CERC recently notified revised procedures for REC mechanism through an order dated 17th Feb 2014. Following are the changes:
1. REC registration applications
a. Recommendation by SA for Registration of Project under REC Mechanism in the format prescribed to be furnished along with the application.
b.Claim for refund to be made within 15 days from the day of payment. Claim made later will not be entertained.
c. Format of the declaration has been modified (Refer to the Order).
2. REC Issuance applications :
This procedure shall be applicable to all Eligible Entities, who have received Certificate of Registration‟ from the Central Agency, and shall be eligible to avail Renewable Energy Certificates from the date of commercial operation or from the 00:00 hrs of next day of Registration date of such plant by the Central Agency whichever is later.
This deviates with the 2nd amendment of the REC regulations which says
“After registration, the renewable energy generation plant shall be eligible for issuance of Certificates under these Regulations from the date of commercial operation or from the date of registration of such plant by the Central Agency whichever is later”
a. Central Agency shall not issue RECs during the trading session at the Power Exchange.
b. The Eligible Entity shall apply for issuance of RECs within six (6) months from the month in which RE was generated and injected into the electricity grid. At least 6 clear working days are available to Central Agency for considering the application.
c. The application for issuance of Renewable Energy Certificates may be made on 10th, 20th and last day of the month.
3. Retention of RECs:
a. SA to accept application for retention of RECs and shall issue ‘certificate of purchase’ of RECs to the buyer.
b. Eligible entity to apply it online from 1st to 5th of every month.
c. Hard copy of the application has to be submitted by 9th of every month to SA.
d. SA to check the proposed volume and application by 15th of every month.
e. SA to inform CA of list of RECs which will be by 22nd of every month.
4. REC Accreditation application:
The RE generator shall obtain a certificate from the concerned distribution Licensee for the connected load in case of co-generation plants. The Distribution Licensee shall issue such certificate within 15 days from the date of application by the RE Generator and the RE Generator shall submit it to State Agency along with application for accreditation.