IEX Begins Trading Energy Saving Certificates, Energy News, ET EnergyWorld

New Delhi: The country’s leading energy exchange platform, Indian Energy Exchange (IEX), announced on Tuesday that it has started trading in Energy Saving Certificates (ESCerts). IEX started to market “ESCerts under the Perform, Achieve and Trade Cycle-II (PAT-II) program in connection with the notification dated March 31, 2016 issued by the Bureau of Energy Efficiency (BEE), Ministry of Power “, an IEX Statement says.

Trading on the IEX will take place once a week, every Tuesday.

PAT-II aims to achieve overall energy savings of 8.87 megatonnes of oil equivalent (MTOE) and covers 621 Designated Consumers (DC) in 11 energy-intensive industrial sectors.

Oil refineries, railways, and electric utilities have been added to PAT-II in addition to the eight industries, including cement, thermal power plants, iron and steel, textiles, l aluminum, fertilizers, chlor-alkali, paper and pulp which continue to be included in the PAT. -I.

The National Load Shipping Center (NLDC), which is the nodal agency for the trade of ESCerts under the CERC ESCerts 2016 regulations, has already started the process of registering DC as eligible entities as of 23 August 2021.

A total of 349 DC can sell and 193 DC are expected to participate in the purchase according to the BEE notification of August 18, 2021. The Department of Energy has already issued 57 lakh EScerts to 349 DC and approximately 193 DC are entitled to buy 36.68 lakh ESCerts according to BEE.

SN Goel, President and CEO of IEX, said: “The PAT program has played a crucial role in promoting industrial energy efficiency. IEX pioneered the ESCerts trade in 2018 as part of the PAT I cycle which covered 478 DCs from 8 energy intensive sectors.

“PAT-1 exceeded its target with the achievement of a total of 8.67 MTEP (million tonnes equivalent) of energy savings with 31 million tonnes of CO2 emissions compared to the set target of 6.68 MTEP. ”

About 13 lakh ESCerts worth Rs 100 crore were traded under PAT I at IEX resulting in net savings in the amount of Rs 9,500 crore. Following the success of the PAT I cycle, IEX is excited to start ESCert trading under PAT II, ​​Goel said.

“We have maximum liquidity on our platform to allow market participants to trade in the most competitive and efficient manner.”

The trade of ESCerts is regulated by the Central Electricity Regulatory Commission (CERC) with BEE as administrator and Power System Operation Corporation Limited (POSOCO) as registry for the registration of DCs as eligible entities, the trade and the accounting of ESCerts.

ESCerts are traded exclusively on electricity exchanges in accordance with the CERC ESCerts 2016 regulations.

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