I don’t know which one is a bigger farce – the REC mechanism, or me writing month after month about the REC trading, but I am inclined to believe that the first option is the bigger farce. With that out of the way, here comes the details of the REC trading for this month.
As we cross the halfway mark of this financial year, there has not been any change in the pattern that has been observed during almost every trading since April 2014 – ever increasing number of sell bids, but a very stable and extremely low levels of buy bids. The only difference this time is that the number of RECs available for sale has gone beyond the 1 Crore mark. The monetary value of these unsold RECs at their floor prices is Rs. 1816 Crore – Rs. 350 Crore for Solar RECs(unsold solar RECs – 377,195 @ Rs. 9300/REC) and Rs. 1466 Crores for unsold non-solar RECs(97,73,039 @ Rs. 1500/REC). If this does not lead to any action from the regulators and policymakers to protect the investors, nothing else will.
The trading statistics are as follows