Indian Energy Exchange (IEX) in a release said that it would be resuming trading in renewable energy certificates (REC) effective Wednesday, November 24, 2021.
The resumption in trading after a 16-month hiatus follows APTEL’s order dated November 9, 2021, followed by CERC’s order dated November 18, 2021. The last REC trade on IEX had taken place in June 2020.
T&D India, on November 22, 2021 had reported that CERC ordered that RECs affected by CERC’s order dated June 17, 2020, will now be considered valid. It was this order of June 17, 2020, which resulted in suspension of trading in RECs on power exchanges. (Read more)
Commenting on the development Rohit Bajaj, Head- Business Development and Senior Vice President, Indian Energy Exchange said, “We are pleased to re-commence trade in the REC Market. REC has been a vital market-based instrument for obligated entities such as distribution utilities, open access consumers, and captive power plants for meeting their RPO in the most competitive and efficient manner. IEX pioneered trade in REC market in the year 2010. The Exchange has cumulatively traded 390 lacs renewable energy certificates since commencement of the market in the year 2010, and has been playing a significant role in supporting the transition to a sustainable energy economy.”
PXIL also to resume
A spokesperson of Power Exchange of India Ltd (PXIL) confirmed that PXIL will also be resuming trading in RECs, effective November 24, 2021.