REC Trading Report – May 2013
The second REC trade session of FY 2013-14 (May-13) continued to remain dry in terms of buy side participation. Clearance ratios for Non-Solar RECs remained in single digit and prices softened in Solar RECs. Following are the highlights:
Non Solar RECs
- Market clearing prices at both exchanges remained at Floor i.e. Rs. 1500 per REC.
- Total buy bids of 52968 (up by 19.1 % as compared to April’13 trade session) reflects small increment in buy side participation.
- However, it may be worth to mention that this is the beginning of the compliance year and many serious buyers would ideally want to meet their compliance at the closure of the compliance year (near Q4-FY13/14).
Fig 1 : REC Trading Stats – May 2013
- High number of participants at IEX but low buy side demand reflects absence of DISCOMs and large CPPs.
Fig 2: Non Solar Market clearing Price – May 2013
Solar RECs
- Solar REC markets saw a dip in demand by 43.2 % as compared to last trading session and evidently solar REC prices came down to Rs. 10990 (PXIL) and Rs. 11490 (IEX).
- Supply of solar RECs increased by 57% from 3077 RECs in April 2013 to 4833 RECs this month
Fig 3: Solar REC Trade Stats – May 2013
Fig 4: Solar Market clearing price – May 2013
- With about 150 MW Solar PV capacity already accredited, we may expect supply position to strengthen significantly going forward.
For previous months (April 2013) trade statistics click here and for relevant media articles follow the links :