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S&P Global, Platts to begin publishing global I-RECs renewable electricity assessments
Commodity: Electric Power, Energy Transition
Region: Asia, Americas, EMEA

The I-RECs assessments will reflect spot deliveries of certificates, representing a minimum 1 GWh, for prior year and current year vintages, rolling to the next vintages at the start of each calendar year. For example, the vintages reflected in the assessment will be 2021 and 2022 until Dec.l 31, 2022, and will roll into 2022 and 2023 on Jan. 1, 2023.
Assessments will be published for the following technologies and units of measures suited for each region:

• Brazil, assessments will be published in BRL/MWh, USD/MWh and EUR/MWh at a 4:30 pm Sao Paulo Brazil/3:30 pm Houston close for wind, hydro, solar and biomass technologies.
• Turkey, assessments will be in EUR/MWh [?!] and USD/MWh at a 4:30 pm London close for wind, hydro, solar and biomass technologies.
• India, the I-RECs assessments will be in INR/MWh, USD/MWh and EUR/MWh at a 5:30 pm India/1200 GMT timestamp for hydro.

The International REC Standard Foundation
"empowering purchasers" reserve currencies
What is an I-REC?

Currently, most national EACs schemes are voluntary. For example, the schemes used in the European internal market. Mandated EAC schemes are often referred to as "compliance" markets. [...]  EAC compliance markets are seen in some US States, where they are the tool for meeting a Renewable Portfolio Standard (RPS). EAC schemes can differ based on their legal footing, but the underlying principles of their operation - the issuance, trade, and cancellation of certificates that allow end-users to claim the use of a given unit of energy - are the same.

A visual presentation of how RECs function can be found in English, Spanish, and Portuguese.

by Cat on Wed Aug 3rd, 2022 at 06:26:03 PM EST
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