Mumbai/New Delhi, 25 October2021: Power Exchange India Limited (PXIL) today announced the launch of ESCerts Trading under Perform, Achieve and Trade (PAT) scheme – cycle II. The trading on the platform will commence from 26th October 2021.The company had conducted a mock trading session on 8thOctober 2021, which received encouraging reception.
‘ESCerts’ are the Energy Savings Certificates issued by the Central Government in the Ministry of Power to the Designated Consumer under sub-section (1) of section 14 (A) of Energy Conservation Act, 2001. ESCerts is a tradable certificate for EE mandates under Energy Conservation Act 2001. The validity of ESCerts will be upto the next PAT cycle (currently the 2ndcycle in progress). ESCerts will be transacted every Tuesday of the Week on PXIL platform or as decided by CERC/BEE.
Under National Mission for Enhanced Energy Efficiency (NMEEE), the scheme of Perform, Achieve and Trade (PAT) is a regulatory instrument to reduce specific energy consumption in energy-intensive industries, with an associated market-based mechanism to enhance the cost-effectiveness through certification of excess energy saving which can be traded.
Commenting on ESCerts Trading, Mr. Prabhajit Kumar Sarkar, MD & CEO, PXIL said “ESCerts trading will take forward and diversify amongst participants the benefits of the PAT Cycle-II, which has reportedly prompted savings of 13.28 million toe of energy for the country resulting in absolute saving of more than Rs. 30,000 Crs. for sustainable growth of the country.
We have achieved major market share in REC and TAM market by continuously fulfilling the transactional needs of the market participants through PXIL’s robust transaction platform. In ESCerts too, we seek to serve all market participants to fulfil their energy savings requirements.”
Perform Achieve and Trade (PAT) scheme as launched by the Bureau of Energy Efficiency has resulted in significant improvements in energy efficiency in energy-intensive industries. PAT Cycle –I included eight sectors namely Aluminium, Cement, Chlor- Alkali, Fertilizer, Iron & Steel, Paper & Pulp, Thermal Power Plant and Textile. Under the scheme PAT cycle -II three new sectors namely Refineries, Railways and DISCOMs were included – making it 11 sectors (eight existing sectors and three new sectors), resulting in a total saving of about 13.28 MTOE translating into avoiding about 61.34 Million tonnes of Carbon dioxide emission.
PXIL, promoted by NSE (National Stock Exchange of India Ltd.) & NCDEX (National Commodity and Derivatives Exchange), has Power Finance Corporation, state utilities like Gujarat Urja Vikas Nigam Limited (GUVNL), Madhya Pradesh Power Management Company Limited (MPPMCL), West Bengal State Electricity Distribution Company Limited (WBSEDCL) and private sector energy companies like JSW Energy Limited, Tata Power Trading Company Limited, GMR Energy Limited.
PXIL has revolutionized the way Indian power markets operate by providing innovative and credible solutions. PXIL’s electronic transaction platform facilitates the trading of electricity at a national level, with users ranging from State Utilities and State Procurement agencies, industrial consumers, independent power producers as well as captive power producers. Thanks to the institutional ownership and leveraging the strength of the promoters of running an exchange for over 20 years, robust risk management, ethical business principles and sound governance form the bedrock of PXIL’s operations.
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