 "Nalco rides on London Metal Exchange gains, sees room for more price hikes")
A steep escalation in prices of renewable energy certificates (RECs) has disquieted aluminium makers who are already grappling with business headwinds like depressed international prices and slump in domestic demand.
Industry sources said there is an acute shortage of RECs in the market due to which it has become a sellers’ market. REC prices have spiked by 125 per cent over the past 12 months. For solar power, the price of RECs has soared to Rs 2.25 per Kilowatt Hour (KwH) despite tariffs of solar power averaging at Rs 2.50 per KwH since 2017-18.
“It is imperative that the reduction in prices
