The Energy Community Secretariat is creating an integrated electronic system for guarantees of origin, which are designed to enable customers to buy electricity from renewable sources.
The contracting parties of the Energy Community may soon get a regional electronic system for the management of issuance, transfer and cancellation of guarantees of origin or GOs in line with the European Union’s rules and principles. The organization’s secretariat said it launched the project for the establishment of the tool for Albania, Bosnia and Herzegovina, Georgia, Kosovo*, North Macedonia, Moldova, Montenegro and Ukraine.
Serbia’s issuer, transmission system operator Elektromreža Srbije (EMS), joined the European AIB Hub platform in 2020. The integrated regional system will enable each contracting party to have its own national register, while being able to trade GOs regionally, the secretariat added.
The system will enable each contracting party to have its own national register, while being able to trade GOs regionally
GOs are electronic documents proving to final consumers that a specific quantity of electricity was produced from renewable energy sources.
“Guarantees of origin can be a real game changer by driving new renewables investment. On top of that, it will give the contracting parties a head start in implementing the Renewable Energy Directive, one of the key elements of the newly adopted Clean Energy Package,” the Energy Community Secretariat’s Director Artur Lorkowski said.
Following a public tender procedure in 2021, Grexel Ltd, part of EEX Group, was selected to support the project’s implementation.
The contracting parties of the Energy Community are lagging behind in fulfilling the obligation to establish an electronic system for GOs
Guarantees of origin could serve as an important tool to boost renewables investment and drive the energy transition. The contracting parties of the Energy Community are lagging behind in fulfilling the obligation to establish an electronic system.
The primary goal of renewable energy certification is to enable disclosure, revealing the origin of energy sold to final consumers, and give consumers the option to choose their energy according to its origin. It also gives end-users the possibility to legitimately claim their energy is coming from renewables such as wind, solar and geothermal power plants.
Once the electricity provider has fed the power into the grid, the GO received for the amount of electricity can be sold on the open market as an energy commodity.