The demand response for REC’s saw good momentum in the October’s trading session. The total no. of Non Solar REC’s and Solar REC’s traded in this month were 13% and 28% higher than the trading session of September. The total transaction value of REC’s hit a sum total of 365 Million INR with over 2.25 Lacs RECs sold this session.
Analysis of Trading:
Non Solar – The clearing ratio stood at 0.94% and 2.24% in IEX and PXIL respectively for Non Solar REC’s. A total of 211442 RECs were redeemed in this trading session which was 13.16% higher than the REC’s sold in the previous month i.e 183599 Non Solar REC’s. Demand at PXIL picked up significantly compared to previous months.
Solar – The clearing ratio for Solar stood at 0.54% and 0.33% in IEX and PXIL respectively. A total of 13851 REC’s were sold in this session which was 27.65 % higher than the REC’s sold in September i.e 10020 Solar REC’s.
The surge in the REC’s demand clearly indicates the increase of focus on the RPO regulations from both the obligators and the regulators. As many states in the recent past, via orders, have strictly stated that the obligated entities will have to comply with the RPO targets, it is expected that the REC demand will pick up pace in the near future.
The September’s trade result can be accessed here.