Power Update; September 30th, 2013

Good Afternoon Readers,

The week starts with updates from different areas of India’s Power Value Chain:

1.  The REC trading for September saw some improvement with IEX reporting an increase in solar REC buy bids from 1754 in August 2013 to 5880 in September 2013 .  The price for both the months have been at Rs.9300

The no. of participants increased from 135 to 159.

On the non-solar REC side, the buy bids have gone up from 31,101 to 38,195; with the price at Rs.1500.

The no. of participants were the same; 601.

If we analyse the data from a different angle; then we have the number of successful transactions compared to the available sell bids on the solar side have increased from 7.5% in August 2013 to 15% in September 2013; which means only 15% of the available RECs have been bought by obligated entities.

On the non-solar side, the number of successful transactions compared to the available sell bids have decreased from 1.66% in August 2013 to 1.64% in September 2013; which means only 1.64% of available RECs were bought by obligated entities.

 

2. The electricity prices have plunged on energy exchanges in India; from nearly Rs.7 in 2008 they have come down to an average of Rs.2 now.

The reasons cited were Increased power generation, congestion in the grid and poor financial health of distribution companies have brought down electricity prices.

 

3. A recent FICCI report has pointed out that India’s lengthy process are slowing down the implementation of transmission projects.  The current average time from concept to commissioning is about 5 years.

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