IEX, PXIL Green Certificate Sales Nosedive 49.34% in August

The drop in the sales of RECs took place within a time period of 1 month as it was around 16.18 lakh in July, 2018.

Sales of Renewable Energy Certificates (REC) plunged around 49.34 percent to 8.19 lakh units on the country’s REC Exchanges, Indian Energy Exchange (IEX) and Power Exchange of India (PXIL).

The drop in the sales of RECs took place within a time period of 1 month as it was around 16.18 lakh in July, 2018.

Further, power distribution companies, open access consumer and captive consumers are liable to procure RECs under the Renewable Purchase Obligation (RPO) mandated by the state/central authorities. They are under obligation to buy RECs from renewable energy producers to meet this norm.

Both the exchanges conduct the REC auction on every last Wednesday of each month. IEX sold 3,11,797 RECs whereas PXIL sold 5,07,811 RECs.

However, In July this year, the PXIL and IEX sold 6,17,757 and 10,00,312 RECs respectively, totaling 16,18,069 RECs, as per data available on both the exchanges.

“The PXIL successfully conducted REC trading for the month of August 2018. PXIL attained a market share of 56 per cent in solar REC segment and overall 38 per cent market share,” the exchange said.

The IEX said in a statement, “The REC trading session held on August 29, 2018, saw a total trade of 5,07,811 lakh RECs comprising of 2,91,588 lakh non-solar RECs and 2,16,223 lakh solar RECs. The distribution companies emerged as the major buyers in the session followed by open access and captive consumers.”

Source: PTI