Non Solar RECs
As April is the first month of the compliance year FY 13-14 a low demand situation was expected in this month’s trading session. Out of 18.9 lakh RECs which were put for sale only 44,459 RECs were purchased by the obligated entities.The about 93% of the total available RECs participated in the trade session.
The market clearing price was Rs.1500/REC at both IEX and PXIL which will remain the same in the coming months also as long as the oversupply situation will continue to prevail.
The demand of solar RECs was higher than the supply. Buy bid was 3,522 and the sell bid was 3,077 out of which 2,217 got redeemed. The number of solar projects is continuously increasing under the REC scheme which provide a good amount solar RECs in the coming months.
The price at IEX was Rs.12, 206/REC and at PXIL it was Rs.12, 000/REC.
For information on previous months trading, please visit -March 2013 Trading Report