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New Delhi: India Energy Exchange (IEX) on Monday said that it has resumed trading of renewable energy certificates (RECs) effective 24 November, after a gap of almost 16 months.

A power exchange functions on the lines of commodity exchanges and provides a platform for buyers and sellers of electricity to enter into spot contracts for the same day, coming day, and on a weekly basis up to 11 days. Of about 1,381 billion units (BU) of electricity consumed in India, only 7% is traded on power exchanges.

“The last REC trade session took place in June 2020," IEX said in a statement and added, “The trade has been resumed in line with APTEL’s recent order dated 09.11.2021 and CERC order dated 18.11.2021"

India presently has two power exchanges India Energy Exchange (IEX) and PXIL. Pranurja Solution Ltd, led by BSE, PTC India Ltd and ICICI Bank Ltd., has been given permission by India’s apex power sector regulator Central Electricity Regulatory Commission to start the country’s third power exchange.

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