Home India Central Electricity Regulatory Commission In exercise of powers conferred under sub section 1 and clau...
Date: 2026-04-27 Category: Extra Ordinary State: Union Government Country: India

In exercise of powers conferred under sub section 1 and clause y of sub section 2 of section 178 read with Section 66 of the Electricity Act

Issued by Central Electricity Regulatory Commission · Not Applicable

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Executive Summary & Key Takeaways

**Executive Summary** The Central Electricity Regulatory Commission (CERC) notified the "Terms and Conditions for Purchase and Sale of Carbon Credit Certificates Regulations, 2026" to establish a framework for trading Carbon Credit Certificates (CCCs). These regulations, effective from their date of publication in the Official Gazette, facilitate the exchange of certificates between Obligated and Non-Obligated entities. The Grid Controller of India and the Bureau of Energy Efficiency are designated as the Registry and Administrator, respectively, to manage the market framework. **Key Points / Main Content** **Administrative Framework** * **Administrator:** The Bureau of Energy Efficiency (BEE) is responsible for formulating detailed trading procedures, registering entities, and assisting the Commission in market oversight. * **Registry:** The Grid Controller of India serves as the Registry, maintaining the framework for CCC exchange and managing entity accounts. * **Market Segments:** The market is divided into two distinct segments: the Compliance Market for Obligated entities and the Offset Market for Non-Obligated entities. **Trading and Transaction Rules** * **Exchange Platform:** CCC transactions must be conducted exclusively through Power Exchanges unless otherwise permitted by the Commission. * **Transaction Frequency:** Trading sessions are scheduled on a monthly basis or as determined by the Commission. * **Bidding Restrictions:** Entities are prohibited from placing sale bids that exceed the total number of CCCs held in their Registry account. * **Defaulter Penalties:** Entities that default more than three times in a quarter will be barred from trading CCCs for six months. **Pricing and Valuation** * **Certificate Value:** One CCC is equivalent to one ton of carbon dioxide equivalent (tCO2e). * **Price Discovery:** Market prices are discovered through Power Exchanges, operating within "Floor Price" (minimum) and "Forbearance Price" (maximum) limits approved by the Commission. * **Market Intervention:** The Commission may issue directions in cases of abnormal price fluctuations, sudden volatility, or extreme highs/lows in trading volume. **Impact Analysis** **Obligated Entities** **Impact** These entities are mandated to participate in the Compliance Market to meet their regulatory obligations. **Action Required** They must register with the Registry, pay stipulated fees, and ensure sale bids do not exceed their actual certificate holdings. **Non-Obligated Entities** **Impact** These entities gain access to the Offset Market, allowing them to trade CCCs voluntarily. **Action Required** They must register with the Power Exchange or permitted entities and adhere to the established Rules and Business Rules. **Power Exchanges** **Impact** Exchanges act as the primary platform for price discovery and transaction execution. **Action Required** They must obtain prior Commission approval for their Bye-Laws, report executed transactions to the Registry, and ensure buyers’ and sellers’ accounts are updated post-session. **Grid Controller of India (Registry)** **Impact** Serves as the central repository for all CCC transactions and account balances. **Action Required** The Registry must cross-check cumulative sale bids against account balances and publish a monthly list of defaulting entities. **Bureau of Energy Efficiency (Administrator)** **Impact** Responsible for the functional administration and categorization of certificates. **Action Required** The Bureau must develop detailed procedures for interface activities, disseminate market information, and monitor for non-compliance.

Key Entities Referenced

