The Central Electricity Regulatory Commission (CREC) has approved the draft procedure for implementation of the Renewable Regulatory Fund mechanism. Theprocedure, issued in compliance with Regulation 6.1 of CERC (Indian Electricity Grid Code) Regulations, 2010, was submitted by the National Load Despatch Centre (NLDC).
- The procedure shall be applicable to wind farms and solar generating plants with a collective capacity of 10 MW and 5 MW and above, respectively, connected to the transmission or distribution system of any state or to the interstate transmission system, at connection level of 33 kV and above, and which have not signed any PPA with states/UTs/DVC or others.
- It calls for the establishment of a corpus fund by the NLDC at the national level on the lines of UI pool accounts, which are regional. All payments on account of renewable regulatory charges, levied under the regulations, and interest, if any, received for late payment shall be credited to the RRF.
- The provisions in the regulations outline the procedure to be followed by both wind and solar generators in respect of scheduling and settlement of accounts, energy accounting and schedule of payment of energy accounting, amongst others.