Supreme Court dismisses GEA’s appeal on REC price revision by CERC

A Supreme Court bench turned down the application of the Green Energy Association (GEA) to put a stay on price revision of renewable energy certificates (RECs) by the Central Electricity Regulatory Commission (CERC). The GEA contended that for each REC that it holds, the company should get 3.5 certificates due to the minimum value being reduced from Rs 3,500 to Rs 1,000 by the CERC. Earlier, the Appellate Tribunal for Electricity had also dismissed petitions filed by the GEA against the issue of new forbearance and floor prices for solar and non-solar RECs by the CERC. The price band of floor price to forbearance price for solar RECs was changed from Rs 3,500-Rs 5,800 to Rs 1,000-Rs 2,400.

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