REC Sales Down by 47 Percent in June

Transactions of renewable energy certificates plummeted by over 47 per cent to 4.3 lakh units in August as compared to 8.19 lakh in the same month a year ago due to lower supply, as per official data.

Indian Energy Exchange (IEX) and Power Exchange of India (PXIL) are the two power bourses in the country which are engaged in trading of renewable energy certificates (RECs) and electricity. The trading of RECs is conducted on the last Wednesday of every month.

According to official data, IEX saw total trade of 2.93 lakh RECs in August as compared to 5.07 lakh in the same month last year. Likewise, PXIL recorded sale of 1.37 lakh RECs in the month as compared to 3.12 lakh in August 2018.

IEX data displayed that both non-solar and solar RECs continued to see low supply situation, with buy bids exceeding sell bids due to low inventory. There were buy bids for 12.03 lakh RECs against sell bids for 3.46 lakh RECs for the month of August at IEX.

Correspondingly, there were buy bids for 3.39 lakh RECs and sell bids for 1.66 lakh units for the month of August at PXIL.