On 31st July 2013, the first trading of Renewable Energy Certificate (RECs) for the 2nd Quarter of 2013-14 was conducted on the power exchanges Indian Electricity Exchange (IEX) and Power Exchange of India (PXI) which has witnessed the increased participation from buyer's for both Solar and Non-Solar segments.
It seams that the ongoing hearing at Appellate Tribunal of Electricity for the petition regarding the Non-Compliance of Renewable Purchase Obligation filed by the renewable energy associations against the State Electricity Regulatory Commissions is the cause for the revival of the REC Market.
This can be inferred from the fact that in comparison to last trading session of June 2013, the participation from the buyers' side has been increased by 37.19% for the Solar segment and 122.67% for the Non-Solar segment.
Further, despite substantial increase in the inventory of RECs, the clearing ratio for Non-Solar RECs has increased by 91.88% whereas for Solar RECs it has reduced to 62.46%.
Major inventory of solar RECs, resulting to a dip in Clearance ratio, has been contributed from the projects set up in the state of Rajasthan.
Nonetheless, with this favorable sign of increase in participation of Buyers from April onwards gives a positive ray of hope for the REC market and thus look forward to have a matured and stable trade pattern in the near future resulting in more investments in Renewable Energy Market in India.
Summary of the REC Trading of July-13 session are as follows:
| Solar REC Segment | Non-Solar REC Segment | |||||||
| IEX | PXIL | Total | % Change | IEX | PXIL | Total | % Change | |
| Buy Bids | 1983 | 46 | 2029 | 37.19% | 72321 | 89081 | 161402 | 122.67% |
| Sell Bids | 12486 | 9194 | 21680 | 265.48% | 1676875 | 1095323 | 2772198 | 16.04% |
| Market Clearing Volume | 1983 | 46 | 2029 | 37.19% | 72321 | 89081 | 161402 | 122.67% |
| Market Clearing Price (Rs./REC) | 9300 | 9300 | 9300 | - | 1500 | 1500 | 1500 | - |
| REC Inventory | |||
| Solar | Non-Solar | Total | |
| Opening Balance | 4453 | 2407831 | 2412284 |
| RECs Issued | 17227 | 462962 | 480189 |
| Total RECs available | 21680 | 2870793 | 2892473 |
| Cleared Volume | 2029 | 161402 | 163431 |
| Closing Balance | 19651 | 2709391 | 2729042 |
No comments:
Post a Comment