Central Electricity Regulatory Commission (CERC): The primary regulator issuing these regulations to govern the purchase and sale of Carbon Credit Certificates (CCCs) on Power Exchanges. Carbon Credit Trading Scheme, 2023 (CCTS): The principal policy framework notified by the Ministry of Power under which these regulations are developed to facilitate the Indian Carbon Market. Bureau of Energy Efficiency (BEE): The designated 'Administrator' responsible for formulating procedures for CCC transactions, registry coordination, and overall management of the scheme. Electricity Act, 2003: The foundational legislation that empowers the CERC to regulate the development of the power market and specify terms for carbon credit exchange. Grid Controller of India: The entity designated as the 'Registry' for the exchange of Carbon Credit Certificates, responsible for maintaining records and the transaction framework.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-04052026-272226 xxxGIDHxxx CG-DL-E-04052026-272226 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 292] नई दिल्ली, सोमवार, अप्रैल 27, 2026/विै ाख 7, 1948 ष 22, 1947 No. 292] NEW DELHI, MONDAY, APRIL 27, 2026/VAISAKHA 7, 1948 s 1947 dsUæh; fo|qr fofu;ked vk;ks x अधिसचू ना नई दिल्ली, 27 फरवरी, 2026 la-vkj,&14026¼13½@1@2024&lhbZvk jdlhsUæ&h; fo|qr fofu;ked vk;ksx] fo|qr vf/kfu;e] 2003 ¼2003 dk 36½ dh /kkjk 66 ds lkFk ifBr /kkjk 178 dh mi&/kkjk ¼1½ vkSj mi&/kkjk ¼2½ ds [kaM ¼e½] le;&le; ij ;Fkk la'kksf/kr fnukad 28 twu] 2023 ds ,l-vks-2825¼bZ½ vkSj fnukad 19 fnlEcj] 2023 ds ,l-vk-s 5369¼bZ½ ds ek/;e ls fo|qr e=a ky;] Hkkjr ljdkj }kjk vf/klwfpr dkcZu ØsfMV O;kikj Ldhe] 2023 ds v/khu çnÙk 'kfä;ks a dk ç;ksx djrs gq,] vkSj bl fufeÙk lkeFkZ~;dkjh lHkh vU; 'kfä;ks a dk ç;ksx djrs gq, dkcZu ØsfMV çek.ki=ks a ds fofue; ds fy, dkcZu eas cktkj ds fodkl ds fy, ,rn~ }kjk fuEufyf[kr fofu;e cukrk gS] 1- laf{kIr uke] çkjaHk rFkk mi;kstu dh lhe k ¼1½ bu fofu;eksa dk laf{kIr uke dsUæh; fo|qr fofu;ked vk;ksx ¼dkcZu ØsfMV çek.ki=ks a ds Ø; vkSj foØ; gsrq fuca/ku o 'krasZ½ fofu;e] 2026 gSA ¼2½ ;s fofu;e 'kkldh; jkti= eas çdk'ku dh rkjh[k ls ço`Ùk gksxa sA 2- ifjHkk"k&k, a ¼1½ bu fofu;eksa es]a tc rd fd lanHkZ ls vU;Fkk visf{kr u gks] ¼d½ Þvf/kfu;eß ls fo|qr vf/kfu;e] 2003 ¼2003 dk 36½ vfHkçsr gS( ¼[k½ Þç'kkldß ls ÅtkZ n{krk C;wjks vfHkçsr gS( 2987 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] ¼x½ ^cSafdax vkSj lhlhlh leiZ.k *ls le;&le; ij ;Fkk la'kksf/kr dkcZu ØsfMV O;kikj Ldhe] 2023 dh /kkjk 12 ds v/khu fodflr vuqikyu r=a ds fy, foLr`r fØ;kfof/k eas ;Fkk micaf/kr lhlhlh dk leiZ.k vkSj cSafdax vfHkçsr gS( ¼?k½ ÞC;wj klss ßÅtkZ laj{k.k vf/kfu;e] 2001 ¼2001 dk 52½ dh /kkjk 3 dh mi&/kkjk ¼1½ ds v/khu Hkkjr ljdkj }kjk LFkkfir lkafof/kd fudk;] ÅtkZ n{krk C;wjks vfHkçsr gS( ¼³½ ÞdkcZu ØsfMV çek.ki= ¼lhlhlh ½dßk ogh vFkZ gksxk tks le;&le; ij ;Fkk la'kksf/kr] dkcZu ØsfMV Ldhe] 2023 dh /kkjk 2 ds [kaM ¼?k½ es a mls çnku fd;k x;k gS( ¼p½ ÞdkcZu ØsfMV VªsfMax Ldhe ¼lhlhV hl,s l½leß;&le; ij ;Fkk la'kksf/kr] fnukad 28-6-2023 ds jkti= eas fo|qr ea=ky; }kjk tkjh dkcZu ØsfMV O;kikj Ldhe] 2023 vfHkçsr gS( ¼N½ Þvk;ksx ßls fo|qr vf/kfu;e] 2003 dh /kkjk 76 dh mi&/kkjk ¼1½ eas lanfHkZr dsUæh; fo|qr fofu;ked vk;ksx ¼lhbZvkjlh½ vfHkçsr gS( ¼t½ Þvuqikyu ra= ßdk ogh vFkZ gksxk tks le;&le; ij ;Fkk la'kksf/kr] dkcZu ØsfMV O;kikj Ldhe] 2023 dh /kkjk 2 ds [kaM ¼N½ es a mls çnku fd;k x;k gS( ¼>½ ^vuqikyu o"k Zd*k ogh vFkZ gksxk tks le;&le; ij ;Fkk la'kksf/kr lhlhVh,l ds v/khu vuqikyu ra= ds fy, foLr`r fØ;kfof/k ds v/khu mls çnku fd;k x;k gS( ¼¥½ ÞbZlh vf/kfu;e ßls ÅtkZ laj{k.k vf/kfu;e] 2001 ¼2001 dk 52½ vfHkçsr gS( ¼V½ ÞbZih vf/kfu;e ßls i;kZoj.k laj{k.k vf/kfu;e] 1986 ¼1986 dk 29½ vfHkçsr gS( ¼B½ Þ¶yksj dher ßls og U;wure dher vfHkçsr gS ftl ij dkcZu ØsfMV çek.ki=ks a dk O;kikj fd;k tk,xk( ¼M½ ÞQksjfc;jsal dherß ls og vf/kdre dher vfHkçsr gS ftl ij dkcZu ØsfMV çek.ki=ks a dk O;kikj fd;k tk,xk( ¼<½ ^cktkj* ls og eap vfHkçsr gS tgk¡ Øsrk vkSj foØsrk lhlhlh dks [kjhnrs ;k cspr s gSa( ¼.k½ Þjk"Vªh; lapkyu lfefrß ls Hkkjrh; dkcZu cktkj ds fy, dsUæ ljdkj }kjk xfBr lfefr gS ftls le;&le; ij ;Fkk la'kksf/kr dkcZu ØsfMV O;kikj Ldhe] 2023 dh /kkjk 4 eas ;Fkk çnÙk dk;Z lkSais x, gSa( ¼r½ ÞxSj&ck/; bdkb;k ¡dßk ogh vFkZ gksxk tks le;&le; ij ;Fkk la'kksf/kr dkcZu ØsfMV O;kikj Ldhe] 2023 dh /kkjk 2 ds [kaM ¼V½ es a mls çnku fd;k x;k gS( ¼Fk½ Þck/; bdkb;k¡ ßdk ogh vFkZ gksxk tks le;&le; ij ;Fkk la'kksf/kr dkcZu ØsfMV O;kikj Ldhe] 2023 dh /kkjk 2 ds [kaM ¼B½ es a mls çnku fd;k x;k gS( ¼n½ Þv‚QlsV ra=ß dk ogh vFkZ gksxk tks dkcZu ØsfMV O;kikj Ldhe] 2023 dh /kkjk 2 ds [kaM ¼Bd½ eas mls çnku fd;k x;k gS( ¼/k½ Þikoj ,Dlpsatß ls vk;ksx }kjk tkjh dsfofovk ¼ikoj cktkj½ fofu;e] 2021 vkSj mlds la'kks/ku vkSj iqujkf/kfu;eu eas ;Fkk ifjHkkf"kr ikoj ,Dlpsta vfHkçsr gS( ¼u½ Þikoj cktkj fofu;eß ls le;&le; ij ;Fkk la'kksf/kr dsUæh; fo|qr fofu;ked vk;ksx ¼ikoj cktkj½ fofu;e] 2021 vfHkçsr gS( ¼i½ Þiath—r bdkbZß dk ogh vFkZ gksxk tks bZlh vf/kfu;e dh /kkjk 2 ds [kaM ¼Fkd½ es a mls çnku fd;k x;k gS( ¼Q½ ÞjftLVªh ßls le;&le; ij ;Fkk la'kksf/kr dkcZu ØsfMV O;kikj Ldhe] 2023 ds laca/k eas bu fofu;eksa eas ;Fkk ifjHkkf"kr ,sl s dk;ksZa dks djus ds fy, fo|qr ea=ky; eas Hkkjr ljdkj }kjk ukfer ,tsla h vfHkçsr gS( ¼2½ ;FkkiwoksZä ds flok; vkSj tc rd fd fo"k;&oLrq ds lanHkZ eas vU;Fkk visf{kr u gks] bu fofu;eksa eas ç;qä ,sl s 'kCnksa vkSj vfHkO;fä;ks]a tks bleas ifjHkkf"kr ugha gSa] fdUr q vf/kfu;e] ;k bZlh vf/kfu;e ;k dkcZu ØsfMV O;kikj Ldhe] 2023 ;k bl vk;ksx ds fdlh vU; fofu;eksa ;k Hkkjr ljdkj }kjk tkjh fdlh vU; fu;eksa eas ifjHkkf"kr gSa] dk ogh vFkZ gksxk tks Øe'k% vf/kfu;e] ;k bZlh vf/kfu;e ;k mlds v/khu tkjh ,sl s vU; fu;eksa ;k fofu;eks a eas mUgs a çnku x;k gSA 3- mís'; bu fofu;eks a dk mís'; ikoj ,Dlpsta ks a ij ;k lhlhVh,l ds vuqlkj i`Fkd vkns'k }kjk vk;ksx }kjk ;Fkk vuqKkr ,slh fdlh vU; eksM ds ek/;e ls ck/; vkSj xSj&ck/; bdkb;ks a ds chp dkcZu ØsfMV çek.ki=ks a ds fofue; ds fy, <kapk rS;kj djuk gSA[भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 3 4- dk;Z{ks = ;s fofu;e ikoj ,Dlpsta ¼,Dlpsta ks½a ij] ;k lhlhVh,l ds vuqlj.k eas vk;ksx }kjk ;Fkk vuqKkr ,sl s fdlh vU; eksM ds ek/;e ls laO;ogkjks a ds fy, v‚Qj fd, x, lhlhlh ij vkSj ikoj cktkj fofu;eks a ds mica/kks a ds vuqlkj ykxw gksxa sA 5- jftLVªh& bu fofu;eks a ds mís'; ls] Hkkjr dk fxzM daVªksyj lhlhlh ds ,Dlpsta ds fy, jftLVªh ds :i es a dk;Z djxs k vkSj le;&le; ij ;Fkk la'kksf/kr lhlhVh,l] 2023 dh /kkjk 6 ds vuqlkj bl mís'; ds fy, vko';d <kapk rS;kj djsxkA 6- ç'kkld ds dk;Z& ¼1½ bZlh vf/kfu;e ds v/khu tkjh lhlhlh ds fuiVku ds mís'; gsrq] C;wjks ç'kkld ds :i eas dk;Z djxs k ¼2½ bu fofu;eksa ds mica/kks a ds v/;/khu] C;wjks & ¼d½ jftLVªh ds lkFk ijke'kZ eas dkcZu ØsfMV O;kikj Ldhe ds vuqlj.k eas] fuEufyf[kr ds fy, vk;ksx dk vuqeksnu ekaxus ds ckn vkSj tu ijke'kZ ds ckn lhlhlh ds laO;ogkjks a ds fy, foLr`r fØ;kfof/k dk fuekZ.k djsxk% i. ikoj ,Dlpsta vkSj jftLVªh] ç'kkld vkSj jftLVªh] vkSj jftLVªh vkSj ck/; bdkb;ks a ,oa xSj&ck/; bdkb;ks a ds chp baVjQsl xfrfof/k;k¡ ;k lhlhVh,l ds vuqlj.k eas vk;ksx }kjk ;Fkk vuqKs; ,slh vU; xfrfof/k;k¡( ii. jftLVªh ds lkFk ck/; vkSj xSj&ck/; bdkb;ks a dk iathdj.k( iii. lhlhlh ds laca/k eas fuiVku] varj.k] vkSj vU; 'ks"k ekeyAs ¼[k½ ikoj ,Dlpsta ks a ij ;k lhlhVh,l ds vuqlj.k es a ;Fkk vuqKs; ,sl s vU; eksM eas lhlhlh ds laO;ogkj ls lacaf/kr ekeyks a evas k;ksx dks lgk;rk çnku djuk( ¼x½ lHkh fgr/kkjdks a dks lqlaxr cktkj lwpuk çlkfjr djuk( ¼?k½ fuxjkuh djuk ;g lqfuf'pr djus ds fy, fd lhlhlh ds fofue; ikjn'khZ <ax ls gq, gSa vkSj vk;ksx dks bu fofu;eks a ds xSj&vuqikyu dh ?kVukvks a dh fjiksVZ djuk( ¼³½ jftLVªh dks ck/; bdkb;ks a vkSj xSj&ck/; bdkb;ks a ls lacaf/kr lqlaxr lwpuk çnku djuk( ¼p½ lhlhlh ls lacaf/kr bZih vf/kfu;e vkSj bZlh vf/kfu;e ds v/khu lHkh vuiq kyu dk ikyu djuk( ¼N½ lacaf/kr ck/; bdkb;ks a vkSj xSj&ck/; bdkb;ks a ds y[s kkvks a ls lhlhlh dh lekfIr ds laca/k eas jftLVªh dks lwfpr djuk( vkSj ¼t½ lhlhlh ds fofue; ds fy, lqpk: baVjQsl gsrq ikoj ,Dlpsta ks a ;k vk;ksx }kjk ;Fkk funsZf'kr ,slh vU; bdkbZ] vkSj jftLVªh ds lkFk leUo; djuk( vkSj ¼>½ bu fofu;eksa ds v/khu ;Fkk lkSais x, ,sl s vU; dk;ksZa dk fuoZgu djukA 7- dkcZu ØsfMV çek.ki= dk eku vkSj oS/k rk& ¼1½ dkcZu ØsfMV çek.ki= dk eku] le;&le; ij ;Fkk la'kksf/kr dkcZu ØsfMV O;kikj Ldhe] 2023 dh /kkjk 2 ds mi&iSjkxzkQ 1¼x½ eas ;Fkk fofufnZ"V gksxkA ¼2½ dkcZu ØsfMV çek.ki= dh oS/krk] vuiq kyu ra= ds v/khu tkjh çek.ki=ks a ds fy, vuqikyu r=a gsrq foLr`r fØ;kfof/k es a vkSj le;&le; ij ;Fkk la'kksf/kr dkcZu ØsfMV O;kikj Ldhe] 2023 dh /kkjk 12 ds v/khu fodflr v‚QlsV r=a ds v/khu tkjh çek.ki=ks a ds fy, v‚QlsV r=a gsrq foLr`r fØ;kfof/k eas ;Fkk fofufnZ"V gksxhA 8- izek.ki=ksa dh Js.kh & ¼1½ lhlhlh dks ck/; vkSj