Platts adds Chile and Mexico coverage to global I-RECs assessments

Platts, part of S&P Global Commodity Insights, launches Mexico and Chile international renewable energy certificate (I-REC) assessments, effective June 29, 2023.

The additional assessments provide transparency to the growing I-RECs market in Latin America.

The 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 June 29 assessments and up until those published on Dec. 31, 2023, are 2022 and 2023. Vintages reflected in the assessments will roll to 2023 and 2024 on Jan. 1, 2024, and so on in subsequent years.

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

For Mexico, assessments are published in MXN/MWh with conversions for USD/MWh and Eur/MWh at a 3:30 pm Houston close for wind, hydro, solar and biomass technologies.

For Chile, assessments are published in CLP/MWh, with conversions for Eur/MWh and USD/MWh at a 3:30 pm Houston close for wind, hydro, solar and biomass technologies.

The new assessments are available on Platts Dimensions Pro and are part of Energy Transition offering.

See below a summary of the new assessment launches:

The new Chile and Mexico assessments follow the US publishing schedule and holiday calendar. In the case of public holidays, prices will be published on the next working day.

The foreign exchange rate conversions use assessments of the relevant currency pairs at 3:30 pm Houston time. Platts launches new assessments for USD.MXN, USD.CLP and USD.EUR to support the new I-REC assessments.

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.

Platts started publishing I-RECs assessments for Brazil, Turkey and India in September 2022. Details about the methodology for Platts I-REC assessments can be found here: i-recs-international-renewable-energy-certificates-methodology.pdf (spglobal.com).

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