RE Chronicles - From the Editor's desk - EfficientCarbon

lower than this figure owing to lower clearing prices which will stay at ... Against Sell Bids of 3363, 1876 RECs were put up for sale and 1791 got cleared at an .... Tamil Nadu can have remarkable opportunities in the solar energy domain.
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RE Chronicles - From the Editor’s desk Hello Readers. Hope you enjoyed the third issue of RE Chronicles. We would love to have your feedback on which articles you liked and which ones you didn’t. The Tamil Nadu Solar Policy released on 20th October, 2012 has received attention from entire nation for its progressive nature and imposition of high Solar Power Obligation (SPO) on industries. While the Solar industry welcomed the policy, concerns are being raised on the applicability and ability to meet such stringent requirements under such short notice. Not to mention the power crisis that has already emaciated the industry sector. Turn to page 6 for a separate article covering the various features of this Solar Policy. We are once again bringing to you the monthly REC Inventory and Trading update and the capacity addition under REC scheme in the month of October. Though the Solar REC trading grew by 54% both in terms of number of RECs traded and Traded Value, the Non-Solar REC trading continued to be gloomy with Supply standing at 5 times that of demand. This resulted in a very high closing balance and hence a very high opening balance for next month. We, at EfficientCarbon, are committed to providing the most accurate information to all our readers. However, we also realize that getting the information to our readers in the shortest time is also important so as to keep them informed. Hence, starting next month, we shall be sending RE Chronicles on the immediate next day of REC Trading. We have, as always put in our best efforts in order to come up with the articles in this fourth issue. We hope you would enjoy it as much as we did. Kindly give your valuable feedback on how we can improve RE Chronicles and make it even more delightful and interesting for you. Happy reading!!

REC Trading Update – October 2012 REC Inventory: Opening at a little over 0.9 Million, October trading session closed with an inventory balance of close to 1.3 Million RECs. The following sections give an update on the Non-Solar and Solar front.

Non-Solar The month of October started with an Opening Balance of 902320 Non-Solar RECs. Over the course of the month, 619946 Non-Solar RECs were issued thus putting the available number at a little over 1.52 Million. Of these, only 1012660 were put up for trading. Buy bids of 222700, all of which were cleared, led to a closing balance of 1299566. Following table gives the Non-Solar Inventory statistics for the last 3 months. Non-Solar REC Inventory for Aug-2012 to Oct-2012 (as on 31-Oct-2012) Month, Year

Opening Balance

REC Issued

REC Redeemed

Closing Balance

August, 2012

397941

474594

273893

598642

September, 2012

598642

568124

264446

902320

October, 2012

902320

619946

222700

1299566

Solar Due to an increase in issuance in September, the opening balance for October was 464 compared to 181 in September. During the month, 1412 Solar RECs were issued. However, a clearing volume of 1791 led to a sharp decline in closing balance with the final count at a mere 85. Following table throws more light on the Solar Inventory statistics for the last 3 months. Solar REC Inventory for Aug-2012 to Oct-2012 (as on 31-Oct-2012) Month, Year

Opening Balance

REC Issued

REC Redeemed

Closing Balance

August, 2012

370

190

379

181

September, 2012

181

1443

1160

464

October, 2012

464

1412

1791

85

REC trading: The best way to put it would be – “The trend continues”. REC trading activity in October was more or less the same as in September i.e. oversupply of Non-Solar RECs which led to Clearing Price s