Power Exchange India Limited (PXIL) conducted its Renewable Energy Certificate (REC) trading session for the month of April on 25th April, 2012. The total orders received for Non-Solar Certificates were 53,655 comprising of 26,813 buy bid and 26,842 sell bid. From the total bids received for the trade, 8,949 certificates were cleared today at a price of Rs. 2,201 per certificate. Total buy bids received for Solar Certificates were 225. Several members including obligated entities like the distribution licensees, captive power plants, traders and open access users participated in this session.
Central Electricity Regulatory Commission (CERC) had come up with REC mechanism to incentivize the RE generators through a market based mechanism of trading and promoting newer investments into the sector. While the primary goal of the REC is to address the needs of the compliance market, it also serves as a useful tool for meeting the ‘green electricity’ needs of the voluntary market.
Trading in RECs which started with a slow response has gained momentum within a few months. PXIL, in its endeavor to offer easy access, transparent and fully electronic market place, has developed a robust and user friendly platform to trade on RECs. PXIL had launched its platform in March 30, 2011 to facilitate trade of these certificates and captured 70% of the market share in the first trade itself.
Power Exchange India Limited (PXIL) is India’s first institutionally promoted Power Exchange that provides innovative and credible solutions to transform the Indian Power Markets. It is a joint venture of National Stock Exchange (NSE) and National Commodity & Derivatives Exchange (NCDEX). PXIL’s unique combination of local insights and global perspectives helps its stakeholders make better informed business and investment decisions. The Exchange is currently operating in Day Ahead, Week Ahead and a Contingency Market as well.
For more information, please visit www.powerexindia.com or contact:
Power Exchange India Limited (PXIL)
3rd Floor, ‘B’ wing Exchange plaza,
Bandra kurla complex, Bandra E,
Mumbai 400051, India
Tel: + 91 2226530500,