xSjck/; bdkb;ks a ds fy, C;wjks }kjk oxhZÑr fd;k tk,xkA ¼2½ vk;ksx] bl vksj ls fd, x, vkosnu ij] ikoj ekdsZV fofu;eksa ds vuqlkj lhlhlh dh bl izdkj dh Js.kh dh “kq:vkr dh vuqefr n s ldrk gSA 9- izek.ki=ksa esa ysun su & ¼1½ tc rd fd vU;Fkk lhlhVh,l ds vuqlj.k eas vkn”s k }kjk vk;ksx }kjk fo”ks’k :Ik ls vuqefr ugh a nh tkrh gS] rc rd lhlhlh dsoy ikoj ,Dlpsta ds ek/;e ls fuiVk,xk vkSj fdlh vU; <xa ls ughaA4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] ¼2½ lhlh,l ls O;ogkj djus ds fy, nks vyx ckt+kj [k.M gksxa s vFkkZr~ ck/; bdkb;ks a ds fy, vuiq kyu cktkj vkSj xSj ck/; bdkb;ks a ds vkWQlsV cktkjA ¼3½ dsUnzzh; ljdkj ds vuqeksnu ls C;wjks }kjk ck/; vkSj xSjck/; bdkb;ks a dks tkjh fd, x, vkSj fu/kkZfjr Qhl ds Hkqxrku ij lhlhlh jftLVªh eas ØsfMV fd, x, lhlhlh dks fdlh ikoj ,Dlpsta eas ;k lhlhVh,l ds vuqj.k eas fdlh vU; ;ks eksM eas laO;ogkj ds fy, izLrqr fd;k tk ldrk gS vkSj bl izdkj ds lhlhlh fu;ekoyh] dkjksckj fu;ekoyh vkSj laxr bdkb;ks a ds mifof/k;ks]a ;FkkfLFkfr] ds vuqlkj laO;ogkj ds fy, miyC/k gksxa sA ¼4½ lhlhlh ds laO;ogkjks a dh fÝDosla h ekfld vk/kkj ij ;k vk;ksx }kjk vuqeksfnr fØ;kfof/k ds vuqlkj lHkh jftLVMZ bdkb;ks a ds fy, bl izdkj dh vkof/kdrk es a gksxhA ¼5½ lHkh lhlhlh dks le; le; ls ;Fkkla”kksf/kr bZlh vf/kfu;e] 2001 ds mica/kks]a bZih vf/kfu;e] 1986] lhlhVh,l 2023 vkSj bu fofu;eks a ds mica/kks a ds vuqlkj fuiVk;k tk,xkA ¼6½ ikoj ,Dlpsta ks a ;k vuqeÙk bdkb;ka ik=rk ekun.M] lhlhlh dher fMLdojh ra= vkSj ikoj ,Dlpsta ;k vuqeÙk fdlh vU; bdkbZ vkSj jftLVªh ds chp ikjLifjd fØ;k dh izfØ;k dks “kkfey djrs gq, fu;ekoyh] dkjksckj fu;ekoyh vkSj mifof/k;ks a ij vk;ksx dk iwoZ vuqeksnu izkIr djuk gksxk ftles a vU; ckrksa ds lkFk lkFk fuEufyf[kr dks “kkfey fd;k tk,xk & i. lHkh ck/; vkSj xSjck/; bdkb;ka tks ikoj ,Dlpsta ;k vueq Ùk bdkbZ ij lhlhlh ds laO;gkj eas lgHkkfxrk ds fy, fufnZ’V gSa] ikoj ,Dlpats ;k vuqeÙk bdkbZ ds lkFk Loa; dks jftLVj djsxa s] vkSj ii. ck/; vkSj xSjck/; bdkbZ dks fu/kkZfjr Qhl ds Hkqxrku ij jftLVªh eas tkjh fd, vkSj ØsfMV fd, x, lhlhlh dks fdlh ikoj ,Dlpsta ks a ;k vuqeÙk bdkbZ ftls lhlhlh /kkjd Bhd le>rk gS ds fy, laO;ogkj ds fy, izLrqr fd;k tk ldrk gSA bl izdkj ds lhlhlh bl izdkj ds ikoj ,Dlpsta ks ;k vuqeÙk bdkbZ dh fu;ekoyh] vkSj mifof/k;ks a ds vuqlkj laO;ogkj ds fy, miyC/k gksxa sA ¼7½ fdlh cksyh l= eas] ck/; vkSj xSjck/; bdkbZ blds jftLVªh y[s kk eas j[kh dqy lhlhlh dh vf/kdrk eas fcØh cksfy;ka izLrqr ugha djsxhA ¼8½ lacaf/kr jftLVªh ys[kk eas lhlhlh dh miyC/krk eas lHkh ikoj ,Dlpsta ks ;k vuqeÙk bdkbZ eas izLrqr lap;h fcØh cksfy;ks a dks ØkWl psd djasxsA ;fn bl mifofu;e ds mYya?ku uksfVl fd;k tkrk gS] rks jftLVªh bl izdkj dh ck/; vkSj xSjck/; bdkbZ dks pwddrkZ ds :Ik eas ikoj ,Dlpsta ks ;k vuqeÙk bdkbZ dks lwfpr djxs h vkSj bl izdkj dh bdkbZ }kjk izLrqr fdlh cksyh ij dher fMLdojh ds iz;kstu ds fy, ikoj ,Dlpsta ks ;k vuqeÙk bdkbZ }kjk fopkj ugh a fd;k tk,xkA bl izdkj ds cksyhdrkZ }kjk izLrqr cksfy;ka jn~n vkSj vizHkkoh gks tk,axh ;fn lHkh ikoj ,Dlpsta ks ;k vuqeÙk bdkbZ ij bl izdkj dh bdkbZ }kjk izLrqr dqy fcØh cksfy;ka muds jftLVªh y[s kk eas miyC/k lhlhlh dh vis{kk vf/kd gSaA ¼9½ frekgh es a mifofu;e 9 ¼8½ eas fofufnZ’V pwd ds rhu ekeyks a ls vf/kd okyh ck/; vkSj xSjck/; bdkbZ;ks a dks ÅtkZ laj{k.k vf/kfu;e 2001 ds mica/kks a ds vuqlkj yxk, tkus oky s n;s fdlh n.M ds ckotwn vxy s N% ekg ds fy, lhlhlh ds laO;ogkj ls jksdk tk,xkA blds izdkj ds pwddrkZ bdk;ks a dh lwph ekfld vk/kkj ij jftLVªh }kjk izdkf”kr dh tk,xhA ¼10½ ikoj ,Dlpsta ks ;k vuqeÙk bdkbZfuEufyf[kr dk;Z djxs h & i. dk;kZfUor laO;ogkjks]a foÙkh; ck/; ds fjiksVZ Hkstsxh vkSj lacaf/kr bdkb;ks a dks lHkh vU; laxr fjiksVZ HkstsxhA ii. izR;sd laO;ogkj l= ds ckn jftLVªh dks fjiksVZ Hkstuk vkSj ik= bdk;ks a }kjk laO;ogkfjr lhlhlh ds C;ksjs HkstukA ikoj ,Dlpsta ks ;k vueq Ùk bdkbZij lQy laO;ogkj gksus ij] ik= bdkb;ks a dh jftLVªh y[s kks a dk v|ru fd;k tk,xk ftlds }kjk foØsrk y[s kks a dks MsfcV fd;k tk,xk vkSj Øsrk y[s kksa dks ØsfMV fd;k tk,xkA 10- cSafdax vkSj lhlhlh dk leiZ.k cSafdax vkSj lhlhlh dk leiZ.k le; le; ls ;Fkkla”kksf/kr lhlhVh,l 2023 ds vuqikyu r=a vkSj vkWQlsV r=a ds fy, foLr`r fØ;kfof/k es a ;FkkfofufnZ’V gksxkA 11- izek.ki= dh dher& ¼1½ ,d lhlhlh dk eYw ;oxZ lhlhVh,l Ldhe 2023 ds [k.M 2 ¼1½ ¼x½ ds vuqlkj gksxk tks izkIr xzhugkml xSl mRltZuks a dh deh] fujkdj.k ;k ifjgkj ds