Platts to launch Saudi Arabia I-RECs assessments

Platts, part of S&P Global Commodity Insights, will launch Saudi Arabia international renewable energy certificate (I-REC) assessments, effective Jan. 27.

Platts first proposed to launch the assessments Dec. 16, building on existing coverage of I-RECs across the globe: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/121624-platts-proposes-to-add-saudi-arabia-coverage-to-global-i-recs-assessments.

The additional assessments will provide transparency to the growing I-RECs market in the Gulf region.

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 Jan. 27 assessments will be for 2024 and 2025, and will be reflected through Dec. 31, 2025.

Vintages reflected in the assessments will roll to 2025 and 2026 on Jan. 1, 2026, 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-TRACK Foundation.

Details about the methodology for the Platts suite of I-REC assessments can be found here: https://www.spglobal.com/commodityinsights/PlattsContent/_assets/_files/en/our-methodology/methodology-specifications/global_renewables_certificates.pdf

The new Saudi Arabia assessments will be published at 4:30pm London time and will follow the London publishing schedule and holiday calendar.

Please send all feedback and comments to pricegroup@spglobal.com and global_renewables@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.