photos, forms and serials; not covered in what we read |
| Who you deal with | Named account manager | Ask; not covered in what we read |
| Backing | REC Traders, trading since 2004, Smart Energy Council member | Ask who the buyer of the certificates is; not covered in what we read |
Energy Merchants’ column holds only things we can stand behind in writing. The other column is for the answers you collect.
A fair note on trade-offs
A slightly lower rate with no fees, a locked rate and faster settlement can leave you ahead. A slightly higher rate with deductions and a longer wait may not. A named contact and a pre-check that catches errors can save more than a few cents. Do the sum, and include the cost of a rejected claim.
Where to go next
Our guide on how to compare STC traders has the ten questions, the STC trader comparison maps the market, and how long STC payment should take covers timing. To see today’s number from us, visit /pricing/ or start trading.
How we wrote this. Energy Merchants is a certificate trader, so we have a horse in this race. Statements about other providers are taken from their own public websites on the date shown above and are attributed. If something here is out of date, tell the desk and we will fix it.
Sources: Formbay website (homepage) · Green Energy Trading website · Ecovantage website
Questions
Before you decide
What is the STC rate today?
Why not just pick the highest rate?
Do other providers publish their rates?
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