lerqY; gksxk vkSj dkcZuMkbZvkWDlkbM lerqY; ¼Vhlhvks2bZ½ ds ,d Vu ds lerqY; gksxkA[भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 5 ¼2½ lhlhlh dh cktkj dher vk;ksx }kjk ;Fkkuqeksfnr izfØ;k ds ek/;e ls vuqeÙk bdkbZ ;k lacaf/kr ikoj ,Dlpsta ij ;Fkk vUosf’kr gksxhA ¼3½ lhlhlh dk vuqikyu r=a ds varxZr ¶yksj ,oa Qksjcs;jUl dher ds vanj fofues; gksxk tks C;wjks }kjk izLrqr fd, tku s okys izLrko ij vk;ksx }kjk ;Fkk vuqeksfnr gksxkA ¼4½ vk;ksx] vkns”k }kjk] ikoj ,Dlpsta ks ;k vuqeÙk bdkbZ ;k jftLVªh dks bl izdkj ds funZs”k n s ldrk gS ftls og ;g larq’V gksus ij vko”;d le>rk gS fd fuEufyf[kr ifjfLFkfr;ks a eas dksbZ vfLrRo es a gS ;k xfBr gksuk laHkkfor gS% ¼d½ lhlhlh dh dherks a eas vlkekU; o`f) ;k deh( ¼[k½ lhlhlh dh dherks a eas vkdfLed vfLFkjrk( vkSj ¼x½ ikoj ,Dlpsta ks ;k vuqeÙk bdkbZ ij lhlhlh dk vkdfLed mPp ;k de laO;OgkjA 12- Qhl ,oa izHkk j vk;ksx] C;wjks ds lkFk ijke”kZ djrs gq,] vkns”k }kjk] jftLVªh vkSj lkW¶Vos;j IyVs QkeZ ds izca/ku ds fy, ykxr vkSj O;; dh iwfrZ ds iz;kstu ds fy, jftLVªh ds fy, ck/; vkSj xSjck/; bdkb;ks a }kjk izfrns; Qhl ,oa izHkkjks a dks le; le; ls fu/kkZfjr dj ldrk gSA 13- cktkj fujh{k.k C;wjks dh lgk;rk ls vk;ksx ikoj ekdsZV fofu;eks a ds vuqlkj ikoj ,Dlpsta ks a ;k vuqeÙr bdkbZ ij lhlhlh ds cktkj fujh{k.k dk iz;ksx djxs kA 14- f'kfFky djus dh “kfDr vk;ksx] fyf[kr eas vfHkfyf[kr fd, tkus oky s dkj.kks a ds fy, vkSj f”kfFkyrk iznku djus ds fy, laHkkfor ikfVZ;ks a dks lquokbZ dk volj nsus ds ckn] lkekU; ;k fo”ks’k vkn”s k }kjk] bu fofu;eks a ds fdlh Hkh mica/k dks Loizsj.kk ls ;k fdlh izHkkfor O;fDr }kjk fd, x, vkosnu ijf'kfFky dj ldsxkA 15- fn'kkfun'ksZ tkjh djus dh 'kfDr: ;fn bu fofu;eksa dks izHkkoh cuku s eas dksbZ dfBukbZ mRiUu gksrh gS rks vk;ksx] Loizsj.kk ls ;k fdlh izHkkfor ikVhZ }kjk nkf[ky vkosnu ij] bl izdkj ds funsZ”k tkjh dj ldrk gS ftls fofu;eks a ds mís'; ,oa iz;kstu ds izksRlkgu eas vko”;d le>k tkrk gSA gjçhr flag çqFk,h lfpo [जवज्ञापन-III/4/असा./61/2026-27] CENTRAL ELECTRICITY REGULATORY COMMISSION NOTIFICATION New Delhi, the 27th February, 2026 No RA-14026(13)/1/2024-CERC.— In exercise of powers conferred under sub- section(1) and clause (y) of sub-section (2) of section 178 read with Section 66 of the Electricity Act, 2003 (36 of 2003), Carbon Credit Trading Scheme, 2023 notified by the Ministry of Power, Government of India vide S.O. 2825(E) dated the 28th June 2023 and S.O. 5369(E) dated 19th December 2023 as amended from time to time, for the development of market in carbon for exchange of Carbon Credit Certificates and all other powers enabling it in this behalf, the Central Electricity Regulatory Commission hereby makes the following regulations, 1. SHORT TITLE, COMMENCEMENT AND EXTENT OF APPLICATION - (1) These regulations may be called the Central Electricity Regulatory Commission (Terms and Conditions for Purchase and Sale of Carbon Credit Certificates) Regulations, 2026. (2) These regulations shall come into force from the date of their publication in the Official Gazette. 2. DEFINITIONS - (1) In these regulations, unless the context otherwise requires, a) “Act” means the Electricity Act, 2003(36 of 2003);6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] b) “Administrator” means the Bureau of Energy Efficiency; c) ‘Banking and Surrender of CCCs’ means banking and surrender of CCC as provided in the Detailed Procedure for Compliance Mechanism developed under Section 12 of the Carbon Credit Trading Scheme, 2023, as amended from time to time; d) “Bureau” means the Bureau of Energy Efficiency, a statutory body established by the Government of India, under sub-section (1) of Section 3 of the Energy Conservation Act, 2001 (52 of 2001); e) “Carbon Credit Certificate (CCC)” shall have the same meaning as assigned to it in clause (d) of Section 2 of the Carbon Credit Trading Scheme, 2023, as amended from time to time; f) “Carbon Credit Trading Scheme (CCTS)” means the Carbon Credit Trading Scheme, 2023, as issued by the Ministry of Power in the gazette dated 28.6.2023, as amended from time to time; g) “Commission” means the Central Electricity Regulatory Commission (CERC) referred to in sub-section (1) of Section 76 of the Electricity Act, 2003; h) “Compliance Mechanism” shall have the same meaning as assigned to it in clause (g) of Section 2 of the Carbon Credit Trading Scheme, 2023, as amended from time to time; i) ‘Compliance Year’ shall have the same meaning as assigned to it under the Detailed Procedure for Compliance Mechanism under CCTS, as amended from time to time; j) “EC Act” means the Energy Conservation Act, 2001(52 of 2001); k) “EP Act” means the Environment Protection Act 1986(29 of 1986); l) “Floor Price” means the minimum price at which the Carbon Credit Certificates shall be traded. m) “Forbearance Price” means the maximum price at which the Carbon Credit Certificates shall be traded. n) ‘Market' means a platform where buyers and sellers buy or sell CCCs; o) “National Steering Committee” means the Committee constituted by the Central Government for the Indian Carbon Market and assigned with such functions as given in Section 4 of the Carbon Credit Trading Scheme, 2023, as amended from time to time; p) “Non-Obligated Entities” shall have the same meaning as assigned to it in clause (k) of Section 2 of the Carbon Credit Trading Scheme, 2023, as amended from time to time; q) “Obligated Entities” shall have the same meaning as assigned to it in clause (l) of Section 2 of the Carbon Credit Trading Scheme, 2023, as amended from time to time; r) “Offset mechanism” shall have the same meaning as assigned to it in clause (la) of Section 2 of the Carbon Credit Trading Scheme, 2023; s) “Power Exchange” means the power exchange as defined in the CERC (Power Market) Regulations, 2021, issued by the Commission and includes the amendments and re-enactments thereof. t) “Power Market Regulations” means the Central Electricity Regulatory Commission (Power Market) Regulations, 2021, as amended from time to time; u) “Registered entity” shall have the same meaning as assigned to it in clause (qa) of Section 2 of the EC Act; v) “Registry” means the agency designated by the Government of India in the Ministry of Power to perform such functions as defined in these regulations with respect to Carbon Credit Trading Scheme, 2023, as amended from time to time; (2) Save as aforesaid and unless repugnant to the context of the subject matter otherwise requires, words and expressions used in these regulations and not defined, but defined in the Act or the EC Act or Carbon Credit Trading Scheme, 2023 or any other regulations of this Commission or any other rules issued by the Government of India shall have the meaning assigned to them respectively in the Act, or the EC Act or such other rules or regulations issued thereunder.[भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 7 3. OBJECTIVE The objective of these regulations is to create a framework for the exchange of Carbon Credit Certificates between the Obligated and the Non-Obligated entities on Power Exchanges or through such other mode as may be permitted by the Commission by a separate Order in accordance with the CCTS. 4. SCOPE These regulations shall be applicable to the CCCs offered for transactions on Power Exchange(s), or through such other mode as may be permitted by the Commission pursuant to the CCTS and in accordance with the provisions of the Power Market Regulations. 5. REGISTRY - For the purpose of these Regulations, the Grid Controller of India shall function as the Registry for the exchange of CCCs and shall establish the necessary framework for this purpose in accordance with Section 6 of CCTS 2023, as amended from time to time. 6. FUNCTIONS OF ADMINISTRATOR - (1) For the purpose of dealing with CCCs issued under the EC Act, the Bureau shall act as the Administrator (2) Subject to the provisions of these regulations, the Bureau shall - a) Formulate a detailed procedure for the transaction of CCCs after public consultation and seeking approval of the Commission for the following, in pursuance of the Carbon Credit Trading Scheme in consultation with the Registry: i. Interface activities between Power Exchanges and Registry, Administrator and Registry, and Registry and obligated entities & non-obligated entities, or such other activities as permitted by the Commission pursuant to the CCTS; ii. Registration of obligated and non-obligated entities with the Registry; iii. Dealing, transfer, and other residual matters in relation to CCCs. b) provide