Sales of renewable energy certificates declined over 22 percent to 1.25 crore units this fiscal on ndian Energy Exchange (IEX) and Power Exchange of India (PXIL) as compared to 1.61 crore in 2017-18, mainly due to lower inventory (supply), according to official data.
The trading of renewable energy certificates (RECs) is conducted on the last Wednesday of every month. Under the renewable purchase obligation (RPO), bulk purchasers like discoms, open access consumers and capacitive users are required to buy certain proportion of renewable energy or RECs.
They can buy RECs from renewable energy producers to meet the RPO norms. The proportion of renewable energy for utilities are fixed by the central and state electricity regulatory commissions. ,An official said that the IEX saw a total trade of 9.34 lakh in March compared to 20.79 lakh in the same month last year.