In a successful feat, Power Exchange India Limited (PXIL) carried out the 131st session of Renewable Energy Certificate (REC) trading on July 26, 2023. This trading session marked the fourth one of the fiscal year 2023-2024 and the eighth auction session conducted under the regulations set forth by the Central Electricity Regulatory Commission (Terms and Conditions for Renewable Energy Certificates for Renewable Energy Generation) Regulations, 2022, which had been in effect since December 5, 2022.
During this session, a remarkable total of 1.06 lakh RECs were transacted, contributing to a significant trading volume. Before today’s auction, the market boasted an impressive 171.2 lakh RECs available for trade. The trading activities took place under the guidance of the Hon’ble Delhi High Court, as per their Daily Order dated May 11, 2023, which had withdrawn previous restrictions concerning the sale of RECs issued before October 31, 2022. As a result, all RECs held by selling entities were deemed eligible for transactions in the current REC session.
The session was divided into two directives:
a) Transaction in non-Solar RECs issued prior to April 1, 2017, with a floor price of Rs. 1,500 per MWh, as directed by the CERC (Central Electricity Regulatory Commission) in its Order in Petition No. 2/SM/2017 dated March 30, 2017.
b) Transactions involving RECs of various technologies, including Solar, Wind, Hydro, Small Hydro, Biomass, and other types of Renewable sources.
Directive (a) was encompassed by Session ID REC2607202301, while directive (b) was covered under Session ID REC2607202302.
