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Consider the following statements:
1. Perform, Achieve and Trade (PAT) scheme is a market-based mechanism to incentivize energy efficiency in the large energy-intensive industries.
2. The Bureau of Energy Efficiency (BEE) has introduced the Energy Savings Certificates (ESCerts) under the PAT.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements:1. Perform, Achieve and Trade (PAT) ...
- Perform, Achieve and Trade (PAT) scheme is a market-based mechanism to further accelerate as well as incentivize energy efficiency in the large energy-intensive industries. Hence, statement 1 is correct.
- The Energy Savings Certificates (ESCerts) were introduced in India in 2011 under the PAT by the Bureau of Energy Efficiency (BEE) under the National Mission of Energy Efficiency. Hence, statement 2 is correct.
- NMEEE is one of the eight national missions under the National Action Plan on Climate Change (NAPCC) launched by the Government of India in the year 2008.
- The underachievers are entitled to purchase ESCerts through two power exchanges - Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL).
- Industries that take part in this scheme are referred to as designated shoppers (DC).
- PAT covered about 13 energy-intensive sectors: Thermal power plants (TPP), cement, aluminium, iron and steel, pulp and paper, fertiliser, chlor-alkali, petroleum refineries, petrochemicals, distribution companies, railways, textile and commercial buildings (hotels and airports).
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Consider the following statements:1. Perform, Achieve and Trade (PAT) ...
Statement 1: Perform, Achieve and Trade (PAT) scheme is a market-based mechanism to incentivize energy efficiency in the large energy-intensive industries.
Statement 2: The Bureau of Energy Efficiency (BEE) has introduced the Energy Savings Certificates (ESCerts) under the PAT.
Explanation:
The Perform, Achieve and Trade (PAT) scheme is a market-based mechanism introduced by the Government of India to incentivize energy efficiency in large energy-intensive industries. It aims to reduce energy consumption and promote energy conservation in these industries.
Under this scheme, the government sets specific energy consumption targets for participating industries based on their historical energy consumption and sector-specific benchmarks. These targets are known as Perform Achieve and Trade (PAT) targets. The industries are required to achieve these targets within a specified time frame.
The Bureau of Energy Efficiency (BEE), which is a statutory body under the Ministry of Power, is responsible for implementing and monitoring the PAT scheme. It is also responsible for issuing Energy Savings Certificates (ESCerts) to industries that achieve energy savings beyond their targets.
The Energy Savings Certificates (ESCerts) are tradable instruments that represent one metric ton of oil equivalent (MTOE) of energy savings. These certificates can be bought and sold on the Energy Exchange platform, providing a market-based mechanism for industries to trade their energy savings. By trading these certificates, industries that have achieved energy savings beyond their targets can monetize their efforts, while industries that have not achieved their targets can purchase these certificates to meet their compliance obligations.
Therefore, both statements are correct:
1. The Perform, Achieve and Trade (PAT) scheme is a market-based mechanism to incentivize energy efficiency in large energy-intensive industries.
2. The Bureau of Energy Efficiency (BEE) has introduced the Energy Savings Certificates (ESCerts) under the PAT.
Statement 2: The Bureau of Energy Efficiency (BEE) has introduced the Energy Savings Certificates (ESCerts) under the PAT.
Explanation:
The Perform, Achieve and Trade (PAT) scheme is a market-based mechanism introduced by the Government of India to incentivize energy efficiency in large energy-intensive industries. It aims to reduce energy consumption and promote energy conservation in these industries.
Under this scheme, the government sets specific energy consumption targets for participating industries based on their historical energy consumption and sector-specific benchmarks. These targets are known as Perform Achieve and Trade (PAT) targets. The industries are required to achieve these targets within a specified time frame.
The Bureau of Energy Efficiency (BEE), which is a statutory body under the Ministry of Power, is responsible for implementing and monitoring the PAT scheme. It is also responsible for issuing Energy Savings Certificates (ESCerts) to industries that achieve energy savings beyond their targets.
The Energy Savings Certificates (ESCerts) are tradable instruments that represent one metric ton of oil equivalent (MTOE) of energy savings. These certificates can be bought and sold on the Energy Exchange platform, providing a market-based mechanism for industries to trade their energy savings. By trading these certificates, industries that have achieved energy savings beyond their targets can monetize their efforts, while industries that have not achieved their targets can purchase these certificates to meet their compliance obligations.
Therefore, both statements are correct:
1. The Perform, Achieve and Trade (PAT) scheme is a market-based mechanism to incentivize energy efficiency in large energy-intensive industries.
2. The Bureau of Energy Efficiency (BEE) has introduced the Energy Savings Certificates (ESCerts) under the PAT.
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Consider the following statements:1. Perform, Achieve and Trade (PAT) scheme is a market-based mechanism to incentivize energy efficiency in the large energy-intensive industries.2. The Bureau of Energy Efficiency (BEE) has introduced the Energy Savings Certificates (ESCerts) under the PAT.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements:1. Perform, Achieve and Trade (PAT) scheme is a market-based mechanism to incentivize energy efficiency in the large energy-intensive industries.2. The Bureau of Energy Efficiency (BEE) has introduced the Energy Savings Certificates (ESCerts) under the PAT.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:1. Perform, Achieve and Trade (PAT) scheme is a market-based mechanism to incentivize energy efficiency in the large energy-intensive industries.2. The Bureau of Energy Efficiency (BEE) has introduced the Energy Savings Certificates (ESCerts) under the PAT.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:1. Perform, Achieve and Trade (PAT) scheme is a market-based mechanism to incentivize energy efficiency in the large energy-intensive industries.2. The Bureau of Energy Efficiency (BEE) has introduced the Energy Savings Certificates (ESCerts) under the PAT.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
Consider the following statements:1. Perform, Achieve and Trade (PAT) scheme is a market-based mechanism to incentivize energy efficiency in the large energy-intensive industries.2. The Bureau of Energy Efficiency (BEE) has introduced the Energy Savings Certificates (ESCerts) under the PAT.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:1. Perform, Achieve and Trade (PAT) scheme is a market-based mechanism to incentivize energy efficiency in the large energy-intensive industries.2. The Bureau of Energy Efficiency (BEE) has introduced the Energy Savings Certificates (ESCerts) under the PAT.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:1. Perform, Achieve and Trade (PAT) scheme is a market-based mechanism to incentivize energy efficiency in the large energy-intensive industries.2. The Bureau of Energy Efficiency (BEE) has introduced the Energy Savings Certificates (ESCerts) under the PAT.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements:1. Perform, Achieve and Trade (PAT) scheme is a market-based mechanism to incentivize energy efficiency in the large energy-intensive industries.2. The Bureau of Energy Efficiency (BEE) has introduced the Energy Savings Certificates (ESCerts) under the PAT.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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