PXIL Sets the Pace with Successful 137th REC Trading Session

In a noteworthy achievement, Power Exchange India Limited (PXIL) has triumphantly concluded its 137th Renewable Energy Certificate (RECs) trading session. The event took place in accordance with the Central Electricity Regulatory Commission (CERC) directive outlined in Order of Petition 379-MP-2024, marking the second REC trading session for the month of November 2023.

This session, the ninth of the fiscal year 2023-24, marked the thirteenth auction under the Central Electricity Regulatory Commission (Terms and Conditions for Renewable Energy Certificates for Renewable Energy Generation) Regulations, 2022, which came into effect on December 5, 2022.

A significant total of 3.28 lakh RECs were successfully transacted during this session, with a market surplus of over 164.23 lakh RECs available for trade before today’s auction. The trading transpired in alignment with the directives of the Hon’ble Delhi High Court, as per their Daily Order dated May 11, 2023, rescinding previous restrictions on 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 sessions were organized into two directives:

a) Transactions in non-Solar RECs issued prior to April 1, 2017, with a floor price of Rs. 1,500/MWh, as directed by CERC vide its Order in Petition no 2/SM/2017 dated March 30, 2017.

b) Transactions in RECs of different technologies, including Solar, Wind, Hydro, Small Hydro, Biomass, and other types of Renewable sources.

Directive (a) was covered under Session ID REC2911202301, and directive (b) was covered under Session ID REC2911202302.

Expressing gratitude, PXIL acknowledges the support of all participants in contributing to the success of the exchange platform in the renewable energy segment throughout the year. The organization looks forward to continuing its service to all market participants in this and other segments in the future.