REC Trading Report – August 2013

Market continued to perform poorly as prices remained at floor for both non solar and solar RECs. There were major pronouncements this month on the RPO front which includes  one of the most industrialized like Maharashtra, coming with a stern compliance order by the end of Fy14. Owing to these developments, market performance is expected to improve but only in the last quarters i.e. Q3 and Q4 of FY14. REC inventory closed with 3187508.

Non Solar RECs

For non solar credits, the clearing volumes, as compared to previous trading session (REC Trading Report – July 2013) plunged by 56% and 89 % at IEX and PXIL respectively. As evident in the chart below, the supply continued to grow.

 Fig 1: Non Solar REC Trade Stats – August 2013

 Fig 2 : Non Solar REC Market Clearing Price – August 2013

Solar RECs

As compared to July 2013, clearing volumes  at both exchanges increased by a modest 16.2 %.  Supply almost doubled at IEX as total supply in the market breached 30000 mark.

 Fig 3: Solar REC Trade Stats – August 2013

 Prices at both exchanges was 9300 per solar REC.

Fig 4 : Solar REC Market Clearing Price – August 2013