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IEX trades 13 lac ESCerts under PAT Cycle 1

Posted On: 2018-01-18 04:29:16

IEX witnessed a total trade of 12,98,904 ESCerts under PAT Cycle 1 which commenced on September 26th, 2017 and continued until 16th January, 2018. The ESCert trading took place on every Tuesday and a total of 17 trading sessions have taken place.

The total buy requirement for PAT Cycle-1 based on the Designated Consumers (DC) was about 14.25 lacs out of which 12.98 lacs ESCerts were traded during the period, representing 90% of the total obligation. The ESCert market at IEX saw price variation from Rs. 200 per ESCert to maximum of Rs.1200 per ESCert.

The highest trade of 4.49 ESCerts was on December 19th, 2017, which alone amounted to about 35% of the total trade at IEX.

Energy Saving Certificate (ESCert) is a certificate issued by Bureau of Energy Efficiency (BEE) for every metric ton of oil equivalent energy (mToe) saving achieved by the DC over and above the targets set in PAT Cycle 1. As per CERC Regulation the ESCerts can only be traded on power exchanges. Of the two operating exchanges, the ESCert trading was only taking place at IEX. Unlike Renewable Energy Certificate, the Energy Saving Certificate does not have floor or ceiling prices under the CERC Regulations and the price is discovered competitively on the exchange platform based on the buy sell dynamics.

According to the Bureau of Energy Efficiency, out of the 428 Designated Consumers (DCs) in PAT Cycle 1, 318 are sellers and 110 are buyers. At IEX, 97 out of 110 buying DCs and 184 out of 318 selling DCs were registered representing thermal power plant, cement, textile, aluminum, iron and steel, fertilizer and chlor-alkali sectors. Among them the buyers from aluminum, cement, chlor-alkali, fertilizer, thermal and textile sector have met their compliance requirement while textile sector have only managed to meet 87% of their compliance.

Source: Equity Bulls

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