Platts proposes to assess India I-RECs in US dollars, converting to local currencies

Platts, part of S&P Global Commodity Insights, proposes to change the methodology for its India I-REC assessments, effective March 13.

Under the proposed changes, India I-REC assessments would be assessed and published in US dollars. Platts would also provide a conversion of these assessments into local currency (USD/INR) for wind and solar, and both USD/INR and USD/EUR for hydro assessments.

Currently, Platts assesses and publishes prices in local currencies, followed by a conversion into US dollars for wind and solar, and into both US dollars and euros for hydro.

The proposed change aims to better reflect the fundamentals of the Indian I-REC markets, where transactions typically occur in US dollars, with conversion to local currencies applied as needed during settlement or payment.

Assessments affected by this proposed change are as follows:

Please send all comments, feedback, and questions to global_renewables@spglobal.com and pricegroup@spglobal.com by Feb. 11, 2024.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.