REC trading market shrinks to 0.92 million in 2020-21

The renewable energy certificates market shrank to 0.92 million RECs in 2020-21, as against trading of 8.92 million and 12.6 million RECs recorded in 2019-20 and 2018-19 respectively.

An inventory of 6.06million RECs has been piled up till March 31, 2021, includes 0.77 million solar and 5.28 million non-solar green certificates. The REC or green certificate trades were suspended in July 2020 after the Appellate Tribunal for Electricity (APTEL) decided to postpone the trading by four weeks while hearing three separate petitions related to an issue of fixing floor and forbearance prices of RECs by the Central Electricity Regulatory Commission (CERC). This also impacted the ability of distribution companies to meet their renewable purchase obligation (RPO).

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