Trading Of Energy Saving Certificates Now Stands Approved
Post on 02,September 2017   6:00 AM
By - PolyEyes Staff
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Under the Draft Energy Savings Certificates regulations, Central Electricity Regulatory Commission (CERC) has approved the trading of ESCs on power exchanges. ES-Certificates were introduced in 2013 by the Bureau of Energy Efficiency (BEE) for industries which achieved energy efficiency standards.

Additional features for efficient execution of this proposal:

The Bureau of Energy Efficiency has been assigned the role of administrator for exchange of ESCs while the Power System Operation Corporation Limited will be performing the role of registry of the ESCs. CERC will supervise and approve the procedures as framed by the administrator from time to time. It is also supposed to exercise market oversight over the power markets.

What is Perform Achieve and Trade Scheme? It is a scheme under the National Mission on Enhanced Energy Efficiency which was introduced as a measure to control amounts of specific energy consumption in energy-intensive industries. It will be a measure for major industries like thermal power, fertilizer, cement and specific market based mechanism would allow the trading of Energy Saving Certificate.

These Energy Saving Certificates are issued by Bureau of Energy Efficiency or Ministry of Power.

One certificate is equal to the energy consumed in terms of one metric tons of oil equivalent abbreviated as mtoe.

Renewable Energy Certificates: These certificates cater to the unavoidable mismatch between availability of Renewable Energy sources and mandatory Renewable Purchase Obligations, in order to appropriate the energy to the necessities. Its value is equivalent to 1 MWh of electricity injected from renewable energy sources.

Significance of the move:  The long-term need of a robust, transparent and efficient platform to exchange energy saving certificates will be catered by this move. It would also give an integrated solution in terms of common window for the power exchanges like Indian Energy exchange making it one-stop shop to buy and sell Electricity, Renewable Energy Certificates and ESC’s.

Conclusion: Trading of the ESCs through power exchanges is a welcome step. The government should also setup a floor price to the ESCerts so that in case of oversupply of them, their prices do not fall below market prices.

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