Categories: REC

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 REC Buy Bids Sell Bids VolumeTraded PriceRs. per REC Trade ValueRs. Crores
IEX 7,816 1,14,539 7,816 9,300 7.27
PXIL 492 17,527 492 9,300 0.46
Total 8,308 1,32,066 8,308 7.73

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

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 REC Buy Bids Sell Bids VolumeTraded PriceRs. per REC Trade ValueRs. Crores
IEX 1,76,107 20,15,377 1,76,107 1500 26.42
PXIL 2,02,718 24,78,331 2,02,718 1500 30.41
Total 3,78,825 44,93,708 3,78,825 56.82

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

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

Shailesh

Shailesh is post graduate in Environment Management from Forest Research Institute (FRI) University, Dehradun, India. Presently he is working in the areas of Environmental and Renewable Energy Advisory Services. He has started GreenCleanGuide.com during his college days.

Leave a Comment

View Comments

Published by

Recent Posts

Ten Largest ESG Funds and Their Performance

In the past, there used to be scepticism in the investment community whether adopting Environmental, Social and Governance (ESG) investing… Read More

15 hours ago

Next Generation Bioplastics – Brands Switching to Biopolymers

Biodegradable plastics seem like a preferable option to keep fossil fuel-based plastics at bay. Although we are still a long… Read More

2 days ago

Why it is better to grow your own organic food

As the novel coronavirus (Covid-19) spreads its reach across the globe, people are forced to stay indoors in view of… Read More

6 days ago

Why tiny homes are the future of sustainable living

If you ask people what is that one thing they would like to have in their life. For many of… Read More

6 days ago

June 2020: Monthly Environmental News Roundup

1. Hundreds of elephants dead in mysterious mass die-off A cluster of elephant deaths in the Okavango Delta was first… Read More

6 days ago

June 2020: Monthly Electric Vehicle News Roundup

1-Apple's Upcoming Electric Vehicle Routing Feature Looks to End Range Anxiety Apple's iOS 14 system introduces a host of new… Read More

1 week ago