Renewable Energy Certificate Trading through Power Exchanges in India

Authors

  • Girish G P Department of Finance, IBS Hyderabad, IFHE University (a Deemed to-be-University under Section 3 of UGC Act 1956), India
  • Sashikala P Department of Operations IBS Hyderabad, IFHE University (a Deemed to-be-University under Section 3 of UGC Act 1956) Andhra Pradesh, India
  • Bharath Supra Department of Finance IBS Hyderabad, IFHE University (a Deemed to-be-University under Section 3 of UGC Act 1956) Andhra Pradesh, India
  • Anitha Acharya Department of Marketing IBS Hyderabad, IFHE University (a Deemed to-be-University under Section 3 of UGC Act 1956) Andhra Pradesh, India

Abstract

Renewable Energy Certificate (REC) trading through power exchanges commenced in March 2011 in India. The enactment of Indian Electricity Act 2003 along with mandatory obligation of purchasing renewable power for distribution companies imposed by Central Electricity Regulatory Commission (CERC) and State Electricity Regulatory Commissions (SERC's) has propelled REC trading in Indian Electricity market. In this study we review REC trading in India, role played by power exchanges in facilitating REC trading, policy framework promoting Renewable energy, Renewable Purchase Obligation imposed and suggests the possible policy considerations for the regulators in future.

Keywords: Renewable Energy Certificate (REC), Trading, Power Exchanges, India, Renewable Purchase Obligation, Solar REC, Non-Solar REC

JEL Classifications: C01; C22; C53 

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Author Biography

Girish G P, Department of Finance, IBS Hyderabad, IFHE University (a Deemed to-be-University under Section 3 of UGC Act 1956), India

Dr. Girish G P's professional experience spans over a period of five years and he is currently an Assistant Professor at IBS Hyderabad, IFHE University (a Deemed-to-be-university under Section 3 of UGC Act. 1956), India. He was a Visiting Research Scholar at the Faculty of Business and Economics, Macquarie University, Sydney, Australia and also pursued a semester of his MBA in Adelaide, Australia under complete Scholarship (Study Abroad Program-IBS Adelaide-University of South Australia (UniSA)).Dr. Girish G P has obtained his bachelors in Electrical and Electronics Engineering from University Visveswaraya College of Engineering (UVCE), Bangalore University in 2008 and his Masters in Business Administration (Finance) from IBS Hyderabad, IFHE University in 2011. He has obtained his Doctorate from IBS Hyderabad, IFHE University in January 2015. He has always been a meritorious student and he was one among TOP 25 in Karnataka State Board Examination (12th Std). He was a recipient of Complete Scholarship for his MBA and PhD education from IBS Hyderabad, IFHE University.Dr. Girish G P is currently an Editorial Board Member for International Journal of Economics and Finance (ERA and ABDC Indexed Journal), World Journal of Economic and Finance (USA) and Journal of Management and Sustainability (Canada). He is also a Reviewer for International Journal of Electrical Power and Energy Systems, Elsevier Publishers (SCOPUS Indexed Journal), International Journal of Economics and Finance (ERA and ABDC Indexed Journal), Journal of Management and Sustainability (Canada), British Journal of Economics, Management & Trade (UK), International Journal of Statistics and Mathematics (USA), Journal of Business and Economic Management (UK), International Journal of Sustainable Energy and Environmental Research (Pakistan) and Issues in Business Management and Economics (Nigeria).Dr. Girish G P's research interests include Power Markets, Energy Economics and Risk Management.

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Published

2015-07-13

How to Cite

G P, G., P, S., Supra, B., & Acharya, A. (2015). Renewable Energy Certificate Trading through Power Exchanges in India. International Journal of Energy Economics and Policy, 5(3), 805–808. Retrieved from https://www.econjournals.com/index.php/ijeep/article/view/1287

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