The Central Electricity Regulatory Commission (CERC) has issued an order extending the validity of Renewable Energy Certificates (RECs) that are due to expire between October 31, 2018 and March 31, 2019.
According to the commission, 183,999 RECs (38,651 Solar RECs and 1,45,348 non-solar RECs) issued before April 1, 2017 are due to expire within the next six months and thus their validity should be extended. Now, the RECs which set to expire between October 31, 2018 and March 31, 2019 will remain valid up to April 31, 2019.
Earlier, the CERC had extended the validity of another set of RECs that were going to expire on May 14, 2018 up to October 30, 2018. In addition, the validity of RECs likely to expire between May 15, 2018 and October 30, 2018 was extended up to October 30, 2018. Prior to that, the Supreme Court has extended the validity of solar and non-solar RECs due to expire between April 1, 2017, and March 31, 2018, up to March 31, 2018.
REC trading witnessed an unprecedented spike in September 2018. 1,558,062 solar RECs were traded during the month, 1,071,933 more solar RECs than the 486,129 solar RECs traded in August 2018.