SWAINTON — The Cape May County Municipal Utilities Authority (MUA) Board of Directors discussed a three-year contract with the Chicago Climate Exchange to sell carbon credits on behalf of the authority for its thermal destruction of methane gas through internal combustion at the landfill.
Instead of polluting the air with carbon dioxide, the authority uses the electric power of converted methane gas to power the Woodbine Developmental Center.
At its height, the authority could receive $6.60 per unit but now that price is down to $1.60 per unit.
Carbon credits brought in $225,000 of revenue within a seven-month period when the MUA sells them to entities that do not put additional air control systems on themselves, Executive Director Charles Norkis said.
However, because of the drop in price, Norkis said the MUA “intends to hold onto them” until units can be sold at a higher price.
The MUA destroys 650,000 cubic feet of methane gas per day.
“We’re doing well for getting money for nothing,” Board member William Burns, Jr. said.
