The Karnataka Electricity Regulatory Commission (KERC) recently ruled that the energy banked and unutilized as of March 31, 2021, including the carried forward banked energy for the financial year 2020 from all renewable sources, both REC (renewable energy certificate) and non-REC route, should be utilized on or before August 31, 2022, by the companies wheeling energy under the wheeling and banking agreement (WBA).