Power Ministry Notifies Norms and Standards for E-certificate trading under PAT Cycle II

The Power Ministry in consultation with the Bureau of Energy Efficiency (BEE) has notified the price of per metric tonne of oil equivalent as Rs 18,402 only for the year 2018-19, vide G.S.R 779 (E) dated December 14, 2020.

January 07, 2021. By Manu Tayal

The Power Ministry in consultation with the Bureau of Energy Efficiency (BEE) has notified the price of per metric tonne of oil equivalent as Rs 18,402 only for the year 2018-19, vide G.S.R 779 (E) dated December 14, 2020.

According to the Ministry of Power, for the succeeding target years, the price will be such amount as may be specified by the Central Government, by notification in the Official Gazette. Such price will come into force on the date of their publication in the Official Gazette, it added.

The Ministry further added that, price of one metric tonne of oil equivalent discovered for the year 2018-2019 is based on the changes in corresponding energy mix due to addition of new sectors viz. Petroleum Refinery, Railways and Electricity Distribution companies under the Perform, Achieve and Trade Scheme and further streamlining of price calculation methodology, as per notification G.S.R. 373 (E), dated March 31, 2016.

BEE is a statutory body under the Ministry of Power, Government of India. It assist in developing policies and strategies on energy conservation and efficiency with the primary objective of reducing the energy intensity of the Indian economy. It also coordinates with designated consumers, designated agencies of the states, and other related organization to identify and utilize the existing resources and infrastructure, in performing the functions assigned to it under the Energy Conservation Act.

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