Buying and selling of RECs is completed on the final Wednesday of each month on the Indian Power Change (IEX) and the Energy Change India (PXIL).
The inexperienced certificates buying and selling was stopped in July this 12 months after the Appellate Tribunal for Electrical energy (APTEL) determined to postpone the buying and selling by 4 weeks, whereas listening to three separate petitions associated to a problem of fixing flooring and forbearance costs of RECs by the Central Electrical energy Regulatory Fee (CERC).
Speaking to PTI on the problem, PXIL Managing Director and Chief Government Officer Prabhajit Kumar Sarkar stated, “APTEL has concluded the listening to expeditiously and reserved its judgement. We hope that the order on case can be issued quickly and REC buying and selling could resume this month solely, on October 28.”
IEX Company Communication Head Shruti Bhatia stated, “The REC buying and selling must be resumed on the soonest. We actually hope that APTEL provides its closing order quickly in order that inexperienced certificates buying and selling may be resumed this month solely on October 28 with none additional delays.”
In accordance with the most recent replace on the case obtainable on the APTEL portal, the arguments on the three petitions are concluded and judgement is reserved.
It additionally says that the interim order, if any, shall proceed until the judgment is pronounced.
Which means the REC buying and selling wouldn’t be finished until the ultimate judgement is pronounced as a result of APTEL had postponed the inexperienced certificates buying and selling in its interim order.
Earlier in July, the APTEL had postponed the buying and selling of REC scheduled on July 29 by 4 weeks until August 26, after listening to three separate appeals filed by the Inexperienced Power Affiliation, the Indian Wind Energy Affiliation and Techno Electrical and Engineering Firm Ltd in opposition to the CERC order issued on fixing REC flooring and forbearance costs.
REC buying and selling was not finished on August 26 in addition to September 30, consequently.
Within the order issued on August 26 after listening to the three appeals once more, APTEL stated, “Interim order, if any, shall proceed until the following date of listening to… Checklist the matter for listening to on September four and 5.”
In accordance with a CERC order in June, the ground worth of photo voltaic and non-solar RECs has been lowered to zero from Rs 1,000 earlier.
Equally, the forbearance (ceiling) worth of photo voltaic and non-solar was lowered to Rs 1,000 for each from Rs 2,400 and Rs 3,000, respectively.
The forbearance worth and flooring worth fastened by the CERC are efficient from July 1, 2020 to June 30, 2021 or till additional orders of the Fee.
In June, the Supreme Courtroom had refused to entertain Inexperienced Power Affiliation’s (GEA) attraction on stopping REC worth revision by the CERC.
Trade specialists had been of the view that larger REC costs put extra burden on customers in energy tariff.
Below the renewable buy obligation (RPO), bulk purchasers like discoms, open entry customers and capacitive customers are required to purchase a sure proportion of RECs. They’ll purchase RECs from renewable power producers to satisfy the RPO norms.
One REC is created when one megawatt hour of electrical energy is generated from an eligible renewable power supply.
Gross sales of renewable power certificates declined over 29 per cent to 89.27 lakh models in 2019-20, in comparison with 1.26 crore models in 2018-19.