Platts proposes to launch Thailand coverage to global I-RECs assessments

Platts, part of S&P Global Commodity Insights, proposes to launch Thailand international renewable energy certificate (I-REC) assessments, effective April 22, 2024.

The proposal is in response to industry feedback for greater price transparency in the growing I-RECs market in Southeast Asia. The Thailand assessment will complement Platts' existing I-REC assessments.

The Thailand 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 assessments on April 22, 2024 will be for 2023 and 2024, and would be assessed through 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 assessment would be published in USD/MWh and Baht/MWh at a 4:30 pm Malaysia Standard Time close for solar, hydro and biomass technologies. It would follow the Penang publishing schedule and holiday calendar.

Platts would publish the proposed assessments in USD and Baht.

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

A summary of the new assessment launches is below: