PXIL successfully conducted its first REC trading session for September 2024, in line with the CERC’s directives in Order of Petition 379-MP-2024. This session marked the 11th of the fiscal year 2024-25 and the 32nd auction session under the Central Electricity Regulatory Commission (Terms and Conditions for Renewable Energy Certificates for Renewable Energy Generation) Regulations, 2022, which have been in effect since December 5, 2022.
During this session, a total of 2.90 lakh RECs were transacted. Prior to this auction, there were over 455.42 lakh RECs available in the market. The trading occurred following the 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 this session.
The trading sessions were conducted as follows:
a) Transactions of non-Solar RECs issued before April 1, 2017, with a floor price of Rs. 1,500/MWh, as per CERC’s Order in Petition No. 2/SM/2017 dated March 30, 2017, were covered under Session ID REC1109202401.
b) Transactions of RECs across various technologies, including Solar, Wind, Hydro, Small Hydro, Biomass, and other renewable sources, were covered under Session ID REC1109202402.
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