Non-Solar REC

REC Trading Report – February 2013

Non-solar RECs Demand decreased to 153,000 RECs (down 21% from Jan 2013) this trading session. The compliance period for this financial year will end in March 2013, leaving only one more trading session to go. Given that, the overall demand remains very disappointing. As we have mentioned earlier, till stronger Read more…

By VP, ago
Regulation

CERC Extends REC Validity to 730 Days

CERC in an order dated 11-Feb-2013, relaxed the provisions of regulation 10(1) of its CERC (Terms & Conditions for issuance of Renewable Energy Certificate for Renewable Energy) Regulation, 2010. Spreading an air of respite for the RE Generators, CERC extended the validity of RECs from 365 days to 730 days Read more…

By VP, ago
Renewable Portfolio Obligation (RPO)

Wind Associations take weak RPO enforcement issue to APTEL

In the wake of the recent fear for a complete market failure of the Renewable Energy Certificate Markets in India, prominent wind power associations have knocked the doors of Appellate Tribunal for Electricity (APTEL) against various state and central electricity regulatory commissions. Indian Wind Energy Association and the Indian Wind Turbine Manufacturers Association, submitted a petition against regulatory commissions in the APTEL for weak enforcement of renewable purchase obligations (RPO), which was admitted by the APTEL.

REC mechanism which is the only scheme presently available for Wind power investors to offset their additional cost of generating green power, after withdrawal of the GBI scheme and the AD benefit has come to the verge of a total collapse. A mechanism which was proposed to encourage the growth of renewable energy in the total energy mix of the nation has failed to draw enough buyers in the recent trade sessions. January 2013 trading session witnessed a total volume cleared of mere 1,93,337 RECs leaving an inventory of 17.8 lakh RECs (for detailed REConnect's Analysis refer).

According to an article in Business line (refer) , the petition read as – “ Such non-compliance is continuing with the silent approval of various State Commissions, at the cost of the renewable energy generators. The petitioners fear that such non-compliance, if permitted to go unchecked, may ultimately lead in the failure of the renewable energy certificate market,” With just over a month left before the current financial year coming to an end, market sentiments rely heavily on the much awaited push from the government to revive the mechanism. (more…)

By Team REConnect, ago