After the decline in trading numbers in January 2019, trade in solar RECs spiked massively in February 2019. In February 2019, a total of 408,764 solar RECs traded on the Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL) combined. This is 290,238 more solar RECs than the 118,526 solar RECs traded in January 2019.
On the IEX, a total of 383,708 solar RECs traded at ₹1,500 (~$21.15)/REC. There has been a decline of ₹250 (~$3.53)/REC in the cost of solar RECs traded on IEX when compared to the last month. In January 2019, solar RECs traded at ₹1,750 (~$24.68)/REC. A total of 688,507 sale bids and 567,273 buy bids registered on the IEX for solar RECs.
On the PXIL a total of 25,056 solar RECs were traded in February 2019. The solar RECs traded at ₹1,908 (~$26.90)/REC, an increase of ₹408 (~$5.75)/REC when compared to the cost of ₹1,500 (~$21.15)/REC registered in January 2019.
In all, 811,085 non-solar RECs issued after April 1, 2017, traded in February 2019. This was 319,195 more (issued after April 1, 2017) than the 491,890 non-solar RECs (issued after April 1, 2017) traded in January 2019 on the IEX and PXIL together.
On the IEX, 654,592 non-solar RECs issued after April 1, 2017, traded at ₹1,395 (~$19.67)/REC, with sale bid at 1,446,856 and buy bid at 928,439. There was a decline of ₹105 (~$1.48)/REC in the cost when compared to January 2019 in which the cost of a non-solar REC was ₹1,500 (~$21.15)/REC.
On the PXIL, 156,493 non-solar RECs issued after April 1, 2017, traded at ₹1,555 (~$21.93)/REC, with sale bid at 183,516 and buy bid at 282,100. There was an increase of ₹54 (~$0.76)/REC in the cost when compared to January 2019 in which the cost per non-solar REC was ₹1,501 (~$21.16)/REC on PXIL.
“Both non-solar and solar RECs continued to see low supply situation with buy bids exceeding the sell bids. The distribution companies were the major buyers in February 2019 REC trading session followed by captive users and open access consumers. A total of 922 participants participated in the trading session,” said an IEX official.
February 2019 was the second consecutive month in which non-solar RECs issued before April 1, 2017, were traded. A total of 21,000 non-solar RECs issued before April 1, 2017, traded on the IEX at ₹1,500 (~$21.15)/REC. On PXIL, nobody bought non-solar RECs issued before April 1, 2017.
Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.