Platts decides to add Malaysia and Vietnam coverage to global I-RECs assessments

After market consultation, Platts, part of S&P Global Commodity Insights, has decided to begin publishing Malaysia and Vietnam international renewable energy certificate (I-REC) assessments, effective Feb. 19, 2024.

The additional assessments will provide transparency to the growing I-RECs market in Southeast Asia.

The I-REC assessments will reflect spot deliveries of certificates, representing a minimum 1 GWh, for prior year and current year vintages, rolling to the next vintages at the start of each calendar year.

For example, the vintages reflected in the Feb.19 assessments will be for 2023 and 2024, and will be reflected until Dec. 31 2024. Vintages reflected in the assessments will roll to 2024 and 2025 on Jan. 1, 2025, and so on in subsequent years.

Each I-REC represents the environmental attributes of renewable electricity and represents one megawatt hour of electricity generated from renewable sources, as certified and recorded within the I-REC Standard registry.

The additional assessments would be published for the following technologies and units of measures suited for each region:

- For Vietnam, individual assessments would be published in USD/MWh at a 4:30 pm Malaysia Standard Time close for wind, hydro, solar and biomass technologies.

- For Malaysia, individual assessments would be published in USD/MWh, at a 4:30 pm Malaysia Standard Time close for hydro, solar and biomass technologies.

The new assessments would be available on Platts Connect and would be part of Platts' Energy Transition offering.

See below a summary of the new assessment launches:

The new Vietnam and Malaysia assessments would follow the Penang publishing schedule and holiday calendar.

Platts started publishing I-RECs assessments for Brazil, Turkey and India in September 2022 and added I-RECs assessments for Mexico and Chile in June 2023. Details about the methodology for Platts I-REC assessments can be found here: https://www.spglobal.com/commodityinsights/en/our-methodology/methodology-specifications/energy-transition/i-recs

In the case of bank holidays, prices will be published on the next working day.

Specification: For Brazil, Chile, Mexico, Turkey, and Vietnam the assessments are for I-RECs generated from hydro, solar, wind and biomass generation sources. For India, the assessments are for I-RECs generated from hydro sources. For Malaysia, the assessments are for I-RECs generated from hydro, biomass and solar sources.

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