24 May 2019

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PAT is a rolling multi-cycle programme that has led to energy saving of 8.67 Million Tonnes of Oil Equivalent (MTOE) by year 2014-15 in PAT Cycle –I.

Realized Impacts of PAT Cycle –I are as follows:

Energy Saving Certificates (ESCerts) Trading:

Designated Consumers that exceed their energy saving targets are issued Energy Saving Certificates (ESCerts) that can be traded at the Power Exchanges. Central Electricity Regulatory Authority (CERC) regulates the trading of ESCerts and two Power Exchanges namely Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL) provides trading platform. Power System Operation Corporation Limited (POSOCO) has been assigned the role of Registry under this trading mechanism. There is no floor price or forbearance price of ESCerts. The price of the ESCerts is totally depended on the market because the mechanism used in evaluation of the final price of ESCerts is “double sided closed auction.”

Trading of Energy Saving Certificates (ESCerts) at the Power Exchanges had commenced in 2017. A total of seventeen sessions of trading of ESCerts took place at the Power Exchanges resulting into a total traded volume of about 12.98 lakh ESCerts and a business of about INR 100 Crore in PAT Cycle –I.