Facts of ESCerts Trading 13th phase: ESCerts market sees highest ever trade of 4.49 lakh ESCerts on 19th December, 2017. In total, there was a demand for 7,30,885 ESCerts, an increase of nearly 47.5% from last week. This demand was against a total supply of 8,31,224 ESCerts (increase of 91.6% since last week). Trading volumes have increased in recent weeks as the compliance period is coming to a close. Total DCs registered with the registry till date is 336 and total DCs whose application is under process for approval from registry is 38.

1. ESCert Trading Analysis Bicon Consultants
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ESCerts Trading - Thirteenth 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 Trading 13th phase:
ESCerts market sees highest ever trade of 4.49 lakh ESCerts on 19th December, 2017.
Results for 13th Trading Phase of ESCerts
Particulars INR
Sell Bids (ESCerts) 8,31,224
Purchase Bids (ESCerts) 7,30,885
Trade Volume (ESCerts) 4,49,818
Price Discovered
(Rs/ ESCerts)
1000
No of Participants 112
In total, there was a demand for 7,30,885 ESCerts, an increase of nearly 47.5% from last week.
This demand was against a total supply of 8,31,224 ESCerts (increase of 91.6% since last week).
Trading volumes have increased in recent weeks as the compliance period is coming to a close.
Total DCs registered with the registry till date is 336 and total DCs whose application is under
process for approval from registry is 38.

2. ESCert Trading Analysis Bicon Consultants
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Figure 1: Comparison of ESCert trading over the different sessions
In the 13th session of ESCerts trading, the Purchase Bid, Cleared Volume, and Sell Bid have seen a
tremendous growth compared to the earlier sessions.
Figure 2: Market value of ESCerts Trading Market
In the 13th session total transaction amount is of INR 44.98 Cr., approximately double (cumulative
transactional amount for the previous twelve session amounts to INR 24.84 Cr.)
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3. ESCert Trading Analysis Bicon Consultants
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Figure 3: Purchase Bid share of ESCerts
Sell Bid of the ESCerts increased approximately by 91% comparing with 12th session and it is the
highest bided quantity among all the session.
Figure 4: Sell Bid share of ESCerts
Total cleared Sell Bid seen a jump from 28.4% (in the 12th session) to 54.2% (in the 13th session)
out of the total ESCerts bided for sell in the respective session.
61.5%
38.5%
Purchase Bid Share of ESCerts for 13th Session
Above MCP Below MCP
54.1%
45.9%
Sell Bid Share of ESCerts for 13th Session
Below MCP Above MCP

4. ESCert Trading Analysis Bicon Consultants
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Figure 5: Comparison between percentages of Cleared Purchase & Sell Bids of ESCerts
In the ESCerts trading market, always a wide gap between Purchase Bid and Sell Bid exists but
for last two sessions the gap is reduced.
The cleared volume ESCerts has seen an exponential growth over the last few trading sessions.
There is an approximately 264% increase of cleared volume in comparison to 12th session. We
anticipate this trend to continue for the last session and expect the market to come out with
exciting figures. In total 8.65 Lakh ESCerts have been purchased till date, compared to an total
demand of about 14.23 Lakh ESCerts.
Figure 6: Cleared Volume of ESCerts for all session
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5. ESCert Trading Analysis Bicon Consultants
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Facts of ESCerts Price and ESCerts Statistics:
No of Participants for ESCerts Trading were 112 for last session which is highest among the all
session (previous session it was 85). As the compliance period is about to conclude the no. of
participants has seen a linear increase since 8th session. Lowest traded price (i.e. INR
200/ESCerts) was discovered in the 8th and 9th session. Thereafter the price has increased steadily
upto INR 1000/ESCerts (For 12th session it was INR 525/ESCerts)
Figure 7: Statistics of ESCerts Price & Participants
The price of the Energy Saving Certificates is expected to remain high as the end of the compliance
period is coming. The paradigm of the ESCerts market is shifting from the seller centric to the
buyer centric.
Recently the Central Government via S.O. 3600(E), dated 15th Nov, 2017 has further widened the
PAT scheme by including Petrochemical units having Gas Crackers or Naphtha Crackers or both
and having energy consumption of 1,00,000 metric tonne of oil equivalent per year and above as
Designated Consumer. This makes the total no. of sectors under the ambit of PAT Scheme counts
to 12. Kindly refer to our coverage on inclusion of petrochemical sector as a DC.
Bureau of Energy Efficiency in consultation with different stake holders have identified new units
for deepening of the PAT Scheme. BICON Consultants is involved in the Baseline Data Collection
and Verification Audit for PAT Scheme of the new identified industries units.
Refer our previous articles on ESCert Trading Sessions and our Advisory
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.
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