CROPEX to organize auctions of guarantees of origin

Croatian power exchange CROPEX will organize auctions of guarantees of origin through the IT auction trading platform, CROPEX said in a press release.

The first two auctions will be held on August 29 and 30. CROPEX will organize the auctions to sell guarantees of origin for wind generation in the production period Q1 and Q2 2019.

The conditions for auctions organized by CROPEX were met when the Croatian energy market operator (HROTE) successfully implemented market-based sales of electricity generated by producers eligible to receive incentives.

HROTE, as leader of the ECO Balance Group for incentivized electricity production, started selling 30% of the energy produced on CROPEX markets at the beginning of 2019

In accordance with the law on renewable energy sources and high-efficiency cogeneration, HROTE, as leader of the ECO Balance Group for incentivized electricity production, at the beginning of 2019 started selling 30% of the energy produced on the CROPEX day-ahead and intraday markets, the Croatian power exchange said.

This move is also enabled by changes to the law on renewable energy sources and high-efficiency cogeneration and changes to the decree on the establishment of a system of guarantees of origin.

For the part of the energy produced by incentivized producers that is sold by ECO Balance Group on the market, HROTE will issue guarantees of origin

According to the agreement between HROTE and CROPEX, guarantees of origin will be sold by CROPEX, using a specially developed IT auction trading platform. For the part of the energy produced by incentivized producers that is sold by ECO Balance Group on the market, HROTE will issue guarantees of origin that will be sold in auctions.

After the auction is successfully completed, the raised funds will be transferred to the incentivized system fund. The guarantees of origin sold in the same auctions will be transferred from HROTE’s account in the guarantees of origin register to the auction participants’ user accounts.

Auction participants are obliged to sign with CROPEX an agreement on participation in a guarantees of origin auction, according to the Rules for Auctions of Guarantees of Origin.