REC trade result – November 2018

This month trading session saw a good price discovery for both solar & non-solar RECs. The market saw a significant price hike in solar as compared to last month. The demand for both solar & non-solar remained consistent while the supply remained limited. As we approach the year-end, the obligated entities are in the process to comply with their obligations and hence the higher demand in order to not face any penalties for non-compliance. However, the highlight of this month’s trade was that solar crossed the floor price of INR 1,000.

Non-Solar: This session the RECs were traded at the price of INR 1260 at PXIL (26.0% above the floor price) and INR 1252 at IEX (25.2% above the floor price). A total of 4,46,861 RECs were traded in this session leaving an inventory of 20,43,871 Non-Solar RECs. (However, a significant portion of these do not participate in trading as they would either be owned by Discom’s or are for self-retention).

Solar: Total number of solar RECs traded in this session was 58,877 (368% decrease from the last months’ trade). The clearing ratio was 100% at PXIL & 100% at IEX respectively (w.r.t floor price). RECs traded at the floor price, i.e. INR 1051 at PXIL and at Rs 1101 at IEX.

The overall trade volume (5,05,738 RECs) decreased by almost 39.05% from the last months’ trade volume (7,03,256  RECs).

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