Platts to update methodology for previous year Singapore, India, Mexico I-RECs assessments, June 1

Platts, part of S&P Global Energy, will update its previous-year Singapore, India and Mexico International Renewable Energy Certificates (I-RECs) assessments to give priority to second-half (H2) vintages during the later part of the year, effective June 1, 2026.

Platts first proposed updating the assessments' methodology on May 14, in a subscriber note available here.

The previous-year assessments currently reflect full-year vintage. The change means that from Jan. 1 to May 31, the assessments will reflect full-year vintages. From June 1 every year, H2 vintage information will be given priority over full-year vintage trades in the assessment process. Any H1 information received after June 1 of the year may be considered and normalized for assessment purposes, wherever possible.

This change will align the assessments with market feedback, indicating that the majority of trade activity for the previous year's vintage, from June 1 until the end of the year, is concentrated on the H2 previous-year vintage.

This also aligns with CDP reporting frameworks used by RE100 companies, which recommend a total 21-month vintage limitation window -- six months before the start of the reporting period, the 12-month reporting period itself and three months after the period ends.

The assessments that will be impacted by this change are as follows:

Current-year and forward-year assessments will not be affected by this change and continue to reflect full-year vintage.

The affected assessments are found in the fixed pages PEP1102, PEP1105, CLE2201, EVA2009 and EVA2002, as well as in Platts REC Daily, Platts Megawatt Daily and Platts European Power Daily.

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