Jakarta. The role of the futures commodity market in driving the development of new renewable energy (NRE) became the focus in the Plenary Session dialogue at the Energy Mineral Festival (EMF) 2025. The discussion, moderated by the Editor-in-Chief of Beritasatu.com, Syukri Rahmatullah, raised the theme "Finding Common Ground: Development of NRE and Coal Gasification in National Energy Investment."

The Head of Strategic Development at ICDX, Zulfal Paradis, explained that ICDX, which operates under the Ministry of Trade and Bappebti, plays an important role in creating price transparency for commodities.

"Many of Indonesia's leading commodities still have prices determined by other countries. With the existence of a futures commodity exchange, it is hoped that price determination can come from within the country itself," said Zulfal.

At the end of 2024, the Ministry of Trade issued regulations regarding the trading of Renewable Energy Certificates (REC) through the futures exchange. This policy aligns with the government program to encourage more massive management of NRE.

ICDX has been appointed by the Ministry of Trade as the sole official market for REC trading in Indonesia. This appointment is expected to deepen the REC market in Indonesia, providing a regulated platform for buyers and sellers.

According to Zulfal, REC functions as a market-based incentive for NRE developers. Although the government has provided various fiscal incentives, incentives from the market are expected to encourage more NRE projects.

“With the increasing number of registered NRE projects, the national energy mix from NRE is expected to rise,” he stated.

Since it began trading in 2019, REC growth in Indonesia has been significant. In the last five years (2020-2024), it increased by 2,037 percent. This indicates high demand from companies committed to using clean energy. In total, about 33 percent of the NRE capacity in Indonesia has been registered in the REC system.

The high global demand for REC is driven by recognition from various international frameworks that consider REC a credible instrument to claim the use of renewable energy. This attracts multinational companies and investors who want to enter Indonesia, where they are required to use 100% clean energy by their clients or company policies.

Although REC trading in Indonesia is currently voluntary, Zulfal believes the government will move toward more mandatory policies, similar to those implemented in India since 2009.

“Such policies are expected to more strongly encourage the development of NRE in Indonesia,” he concluded.

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