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Recently, Union Government redesigned the Renewable Energy Certificate (REC) Mechanism. Which of the following statements are correct with respect to the redesigned REC mechanism?
- Prices of Renewable Energy Certificates are determined by market conditions.
- Central Electricity Regulatory Commission (CERC) will be the monitoring and the surveillance agency to ensure that there is no hoarding of RECs.
- The floor price limit is to be decided by the Union Government.
Select the correct answer using the code given below.
- a)1 and 2 only
- b)2 and 3 only
- c)1 and 3 only
- d)1, 2 and 3
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
Recently, Union Government redesigned the Renewable Energy Certificate...
- Ministry of Power recently redesigned Renewable Energy Certificate (REC) Mechanism. The intent behind this decision is to align the ‘mechanism’ with the emerging changes in the power scenario and also to promote new renewable technologies.
- The salient features of changes proposed in revamped REC mechanism are:
- REC prices to be determined by market conditions. Hence, statement 1 is correct.
- Validity of REC would be perpetual i.e., till it is sold.
- Floor and forbearance price limits removed. Hence, statement 3 is not correct.
- Central Electricity Regulatory Commission (CERC) to have monitoring and the surveillance mechanism to ensure that there is no hoarding of RECs. Hence, statement 2 is correct.
- The RE generator who are eligible for REC, will be eligible for issuance of RECs for the period of PPA as per the prevailing guidelines. The existing RE projects that are eligible for REC would continue to get RECs for 25 years.
- RECs can be issued to obligated entities (including DISCOMs and open access consumers) which purchase RE Power beyond their RPO compliance notified by the Central Government.
- No REC to be issued to the beneficiary of subsidies/concessions or waiver of any other charges.
- The Forum of Regulators (FOR) to define concessional charges uniformly for denying the RECs.
- Allowing traders and bilateral transactions in REC mechanism.
- The proposed changes will provide some flexibility to the players, additional avenues, rationalization and also addressing the RECs validity period uncertainty issues
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Recently, Union Government redesigned the Renewable Energy Certificate...
Prices of Renewable Energy Certificates are determined by market conditions:
- The redesigned REC mechanism allows for the prices of Renewable Energy Certificates to be determined by market conditions, promoting transparency and efficiency in the trading process.
Central Electricity Regulatory Commission (CERC) will be the monitoring and surveillance agency:
- The CERC has been assigned the role of monitoring and surveillance to ensure that there is no hoarding of RECs, thereby maintaining the integrity of the market and preventing any unfair practices.
The floor price limit is to be decided by the Union Government:
- The Union Government has the authority to set the floor price limit for RECs, providing a framework for pricing that aligns with the government's renewable energy objectives and policies.
- The redesigned REC mechanism allows for the prices of Renewable Energy Certificates to be determined by market conditions, promoting transparency and efficiency in the trading process.
Central Electricity Regulatory Commission (CERC) will be the monitoring and surveillance agency:
- The CERC has been assigned the role of monitoring and surveillance to ensure that there is no hoarding of RECs, thereby maintaining the integrity of the market and preventing any unfair practices.
The floor price limit is to be decided by the Union Government:
- The Union Government has the authority to set the floor price limit for RECs, providing a framework for pricing that aligns with the government's renewable energy objectives and policies.
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Recently, Union Government redesigned the Renewable Energy Certificate (REC) Mechanism. Which of the following statements are correct with respect to the redesigned REC mechanism? Prices of Renewable Energy Certificates are determined by market conditions. Central Electricity Regulatory Commission (CERC) will be the monitoring and the surveillance agency to ensure that there is no hoarding of RECs. The floor price limit is to be decided by the Union Government.Select the correct answer using the code given below.a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer?
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Recently, Union Government redesigned the Renewable Energy Certificate (REC) Mechanism. Which of the following statements are correct with respect to the redesigned REC mechanism? Prices of Renewable Energy Certificates are determined by market conditions. Central Electricity Regulatory Commission (CERC) will be the monitoring and the surveillance agency to ensure that there is no hoarding of RECs. The floor price limit is to be decided by the Union Government.Select the correct answer using the code given below.a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Recently, Union Government redesigned the Renewable Energy Certificate (REC) Mechanism. Which of the following statements are correct with respect to the redesigned REC mechanism? Prices of Renewable Energy Certificates are determined by market conditions. Central Electricity Regulatory Commission (CERC) will be the monitoring and the surveillance agency to ensure that there is no hoarding of RECs. The floor price limit is to be decided by the Union Government.Select the correct answer using the code given below.a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Recently, Union Government redesigned the Renewable Energy Certificate (REC) Mechanism. Which of the following statements are correct with respect to the redesigned REC mechanism? Prices of Renewable Energy Certificates are determined by market conditions. Central Electricity Regulatory Commission (CERC) will be the monitoring and the surveillance agency to ensure that there is no hoarding of RECs. The floor price limit is to be decided by the Union Government.Select the correct answer using the code given below.a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer?.
Recently, Union Government redesigned the Renewable Energy Certificate (REC) Mechanism. Which of the following statements are correct with respect to the redesigned REC mechanism? Prices of Renewable Energy Certificates are determined by market conditions. Central Electricity Regulatory Commission (CERC) will be the monitoring and the surveillance agency to ensure that there is no hoarding of RECs. The floor price limit is to be decided by the Union Government.Select the correct answer using the code given below.a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Recently, Union Government redesigned the Renewable Energy Certificate (REC) Mechanism. Which of the following statements are correct with respect to the redesigned REC mechanism? Prices of Renewable Energy Certificates are determined by market conditions. Central Electricity Regulatory Commission (CERC) will be the monitoring and the surveillance agency to ensure that there is no hoarding of RECs. The floor price limit is to be decided by the Union Government.Select the correct answer using the code given below.a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Recently, Union Government redesigned the Renewable Energy Certificate (REC) Mechanism. Which of the following statements are correct with respect to the redesigned REC mechanism? Prices of Renewable Energy Certificates are determined by market conditions. Central Electricity Regulatory Commission (CERC) will be the monitoring and the surveillance agency to ensure that there is no hoarding of RECs. The floor price limit is to be decided by the Union Government.Select the correct answer using the code given below.a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer?.
Solutions for Recently, Union Government redesigned the Renewable Energy Certificate (REC) Mechanism. Which of the following statements are correct with respect to the redesigned REC mechanism? Prices of Renewable Energy Certificates are determined by market conditions. Central Electricity Regulatory Commission (CERC) will be the monitoring and the surveillance agency to ensure that there is no hoarding of RECs. The floor price limit is to be decided by the Union Government.Select the correct answer using the code given below.a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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