IEX Trades 6.44 Lac RECs in Trading Session Held on 30th January’19
Deepthi | Myequity news | Date : 31-01-2019 19:20:00 IST
In the trading session held on Wednesday, 30 January’19, Indian Energy Exchange saw a total trade of 6,44,443 RECs comprising of 5,47,166 Non-Solar RECs and 97,277 Solar RECs. The trading session saw a phenomenal increase of 254% YoY basis and 68% MoM basis.
In fiscal 2018-19 (year to date) IEX has cumulatively traded 6,961,717 RECs over 6,859,296 traded in the same period last year.
A total of 5,47,166 Non-Solar RECs were traded with sell bid at 6,14,309 and buy bid at 9,19,620. The clearing price discovered was Rs. 1,500 per REC.
A total of 97,277 Solar RECs were traded with sell bid at 2,41,580 and buy bid at 5,89,311. The clearing price discovered was Rs. 1,750 per REC.
Both Non-Solar and Solar REC continued to see low supply situation with buy bids exceeding the sell bids, consequently the prices discovered on the exchange have been on the rise. The price for Non-Solar RECs went upto Rs.1500 per REC, an increase of 14% MoM while for Solar REC price increased to Rs 1,750 per REC, an increase of 21% MoM.
Several captive users as well as the distribution companies took pro-active measures to fulfill their RPO obligation and emerged as the major buyers followed by the open access consumers.
KEY HIGHLIGHTS: REC TRADING SESSION HELD ON JANUARY 30, 2019
A total of 760 participants participated in the trading session. Overall 3,467 participants are registered in the REC segment at IEX out of which 732 are Eligible Entities (RE Generators); 2,714 are Obligated Entities (DISCOMs, Open Access Consumers & Captive Generators) and 21 are registered as Voluntary Entities.
IEX is India’s first and largest power exchange offering participants an automated platform to trade in Electricity, Renewable Energy Certificates (RECs) and Energy Saving Certificates (ESCerts). The exchange enables competitive and efficient price discovery, increases the accessibility and transparency of the power market and enhances the speed and efficiency of trade execution. The Exchange is certified for quality management (ISO 9001:2008, Information security management (ISO 27001:2013) and environment management (ISO 14001:2004).