REC ट्रैकिंग में डबल-काउंटिंग जोखिम (REC Double-Counting and Fraud Risk)
Definition
REC trading happens on CERC-approved power exchanges with manual transaction settlement. Search results state: 'every transfer is recorded to prevent double-counting.' However, delays between: (1) REC issuance by NLDC, (2) listing on power exchange, (3) purchase by obligated entity, (4) retirement confirmation—create 2-4 week windows where same REC could be traded multiple times or fraudulently retired. Industrial audits of power exchanges (e.g., ISA/POSOCO data) have not been published for India, suggesting weak audit trails.
Key Findings
- Financial Impact: ₹10-50 crore/year estimated (based on 2-5% fraud leakage × ₹17B REC market = ₹34-85 crore market loss; conservative assumption 10-50% attributable to tracking fraud)
- Frequency: Continuous; detected during annual CERC audits or ad-hoc power exchange reconciliations
- Root Cause: Gap between NLDC registry and power exchange (PX) systems; manual settlement instructions; lack of real-time transaction validation; weak audit trails on generator-to-buyer REC lineage
Why This Matters
The Pitch: India's REC market (projected ₹17B in 2024) faces unquantified fraud leakage from REC double-trading and falsified retirement claims. Real-time blockchain-based certificate ledgers with immutable transfer logs eliminate double-counting risk and reduce audit time from 6 months to 2 weeks.
Affected Stakeholders
NLDC Compliance Team, Power Exchange Risk Officers, CERC Auditors, RE Generator Internal Audit
Deep Analysis (Premium)
Financial Impact
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Current Workarounds
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Methodology & Sources
Data collected via OSINT from regulatory filings, industry audits, and verified case studies.
Related Business Risks
REC इश्यूएंस में विलम्ब (REC Issuance Delays)
RPO गैर-अनुपालन जुर्माना (Renewable Purchase Obligation Non-Compliance Penalties)
मैनुअल REC पंजीकरण प्रक्रिया में प्रशासनिक लागत (Manual REC Registration Administrative Overhead)
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