Status of REC trading for the month of February 2014

Renewable Energy Certificate (REC) trade session was conducted yesterday, 26th February 2014 at Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL). This is the second last session of current financial year. This month has shown 31% and 6% growth in solar and non-solar REC trade volume respectively than the previous month.

IEX and PXIL have 94% and 6% share in total solar REC trade volume and 46% and 54% share in total non-solar REC trade volume respectively.

March 2014 is the last month for the mandatory Renewable Purchase Obligation (RPO) compliance for obligated entities such as electricity distribution companies, captive consumers, and open access consumers.  These entities can fulfill their RPO target by purchasing RECs at energy exchanges. Since, March 2014 will be the last REC trade session for FY 2014; the trade volume is expected to go up.

Solar REC trade

In the month of February 2014, there were total 8,308 Solar RECs that have been traded on both exchanges. The price was discovered at Rs. 9300 per REC (Floor price) which enabled project developers to earn Rs. 7.73 crores from their RECs sell.  Similarly, like last month, out of the total sales bid of solar RECs, only 6% RECs got traded on both exchanges. Following table shows details of Solar REC trading;

Solar RECBuy BidsSell BidsVolumeTradedPriceRs. per RECTrade ValueRs. Crores
IEX7,8161,14,5397,8169,3007.27
PXIL49217,5274929,3000.46
Total 8,3081,32,0668,308 7.73

 

Following graph shows the volume of solar REC traded on both exchanges and price discovered from past one year;

Total Solar REC Trade at IEX & PXIL -Feb 14

Non-Solar REC trade

In this month, there were a total of 3,78,825 non solar RECs that have been traded on both exchanges. The price discovered at both exchanges is Rs. 1500 per REC which enabled project developers to earn Rs. 56.82 crores from their RECs sale. Similar like last month, out of the total sales bid of non-solar RECs, only 8% RECs got traded on both exchanges.

Following table shows details of Non-solar REC trading;

Non Solar RECBuy BidsSell BidsVolumeTradedPriceRs. per RECTrade ValueRs. Crores
IEX1,76,10720,15,3771,76,107150026.42
PXIL2,02,71824,78,3312,02,718150030.41
Total 3,78,82544,93,7083,78,825 56.82

 

Following graph shows the volume of non solar REC traded on both exchanges and price discovered from past one year;

Total  Non-solar REC Trade at IEX & PXIL -Feb 14

Reference: Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL), REC registry of India

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