Energetica India 89 - May 2020

RENEWABLE ENERGY energetica INDIA- May_2020 57 f) RECs shall be exclusively transacted on power exchanges g) REC shall be extinguished once its trades successfully on a power exchange Through an order dt. 17.09.2010, CERC approved the dou - ble-sided closed bid auction with uniform price solution as price discovery mechanism for REC transaction, i.e. all Buyers purchase at the same price and all sellers are paid at the same price. The National Load Dispatch Centre issued a detailed procedure on REC mechanism and informed that RECs would be transacted on last Wednesday of the month on the power exchanges Status of REC Market The first transaction in RECs took place on Power exchanges on 30.03.2011 and till March 2020, nearly 110 sessions have been conducted by the both the Power exchanges i.e. PXIL and IEX. Till March 2020 trading session nearly, 1.14 crore solar RECs and 5.52 crore non-solar RECs have been issued, of which nearly 1.12 crore solar RECs and 4.74 crore non-solar RECs have been redeemed on both the Power exchanges. The fig - ure below provides information about issuance and trading of RECs on yearly basis: