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Renewable Energy Certificates trading in May sees a huge volume surge

The  trading of Renewable Energy Certificates (REC) commenced from Wednesday 23rd of February, 2011, in the Indian Energy Exchange. The the  Power Exchange India Ltd (PXIL) had mentioned that they will start trading in Renewable Energy Certificates (RECs) from March 30.

The first trading session of renewable energy receipts (REC) on March 30, witnessed a total of 424 non-solar RECs traded on two power exchanges.

While 274 non-solar RECs got traded on PXIL at a clearing price of Rs 2225 per certificate, 150 non-solar RECs were transacted on India Energy Exchange at a price of Rs 3,900 per REC for an average price of Rs. 3,062.50.

 REC trading for the month of April that was conducted in the two exchanges, witnessed buy bids for 260 certificates at the floor price with about 4046 certificates that were offered for sale in the India Energy Exchange(IEX).  260 certificates traded at the floor price in  3 transactions with 3 participants in IEX. On  the Power Exchange (PXIL), 565 Non Solar REC were offered for sale with no buyers or transactions.

According to reports, trading volumes in India’s new market for renewable-energy credits surged more than 70-fold in its fourth session.

Buyers today purchased 18,502 renewable energy certificates, or RECs, at the floor price of 1,500 rupees ($33), according to data from REConnect Energy Solutions Pvt., an Indore-based trader of the credits, sent to Bloomberg News. In the previous session last month, only 260 were sold.

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