Indian Energy Exchange (IEX) said today that 10,904 Energy Saving Certificates were sold in the first ever trading held yesterday.
"In the first-ever Energy Saving Certificate (ESCerts) trading session held on September 26, 2017 at IEX, a total of 10,904 ESCerts were traded at Rs 1,200 per ESCert," IEX said in a statement issued today.
According to the statement, the total buy bids were 50,904 ESCerts whereas the total sell bids were 2,39,644. As many as 39 participants participated in this trading session.
On an overall basis, a total of 77 eligible entities are registered in the ESCert segment at IEX. Of this, 52 Eligible Entities are registered as sellers and 15 Eligible Entities are registered as buyers.
The ESCerts is an instrument issued by Bureau of Energy Efficiency (BEE) for every metric tonne of oil equivalent energy (MToE) saving achieved by the Designated Consumers (DC).
The BEE assigns specific energy consumption target to every DC. The consumers exceeding their targets are issued ESCerts where as those who are not able to meet their targets have to purchase ESCerts.
Each certificate is a unique tradable entity tradable entity traded exclusively on the exchange platform.
The Central Electricity Regulatory Commission (CERC) is the Market Regulator, BEE is the Administrator and POSOCO is the Registry for registering DCs as eligible entities, trading and book-keeping, for the ESCerts Market.
The ESCerts are available for trading on every Tuesday of each month.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.