PXIL has successfully conducted 1st REC trading session for the month of July 2024, as per CERC direction in Order of Petition 379-MP-2024. This was the 7th session of FY 24- 25 and 28th auction session under Central Electricity Regulatory Commission (Terms and Conditions for Renewable Energy Certificates for Renewable Energy Generation) Regulations, 2022 that came into effect from 5th December 2022.
A total of 4.21 lacs RECs were successfully transacted in this session, prior to 10th July’s auction more than 370.13 lacs RECs were available in the market for trade. The trading happened under the directions provided by Delhi High Court in their Daily Order dated 11.05.2023 withdrawing earlier restriction regarding sale of RECs issued prior to 31.10.2022, thus, all RECs available with selling entities were eligible for transaction in 10th July’s REC session.
The sessions were conducted as: a) Transactions in non-Solar RECs issued prior to 01.04.2017 with floor price of Rs. 1,500/MWh as directed by CERC vide its Order in Petition no 2/SM/2017 dated 30.03.2017 b) Transactions in RECs of different technologies, e.g., Solar, Wind, Hydro, Small Hydro, Biomass, and other types of Renewable sources.
