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Escerts trading second session dated 03rd October 2017

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Second trading session for ESCerts was held over the Exchange on 3rd Oct, 2017. Total 40 designated consumers (DC) were participated. The Market Clearing Volume (MCV) was determined at 23,295 ESCerts and Market Clearing Price was determined at Rs. 1200 per ESCerts.

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Escerts trading second session dated 03rd October 2017

  1. 1. ESCert Trading Analysis Bicon Consultants Page 1 of 4 ESCerts Trading - Second session dated 03rd October, 2017 Background: National Mission on Enhanced Energy Efficiency (NMEEE) is one of the eight missions which form India’s National Action Plan on Climate Change (NAPCC), formulated in the year 2008.The objective of this mission is to unlock energy efficiency opportunities through market based approach. Perform, Achieve and Trade (PAT) is one of the components of NMEEE. This is a regulatory instrument to reduce specific energy consumption in energy intensive industries, with an associated market based mechanism to enhance the cost effectiveness through certification of excess energy saving which can be traded with those plants who were under achievers of their targets. Facts of ESCerts Second trading phase: Second trading session for ESCerts was held over the Exchange on 3rd Oct, 2017. Total 40 designated consumers (DC) were participated. The Market Clearing Volume (MCV) was determined at 23,295 ESCerts and Market Clearing Price was determined at Rs. 1200 per ESCerts. Results for 2nd Trading Phase of ESCerts Particulars INR Sell Bids (ESCerts) 2,36,031 Purchase Bids (ESCerts) 51,925 Trade Volume (ESCerts) 23,295 Price Discovered (Rs/ ESCerts) 1200 No of Participants 40
  2. 2. ESCert Trading Analysis Bicon Consultants Page 2 of 4 Figure 1: No of ESCerts Sell Bid vs Price of ESCerts As per Ministry of Power notification G.S.R . 373(E)dated 31st March, 2016 the price of 1 tonne of oil equivalent (i.e. one ESCert) is INR 10,968.The second trading session has witness the price of the sell bid has crossed the notified amount. Around 54% of the total sell bids are quoted above INR 5000. Figure 2: No of ESCerts Buy Bids vs Price of ESCerts Approx 45% of ESCerts of the total buy bids are quoted above MCP. 0 5000 10000 15000 20000 25000 30000 35000 750 810 1000 1125 1200 1500 1625 1700 1875 1940 2000 2500 3000 3375 3500 3875 4000 4500 5000 5125 5500 6000 6250 7000 9000 9250 9500 11000 SellBid Price of ESCerts Sell Bid (No of ESCerts) 0 2000 4000 6000 8000 10000 12000 14000 16000 18000 2000 1500 1250 1200 1000 500 BuyBid Price of ESCerts Buy Bid (No of ESCerts)
  3. 3. ESCert Trading Analysis Bicon Consultants Page 3 of 4 Figure 3: Sell bid share of ESCerts The above figure depicts that 90.14% of the total sell bid ESCerts were quoted above MCP. Approx 10% of the ESCerts got cleared in the second trading session held on 03rd October, 2017. Figure 4: Purchase bid share of ESCerts Around 45 % of the total purchase bids were cleared and 55% of the Purchase bids were quoted above the clearing price. 1St Trading session v/s 2nd Trading session Total sell bid and purchase bid of the ESCerts remain more or less similar over the two trading session, whereas the cleared volume rose up by 110% approx. Total 34199 nos of ESCerts were cleared in first two phase of trading. 9.86% 90.14% Sell bid share of ESCerts Below MCP Above MCP 44.86% 55.13% Purchase bid Share of ESCerts Above MCP Below MCP
  4. 4. ESCert Trading Analysis Bicon Consultants Page 4 of 4 Figure 5: Comparison between 1st phase and 2nd phase of trading Figure 6: Statistics of ESCerts About 2.4% of the total ESCerts to be purchased were traded over the two trading session. Remaining 13.8 Lacs of ESCerts are to be traded over twelve number of trading session by the compliance period of 31st DEC, 2017. For previous article on First Trading Session on EScerts click here For all other articles: click here Disclaimer: The analysis is based on certain assumptions. This reported is intended for prescribed users. Bicon will not be liable for use of the analysis and decisions based on this analysis. 0 50000 100000 150000 200000 250000 300000 Sell Bids (ESCerts) Purchase Bids (ESCerts) Cleared Volume (ESCerts) 2nd Trading Phase 1st Trading Phase 97.6% 2.4% Statistics of ESCerts Remaining ESCerts Traded ESCerts

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