The trading of solar and non-solar renewable energy certificates (RECs) has commenced from April 2018. The RECs are being traded at the new floor and forbearance prices set by the Central Electricity Regulatory Commission (CERC) in its order passed in March 2017. A total of 875,118 solar RECs and 187,543 non-solar RECs were traded at a price of Rs 1,000 per REC during the month of April.
The Indian Energy Exchange (IEX), registered a total of 6,44,151 buy bids for solar RECs, while the Power Exchange India Limited (PXIL), registered 2,30,967 buy bids for solar RECs.
According to sources, a total of 884 participants traded in the IEX REC trading session held in April 2018 and IEX witnessed a 72 per cent overall increase in REC trading over April 2017. In addition, about, 281,000 RECs were cleared at PXIL, creating a market share of 26 per cent and a clearing ratio of 31 per cent during the period.