In partial modification of it’s order dated July 4, 2014, the Karnataka Electricity Regulatory Commission (KERC) has reduced the banking period of non-renewable energy certificate (REC)-based projects from one year to six months. For solar power projects, the period from April to September and October to March has been set as the banking period. For wind and mini-hydel power projects, the banking period has been set as January to June and July to December respectively. In addition, energy banked by non-REC-based projects during the peak time-of-day (ToD) hours can only be drawn during the ToD hours. The unutilised banked energy remaining at the end of six months will be purchased by the discom at 85 per cent of the generic tariff applicable during the period. The new regulation will be valid from July 1, 2018 for wind and mini-hydel projects and from April 1, 2018 for solar projects.