REC Market Trade Report -January 2016

A total of 2,05,192 RECs were traded in the REC Market session on 27th January, 2016 held at IEX. Out of this, 1,64,004 were N-Solar and 41,188 were Solar RECs. In the non-solar segment, total buy bids were 1,64,004 and total sell bids were 75,85,847. All the buy bids were cleared at floor price of Rs 1,500 per REC. In the solar segment, total buy bids were 41,188 RECs and sell bids were 24,95,537 RECs. All buy bids were cleared at floor price of Rs 3,500 per REC. The trade this month saw a major decrease in traded volumes over the previous month when a total of 8,65,675 RECs were traded. Moreover, the volume traded this month decreased by over 50% as compared to January, 2015 session when 4,23,731 RECs were traded. Participants: A total of 1,210 participants traded at IEX with 784 participants in non-solar segment and 426 participants in the solar segment. On an overall basis, a total of 2,746 participants are registered in the REC segment at IEX. Of this, 801 are Eligible Entities (RE Generators), 1,933 are Obligated Entities (DISCOMs, Open Access Consumers & Captive Generators) and 12 are registered as Voluntary Entities.

PXIL successfully conducted REC trading for the month of January 2016. The total cleared volume on the exchange was 1, 96,747 RECs that led to PXIL having a Market Share of 48.95%. In this month clearing ratio was 3.03% due to low demand side participation. During this trading session, the prices in the solar and non-solar categories have remained at the floor level. Prior to today’s auction more than 1.74 Crore RECs were available in the market for trade; however the traded volume is low on account of non-fulfillment of RPO compliance by major utilities. The traded volumes are expected to increase in the remaining two months of the year as many obligated entities would start purchasing REC’s to meet their RPO targets.

  IEX PXIL Total
Sell Bids (RECs) - Non Solar 75,85,847 57,89,152 13374999
Sell Bids (RECs) - Solar 24,95,537 6,93,116 31,88,653
Buy Bids (RECs) - Non Solar 1,64,004 1,80,515 3,44,519
Buy Bids (RECs) - Solar 41,188 16,232 57,420
Market Clearing Price (Rs./REC) - Non Solar 1,500 1,500  
Market Clearing Price (Rs./REC) - Solar 3,500 3,500  
Market Clearing Volume (# RECs) - Non Solar 1,64,004 1,80,515 3,44,519
Market Clearing Volume (# RECs) - Solar 41,188 16,232 57,420