BWI: Renewable Energy Certificate Mechanisms Enable Market Growth and Improve the Commercial Viability of the RE Electricity

Press release from Business Wire India
Source: The Energy and Resources Institute (TERI)
Wednesday, December 17, 2008 04:44 PM IST (11:14 AM GMT)
Editors: General: Consumer interest; Business: Business services, Education & training, Energy companies, Media & entertainment; Technology
Release no: 18761
--------------------------------------------------
Renewable Energy Certificate Mechanisms Enable Market Growth and Improve the Commercial Viability of the RE Electricity
Workshop on Design of RECs System for Maharashtra by TERI, British High Commission and MERC calls for Consensus on Renewable Energy Certificate

New Delhi, Delhi, India, Wednesday, December 17, 2008 -- (Business Wire India) -- The Energy and Resources Institute (TERI) with the British High commission and Maharashtra Electricity Regulatory Commission (MERC), conducted a workshop for its key stakeholders on Renewable Energy Certificate (REC), which it developed under a project funded by the Strategic Programme Fund of the British High commission. The overall objective of the workshop was to develop consensus on REC trading scheme.

The workshop was a presentation to its key stakeholders on the framework for REC (Renewable Energy Certificate) developed for Maharashtra Electricity Regulatory Commission (MERC). The main components of the framework that were discussed in the workshop included REC mechanism, the necessary institutional framework and the pricing guidelines for RECs and associated electricity generated from RE sources.

The keynote address at the workshop was given by Dr Pramod Deo, Chairman, Central Electricity Regulatory Commission. Mr A Velayutham, Member, Maharashtra Electricity Regulatory Commission and Mr Mahesh Zagade, IAS, Director General, Maharashtra Energy Development Agency (MEDA) chaired the two sessions that were held during the workshop.

Giving the keynote address at the workshop Dr Pramod Deo, Chairman, Central Electricity Regulatory Commission said, "REC Mechanisms enable market growth and improve the commercial viability of the RE electricity. REC measures can provide a greater push to RE electricity by way of removing the bottlenecks like higher costs, uneven distribution of RE resources across India, and scheduling or despatchability of RE electricity, in procurement of RE electricity by utilities. REC's mechanisms merit considerations, and has been used extensively as a successful market based policy instrument to promote renewables in many countries and which would be relevant in the current legal and regulatory set-up of the Indian Power sector for facilitating compliance with RPO/RPS."

Mr Fergus Auld from the British High Commission said, "TERI is central to the discussion on climate change and environment. British Governments primary objective is to share its experience and learn more from India. This collaboration provides a win-win opportunity for sustainability of the renewable energy in both the countries. UK has driven a low carbon solution in a cost effective manner through market mechanism. We are happy to see the dynamism of Maharashtra to steer the process of renewable energy.

In the workshop, it was suggested that the Maharashtra Energy Development Agency (MEDA) takes a lead role in implementing the RPS through the REC system. In this case, MEDA will issue the RECs to renewable energy generators of electricity, which can later be sold by the generators to the utilities. Utilities in turn shall surrender these RECs to MEDA at the end of the RPS compliance period towards fulfilling their RPS quota.

The institutional framework required for this system was also discussed in the workshop. The workshop also discussed the possible roles of key players, the common trading norms and the critical institutional and implementation issues arising out of such a scheme. The overall objective of the workshop was to develop consensus on REC trading scheme.

About The Energy and Resources Institute (TERI):

A dynamic and flexible organization with a global vision and a local focus, TERI was established in 1974. While in the initial period the focus was mainly on documentation and information dissemination activities, research activities in the fields of energy, environment and sustainable development were initiated towards the end of 1982. The genesis of these activities lay in TERI's firm belief that efficient utilization of energy, sustainable use of natural resources, large-scale adoption of renewable energy technologies and reduction of all forms of waste would move the process of development towards the goal of sustainability.

All activities in TERI move from formulating local and national level strategies to suggesting global solutions to critical energy and environment-related issues. It is with this purpose that TERI has established regional centres in Bangalore, Goa, and Guwahati, and a presence in Japan, Malaysia, Russia, and the United Arab Emirates. It has also set up affiliate institutes: TERI-NA (The Energy and Resources Institute, North America) Washington DC, USA, and TERI-Europe, London, UK.




CONTACT DETAILS
Rajiv Chhibber, The Energy and Resources Institute (TERI), +91 9810426698, rajivc@teri.res.in
Dalvinder Kaur, The Energy and Resources Institutes, +91 9891377700, djkaur@teri.res.in

KEYWORDS
CONSUMER, BUSINESS SERVICES, EDUCATION, ENERGY, MEDIA, TECHNOLOGY

If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.

Submit your press release at http://www.businesswireindia.com