January 25, 2017

12.88 lakh RECs traded in January: IEX

Business Standard

Power exchange IEX today said that a total of 12.88 lakh renewable energy certificates (RECs) were traded in January.

"A total of 12.88 lakh RECs were traded in the REC trading session held on January 25, 2017 at IEX," it said in a statement.

Power distribution companies as well as open access and captive consumers are under obligation to buy RECs from renewable energy producers under RPO mandated by central/state regulatory commissions.

RECs are aimed at providing an easier avenue for various entities, including power distribution companies, to meet their green energy obligations.

Two power exchanges -- Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL), approved by the Central Electricity Regulatory Commission -- hold auction of RECs on the last Wednesday of every month.

"With trade of 12.48 lakh RECs, the market has set an all-time high record predominantly on purchase by discoms followed by Open Access Consumers and Captive Consumers," the statement said.

Since the beginning of this fiscal (April-January), IEX has traded about 31 lakh RECs.

REC volume trade saw an increase of over 412 per cent over 2.51 lakh RECs traded in the previous month of the same fiscal.

A total of 1,399 participants traded at IEX with 870 participants in non-solar segment and 529 participants in the solar segment.

Overall, a total of 3,418 participants are registered in the REC segment at IEX. Of this, 864 are Eligible Entities (RE Generators) 2,535 are Obligated Entities (discoms, Open Access Consumers & Captive Generators) and 19 are registered as Voluntary Entities.

IEX is country's premier power trading platform.