Electric Power, Energy Transition, Agriculture, Renewables, Biofuel

February 19, 2024

Platts adds Malaysia and Vietnam coverage to global I-RECs assessments

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

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

The I-REC assessments reflect spot deliveries of certificates, representing a minimum of 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 and through Dec. 31, 2024, are 2023 and 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 1 MWh of electricity generated from renewable sources as certified and recorded within the I-REC Standard registry.

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

  • For Vietnam, individual assessments are published in $/MWh at 4:30 pm standard Malaysian time close for wind, hydro, solar and biomass technologies.
  • For Malaysia, individual assessments are published in $/MWh at 4:30 pm standard Malaysian time clos for hydro, solar and biomass technologies.

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

See below a summary of the new assessment launches:

Symbol Description
AYSIA00 I-REC Malaysia Biomass Current Year $/MWh
AYSIB00 I-REC Malaysia Biomass Previous Year $/MWh
AYSIC00 I-REC Malaysia Hydro Current Year $/MWh
AYSID00 I-REC Malaysia Hydro Previous Year $/MWh
AYSIE00 I-REC Malaysia Solar Current Year $/MWh
AYSIF00 I-REC Malaysia Solar Previous Year $/MWh
AYSIG00 I-REC Vietnam Biomass Current Year $/MWh
AYSIH00 I-REC Vietnam Biomass Previous Year $/MWh
AYSII00 I-REC Vietnam Hydro Current Year $/MWh
AYSIJ00 I-REC Vietnam Hydro Previous Year $/MWh
AYSIK00 I-REC Vietnam Solar Current Year $/MWh
AYSIL00 I-REC Vietnam Solar Previous Year $/MWh
AYSIM00 I-REC Vietnam Wind Current Year $/MWh
AYSIN00 I-REC Vietnam Wind Previous Year $/MWh

The new Vietnam and Malaysia assessments 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 at https://www.spglobal.com/commodityinsights/en/our-methodology/methodology-specifications/energy-transition/i-recs

In the case of public 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.

Please send all feedback and comments to PriceGroup@spglobal.com and guaranteeoforigin_certificates@spglobal.com.

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.