In a significant development, Power Exchange India Limited (PXIL) has successfully conducted the 133rd session of Renewable Energy Certificate (REC) trading for the month of September 2023. This trading session marked the sixth session of the fiscal year 2023-24 and the tenth auction session conducted under Central Electricity Regulatory Commission (CERC) (Terms and Conditions for Renewable Energy Certificates for Renewable Energy Generation) Regulations, 2022, which came into effect on December 5, 2022.
Before delving into the specifics of this momentous session, it’s noteworthy that a substantial number of 168.1 lac RECs were available in the market for trade before the commencement of today’s auction.
The recent REC trading session unfolded under the guidance of the Hon’ble Delhi High Court, which, in its Daily Order dated May 11, 2023, revoked earlier restrictions regarding the sale of RECs issued prior to October 31, 2022. Consequently, all RECs held by selling entities were eligible for transaction in today’s REC session.
The trading session was structured into two segments:
- Transaction in non-Solar RECs: These RECs were issued before April 1, 2017, and the floor price for this segment was set at Rs. 1,500 per megawatt-hour (MWh). This directive was in alignment with CERC’s Order in Petition no 2/SM/2017 dated March 30, 2017.
- Transactions in RECs of various technologies: This encompassed Solar, Wind, Hydro, Small Hydro, Biomass, and other forms of renewable energy sources.
Directive (a) was meticulously covered under Session ID REC2709202301, while directive (b) was efficiently addressed through Session ID REC2709202302.
PXIL expressed its gratitude to all the participants for their unwavering support towards the exchange platform in this segment throughout the year. The organization remains committed to serving the needs of all market participants in this and other segments in the future.