assistance to the Commission in the matters involving the transaction of CCCs on Power Exchanges or such other mode as may be permitted pursuant to the CCTS; c) disseminate relevant market information to all stakeholders; d) monitor to ensure that the exchange of CCCs takes place in a transparent manner and report instances of non-compliance with these Regulations to the Commission; e) provide relevant information regarding Obligated Entities and Non- Obligated Entities to the Registry; f) adhere to all compliance under the EP Act and EC Act pertaining to CCCs. g) intimate the Registry regarding the expiry of CCCs from the accounts of the concerned Obligated Entity and Non-Obligated Entities; and h) coordinate with the Power Exchanges or such other entity as directed by the Commission, and Registry for a smooth interface for the exchange of CCCs; and i) discharge such other functions as may be assigned under these Regulations. 7. VALUE AND VALIDITY OF CARBON CREDIT CERTIFICATE – (1) The value of the carbon credit certificate shall be as specified in sub- paragraph 1(c) of Section 2 of the Carbon Credit Trading Scheme, 2023, as amended from time to time. (2) The validity of the carbon credit certificate shall be as specified in the Detailed Procedure for Compliance Mechanism for certificates issued under the Compliance Mechanism and in the Detailed Procedure for Offset Mechanism for certificates issued under the Offset Mechanism, developed under Section 12 of the Carbon Credit Trading Scheme, 2023, as amended from time to time.8 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] 8. CATEGORY OF CERTIFICATES - (1) CCCs shall be categorised by the Bureau for the obligated and the non- obligated entities. (2) The Commission may, on an application made in this behalf, permit the introduction of such category of CCCs in accordance with the Power Market Regulations. 9. DEALING IN THE CERTIFICATES - (1) Unless otherwise specifically permitted by the Commission by order pursuant to the CCTS, the CCCs shall be dealt with only through the Power Exchange and not in any other manner. (2) There shall be two separate market segments for dealing in CCCs, namely, the Compliance Market for the Obligated entities and the Offset Market for the non-obligated entities. (3) The CCCs issued to the obligated or the non-obligated entities by the Bureau on the approval of the Central Government and credited in the CCC Registry upon payment of stipulated fees may be placed for dealing in any of the Power Exchanges or in any other or mode permitted pursuant to the CCTS and such CCCs shall be available for dealing in accordance with the Rules, Business Rules and Bye-Laws of the relevant entities, as the case may be. (4) The frequency of transactions of CCCs shall be on a monthly basis or in such periodicity for all registered entities as per the procedure approved by the Commission. (5) All CCCs shall be dealt with as per the provisions of the EC Act, 2001, the EP Act 1986, CCTS 2023, and these Regulations, as amended from time to time. (6) Power Exchanges or the permitted entities shall obtain prior approval of the Commission on the Rules, Business Rules, and Bye-Laws, including the eligibility criteria, CCCs’ price discovery mechanism, and process of interaction between the Power Exchange or any other permitted entity and Registry, which inter alia shall include the following - i. All the obligated and the non-obligated entities that intend to participate in the dealing of CCCs on Power Exchange or the permitted entity shall register themselves with the Power. ii. Exchange or the permitted entity, and ii. The CCCs issued and credited in the registry upon payment of stipulated fees, to the obligated or the non-obligated entity, may be placed for dealing in any of the Power Exchanges or the permitted entity as the CCC holder may consider appropriate. Such CCCs shall be available for dealing in accordance with the Rules, Business Rules, and Bye-rules of such Power Exchanges(s) or the permitted entity. (7) In any bidding session, an obligated or non-obligated entity shall not place sale bids in excess of the total CCCs held in its Registry Account. (8) The Registry shall cross-check the cumulative sale bids placed