Platts to change volume threshold, timestamp, publishing schedule for Brazil I-REC assessments July 8

Platts, part of S&P Global Energy, will change the minimum volume threshold for its Brazil International Renewable Energy Certificates (I-RECs) price assessments, as well as change their timestamp and publication schedule, effective July 8.

The decision follows a proposal note published May 27.

Platts will change the volume specifications from 30-100 gigawatt-hour to 10-100 GWh to better reflect changes in spot trade volumes in the market. Platts has observed a shift in volume size, with smaller volumes ranging from 10-30 GWh regularly traded in the market.

Additionally, Platts will change the timestamp and holiday schedule for its Brazil I-REC assessments and the associated BRL/EUR forex assessment to align with the local market. The assessment time will shift from 15:30 Mexico City time to 16:30 Sao Paulo time and the assessments will follow the Brazil holiday calendar. As a result, the name of the BRL/EUR Spot Forex 3:30 Mexico City assessment will be changed to BRL/EUR Spot Forex 4:30 Sao Paulo.

The assessments affected by the changes are as follows:

Platts has proposed to discontinue the BRL/USD forex rate currently used to convert these assessments into US dollars (BRLUA00 ) and will instead use an existing forex rate that is assessed at 16:30 Sao Paulo (USDBR00).

The I-REC assessments currently appear in the fixed pages CLE3208, ETA6100, EVA3000, as well as in the REC Daily and on Energy Core.

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