Gist of the proposed amendments:
- Power sold at “APPC” will be eligible for REC rather than at present or below APPC. This will help in maintaining equilibrium.
- As a penalty for disqualification for RE captives from REC mechanism, removal of ‘waiver of electricity tax’.
- RE projects that do not fall under category of a captive generating plants to obtain benefits such as RECS for self consumption portion , will have to relinquish benefits of preferential wheeling/banking
- Application for REC issuance should be done within 6 months of generation (presently it is 3 months), and on the 10th/ 20th or last day of the month
- Captive generating plants to be permitted retention of RECs for their own compliance , presently they are exchanged through trading.
- Clarification change on issuance of RECs – RECs to be issued for generation for the date of commissioning or registration, whichever is later
- 730 days extension for shell life of RECs
- Clarificatory change related to capacity under generation. This will particulalry apply to bagasse based co-gen projects some which sell partial capacity under PPA.
- A more lucid approach on eligibility of projects under competitive bidding and on the minimum capacity of a project.
For more information, please go through the following document: CERC REC Regulation_Second Amendment