CERC revises REC floor and forbearance prices

The Central Electricity Regulatory Commission (CERC) has revised the forbearance and floor prices for non-solar renewable energy certificates (RECs) from Rs 5,800 to Rs 2,500 and for solar RECs from Rs 3,500 to Rs 1,000. The revision has been due to the decline in demand for RECs and reduction in renewable energy equipment prices. The new pricing considers the variation in the cost of generation of renewable energy technologies, variation in the average pooled cost of power, expected electricity generation from renewable energy sources and renewable purchase obligation targets. The decline in prices is expected to escalate REC trades.

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