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Discoms improve renewable energy purchase compliance
Financial Express Mumbai
|March 26, 2024
Exchanges’ REC price drop due to surplus certificate availability
RECORD-LOW PRICES OF renewable energy certificates (RECs) on power exchanges have empowered power distribution companies (discoms) to enhance compliance with their renewable purchase obligations (RPOs) in the current financial year.
In the last trading session on March 13, REC prices hit an all-time low on the Indian Energy Exchange, dropping to ₹300 per certificate, compared to the previous floor of ₹1,000. The upcoming trading session is scheduled for March 26.
For many years till FY23, discoms' compliance with RPO stood at around 60%, but it improved to 90% in the last fiscal year.
Analysts suggest that this year's compliance could mirror last year's, though they note that achieving 100% compliance would have been feasible if not for the decline in hydropower generation.
This story is from the March 26, 2024 edition of Financial Express Mumbai.
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