Status of REC trading in the month of January 2014

The trading of Renewable Energy Certificates (REC) in the month of January 2014has experienced a downward trend. There were a total of6,361 solar and 3,58,997 non-solar RECs traded in this month compared to 7,882 solar RECs and 4,03,862 non solar RECs traded in previous month (19% and 11% less trading volume than the previous month for solar and non solar RECs respectively)

However, due to mandatory compliance of RPO targets by 31stMarch 2014, REC trading is expected to go up in the month of March 2014.

Solar REC trade

In the month of January 2014, there were total 6,361Solar 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. 5.91 crores from their RECs sell.  Out of 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
IEX5,51788,8955,5179,3005.13
PXIL84415,6268449,3000.78
Total 6,3611,04,5216,361 5.91

 

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 and PXIL-Jan 14

Non-Solar REC trade

In this month, there were a total of 3,58,997non 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. 53.84 crores from their RECs sale. 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
IEX78,95525,57,66678,955150011.84
PXIL2,80,04219,64,8962,80,042150042.00
Total 3,58,99745,22,5623,58,997 53.84

 

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 and PXIL_Jan 14

Reference: Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL), REC registry of India, Agneya Carbon Ventures –monthly newsletter.

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