Examples of REC Regulations in a sentence
Commission has notified the RERC (Renewable Energy Certificate and Renewable Purchase Obligation Compliance Framework) Regulations, 2010 (hereinafter referred to as the ‘RERC REC Regulations 2010’) which, among other things, provide for pricing and purchase under REC mechanism.
In light of above, appropriate Amendments have been proposed in the RERC REC Regulations 2010 (‘Principal Regulations’) as enclosed.
As per the existing REC mechanism, the RE generator registered under REC mechanism may exchange the environmental attribute in the form of REC and sell the electricity component to the Discoms at the Pooled Cost of Power Purchase (‘pooled cost’) notified by the Electricity Regulatory Commission for each year envisaged under the Regulation 10(2) of the RERC REC Regulations 2010.
It is observed that the proviso to the Regulation 10 to the RERC REC Regulations 2010 provides that with the progressive development of the electricity sector, the pricing methodologies for electricity component and REC shall be reviewed at periodic intervals as may be considered appropriate by the Commission.
At that time of notification of the RERC REC Regulations 2010, there was a huge difference between the price of renewable energy and conventional electrical power.