- IEX to commence trade in Energy Saving Certificates under PAT Cycle- II on 26October 2021
- Trading to take place once a week on every Tuesday
- PAT- II Cycle 621 Designated Consumers spanning across 11 Industry Sectors
New Delhi, Tuesday, 26 October 2021: The Indian Energy Exchange, India’s premier energy trading platform, is pleased to announce the commencement of trade in Energy Saving Certificates (ESCerts) under Perform, Achieve & Trade Cycle-II (PAT-II) scheme apropos the notification dated 31March 2016 as issued by the Bureau of Energy Efficiency (BEE), Ministry of Power.
The trading on the Exchange will happen once a week on every Tuesday.
PAT-II aims at achieving an overall energy savings of 8.87 MTOE and covers 621 Designated Consumers spanning across 11 energy intensive industry sectors. Petroleum refinery, railways and power distribution utilities have been added under PAT-II besides the eight industries including cement, thermal power plant, iron and steel, textile, aluminum, fertilizer, chlor-alkali, paper and pulp that continue to be included from PAT-I.
The National Load Despatch Center (NLDC), which is the nodal agency for ESCerts trade in accordance with the CERC ESCerts Regulations 2016 has already commenced the process of registration of the DC as eligible entities w.e.f. 23 August’21
A total 349 DCs can sell and 193 DCs are expected to participate on the buy side as per the BEE notification dated 18 August’21. The Ministry of Power has already issued 57 lakh EScerts to 349 DCs and about 193 DCs are entitled to purchase 36.68 lakh ESCerts as per the BEE.
Speaking on the occasion, S N Goel, Chairman and MD, Indian Energy Exchange Limited, “PAT scheme has been playing a crucial role in promoting industrial energy efficiency. IEX pioneered trade in ESCerts in 2018 under PAT cycle I which covered 478 DCs from 8 energy intensive sectors. PAT-1 overachieved its target with realization of a total of 8.67 MTOE energy savings with 31 million tons of CO2 emissions against the set target of 6.68 MTOE. About ~13 lacs ESCerts worth Rs. 100 crores were traded under PAT I at IEX which resulted in net savings to the tune of Rs 9,500 crores. After the success of PAT I cycle, IEX is excited to commence ESCert trade under PAT II. We have maximum liquidity on our platform to enable the market participants to trade in the most competitive and efficient manner.”
ESCerts trading is regulated by Central Electricity Regulatory Commission (CERC) with BEE as the Administrator and Power System Operation Corporation Limited (POSOCO) as the Registry for registering Designated Consumers as eligible entities, trading and book-keeping of ESCerts. Trading of ESCerts takes place exclusively on the Power Exchanges as per the CERC ESCerts Regulations 2016.
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ABOUT IEX
IEX is India’s premier energy exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable energy, renewable energy certificates and energy saving certificates. The exchange platform enables efficient price discovery and increases the accessibility and transparency of the power market in India while also enhancing the speed and efficiency of trade execution. The Exchange is ISO Certified for quality management, Information security management and environment management since August 2016. The Exchange is a publicly listed company with NSE and BSE since October 2017 and is approved and regulated by Central Electricity Regulatory Commission since 27 June 2008. For further details, log on to: www.iexindia.com
| Ms. Shruti Bhatia
Head–Corporate Communication & CSR Telephone: +91-0120-4648100 I +91-9654352741 Email: shruti.bhatia@iexindia.com |
Mr. Suhas Tadas
The PRactice (On behalf of IEX) Telephone: +91-8010486299 Email:suhas@the-practice.net |