REC Trade Result April 2016

April, being the first month of the Financial Year to, saw good demand in both segments, as compared to the April-2015. The total transaction value stood at 113 Crores as compared to 213 Crores last month.
 
Analysis of Trading:
 
Non Solar – Clearing ratio in exchange stood at 2.66% and 1.38% in IEX and PXIL respectively for Non Solar REC’s. A total of 290,457 RECs were traded as compared to 11, 14,319 RECs traded in March.
 
Solar – Clearing ratio stood good at 0.98% and 0.26% in IEX and PXIL respectively, with total clearing volume of 25,653, as compared to 152,006 last month.
 
The detailed result is given below:




The graph below is a Y-o-Y graph which depicts the comparison of REC Traded from April 2014 to April 2015 and April 2015 to April 2016.

 
This month also saw significant fall in REC issuance to almost one-third to what it was in March. This can be primarily attributed to the recent amendment to principal REC Regulation, which has caused reduction in supply of RECs to the market from Captive/Self-consuming RE entities. For more details refer our blog.
We are hopeful that the FY 2016-17 will bring good fortune to the REC market, considering the proposed regulatory changes and more stricter enforcement by states, which will bring back stakeholders confidence.