PXIL successfully conducted the first Renewable Energy Certificate (REC) trading session for August 2024, in compliance with the Central Electricity Regulatory Commission’s (CERC) Order of Petition 379-MP-2024. This session marks the ninth of the 2024-25 financial year and the 30th auction session under the CERC’s 2022 regulations for Renewable Energy Certificates, which have been in effect since December 5, 2022.
During this session, a total of 5.55 lakh RECs were transacted. Prior to the auction, the market had over 364.13 lakh RECs available for trade. The trading followed the directives from the Hon’ble Delhi High Court’s Daily Order dated May 11, 2023, which lifted the previous restrictions on the sale of RECs issued before October 31, 2022. As a result, all RECs held by selling entities were eligible for transactions in this session.
The session was divided into two parts:
- Session ID REC1408202401: Focused on transactions in non-Solar RECs issued before April 1, 2017, with a floor price of Rs. 1,500/MWh, as directed by CERC’s Order in Petition no 2/SM/2017 dated March 30, 2017.
- Session ID REC1408202402: Covered transactions in RECs from various renewable technologies, including Solar, Wind, Hydro, Small Hydro, Biomass, and other renewable sources.
PXIL expressed its gratitude to all participants for their continued support of the exchange platform and looks forward to serving market participants in this and other segments throughout the year.
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