Power Exchange India Limited (PXIL) has triumphantly completed its 132nd session of Renewable Energy Certificate (REC) trading, marking the fifth session of the fiscal year 2023-24 and the ninth auction session under the Central Electricity Regulatory Commission (CERC) (Terms and Conditions for Renewable Energy Certificates for Renewable Energy Generation) Regulations, 2022, effective since December 5, 2022.
In this highly anticipated session, a total of 0.80 lac RECs were effectively transacted. Prior to the auction, the market boasted an impressive 161.2 lacs RECs available for trade. This trading activity followed the directives set forth by the Hon’ble Delhi High Court’s Daily Order dated May 11, 2023, which lifted previous restrictions on the sale of RECs issued before October 31, 2022. Consequently, all RECs held by selling entities were eligible for transactions during this session.
The trading was conducted in two segments:
a) Transaction in non-Solar RECs issued before April 1, 2017, adhering to the floor price of Rs. 1,500/MWh as mandated by the CERC in its Order in Petition no 2/SM/2017 dated March 30, 2017.
b) Transactions in RECs of various technologies, including Solar, Wind, Hydro, Small Hydro, Biomass, and other renewable sources.
Directive (a) was encompassed within Session ID REC3008202301, while directive (b) was incorporated into Session ID REC3008202302.
PXIL extends its gratitude to all participants for their unwavering support of the exchange platform in this segment throughout the year. The organization eagerly anticipates continuing to serve all market participants in this and other segments in the future.