on all the Power Exchanges or the permitted entity with the availability of CCCs in the respective Registry account(s). In case a breach of this sub-regulation is noticed, the Registry shall intimate the Power Exchanges or the permitted entity to treat such obligated or non-obligated entity as a defaulter, and any bid submitted by such entity shall not be considered by the Power Exchange or the permitted entity for the purpose of price discovery. The bids submitted by such bidders shall become void and ineffective if the total sale bids submitted by such entity on all the Power Exchanges or the permitted entity are more than the available CCCs in their Registry account. (9) The Obligated or non-obligated entities with more than three cases of default specified in sub- regulation 9(8) in a quarter shall be barred from dealing with CCCs for the next six months, notwithstanding any penalty due to be imposed as per the provisions of the Energy Conservation Act, 2001. The list of such defaulting entities shall be published by the Registry on a monthly basis.[भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 9 (10) The Power Exchanges or the permitted entity shall - i. Send reports for the executed transactions, financial obligation, and all other relevant reports to the respective entities; ii. Report to the Registry, after every dealing session, details of the CCCs transacted by the eligible entities. On a successful transaction on Power Exchange or the permitted entity, the Registry Accounts of the eligible entities shall be updated, whereby the sellers’ accounts shall be debited, and the buyers’ accounts shall be credited. 10. BANKING AND SURRENDER OF CCCS The Banking and Surrender of CCCs shall be as specified in the Detailed Procedure for Compliance Mechanism and Offset Mechanism of the CCTS 2023, as amended from time to time. 11. PRICING OF CERTIFICATE - (1) The denomination of one CCC shall be as per clause 2(1) (c) of the CCTS Scheme 2023, which shall be equal to a reduction, removal or avoidance of greenhouse gas emissions achieved and shall be equivalent to one ton of carbon dioxide equivalent (tCO2e). (2) The market price of CCC shall be as discovered at the respective Power Exchange or the permitted entity through the process as approved by the Commission. (3) The CCCs shall be exchanged within the floor and forbearance price under the Compliance mechanism, which shall be as approved by the Commission on a proposal to be submitted by the Bureau. (4) The Commission may, by order, give such directions to the Power Exchange(s) or the permitted entity or the Registry as may be considered necessary, on being satisfied that any of the following circumstances exist or are likely to occur: (a) Abnormal increase or decrease in prices of CCCs; (b) Sudden volatility in the prices of CCCs; and (c) Sudden high or low dealing of CCCs on a Power Exchange or the permitted entity. 12. FEES AND CHARGES - The Commission, in consultation with the Bureau, may from time to time determine, by order, the fees and charges payable by the obligated and the Non- obligated entities to the Registry for the purpose of meeting the costs and expenses towards the management of the Registry and the software platform. 13. MARKET OVERSIGHT - The Commission, assisted by the Bureau, shall exercise market oversight over CCCs on Power Exchanges or the permitted entity in accordance with the Power Market Regulations. 14. POWER TO RELAX - The Commission may, by general or special order, for reasons to be recorded in writing, and after giving an opportunity of hearing to the parties likely to be affected by the grant of relaxation, relax any of the provisions of these regulations on its own motion or on an application made before it by any affected party. 15. POWER TO ISSUE DIRECTIONS - If any difficulty arises in giving effect to these Regulations, the Commission may, on its own motion or on an application filed by any affected party, issue such directions as may be considered necessary in furtherance of the objective and purpose of the Regulations. HARPREET SINGH PRUTHI, Secy. [ADVT.-III/4/Exty./61/2026-27] Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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