Important Features of RECs
Participation | Voluntary | ||
REC Denomination | 1 MWh (MegaWatt-hour) | ||
Validity | 365 Days after Date of Issuance | ||
REC Categories | 1. Solar RECs 2. Non-Solar RECs |
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Trading Platform | Power Exchange only | ||
Banking | Not Allowed | ||
Borrowing | Not Allowed | ||
Penalty Non-Compliance | Maximum Price ('Forbearance' Price) | ||
Price Guarantee | Minimum Price (Through 'Floor' Price) | ||
Transfer Type | Single Transfer Only. Repeated trades of the same certificate are not possible. | ||
Price Discovery Mechanism | Closed Double-Side Auction* | ||
Trading Calendar | Last Wednesday of the month (T Day) | ||
Trading Period | 1300-1500 hrs (T Day) | ||
Market Clearing | 1700hrs (T Day) | ||
Financial Settlement | Buyers have to pay upfront on T Day. Sellers receive on T Day + 1 |
* As advised by the CERC