Platts adds Thailand coverage to global I-RECs assessments

Platts, part of S&P Global Commodity Insights, has launched Thailand international renewable energy certificate (I-REC) assessments, effective April 24, 2024.

The assessments will provide transparency to the growing I-RECs market in Thailand and will compliment Platts existing I-REC assessments.

The Thailand I-REC assessments 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 24, 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 is published in US dollars/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.

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

See below a summary of the new assessment launches:

Platts began publishing I-REC assessments for Brazil, Turkey and India in September 2022. Subsequently, in June 2023, Platts expanded its coverage to include Mexico and Chile. The latest addition to its assessments came in February 2024, with the inclusion of Vietnam and Malaysia. Details about the methodology for Platts I-REC assessments can be found here.

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

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