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Green energy certificates market

The green energy markets are characterised by a certificate market where the electricity produced from renewable energy sources is traded separately from the physical production under the form of a certificate.

Voluntary markets

The Voluntary markets (or green power markets) are driven by consumer preference, who can choose what type of electricity they want to buy from the grid. The markets are characterised by a voluntary demand of green certificates from market operators buying for voluntary reasons and mainly for disclosure purposes.

European renewable source electricity directive

The Directive 2001/77/EC that entered into force in 2001 set the basis for the concept of guarantee of origins. This directive required each member state to implement an electronic database for the issuing, transfer and cancellation of guarantee of origin. The 2001/77 Directive has been amended and replaced by the 2009/28 Directive, where the electricity mix to the final customer must be disclosed through the guarantees of origin system.

Guarantee of Origins

Guarantee of origins allows the tracking of the electricity produced from renewable energy sources such as hydro, wind, solar and biomass, which bring an environmental added value to the energy mix. The certificates can be traded separately from the underlying commodity (electricity).

This means that municipalities and large consumers can purchase green certificates independently from the physical electricity and thus “green up” their electricity mix.

Currently guarantee of origins are an important element in the trade of renewable electricity. They provide customers with transparency in green energy offerings and disclosure.

Mandatory markets

Together with the voluntary markets and the disclosure system, each member state is allowed to support the development of renewable power through the mandatory markets, which are characterised by national mandatory schemes and feed-in tariff schemes.

National mandatory schemes

Quota system

A quota obligation system defines a national support scheme based on a market model. Those systems can be characterised by fiscal exemptions or quota obligations schemes where certificates are traded in order to obtain the fiscal exemption or to full fill the quota obligation. In most countries with a compliance market, the obligation is imposed on the electricity supplier or electricity producers and importers.

Feed-in tariff scheme

A feed-in tariff scheme is a policy mechanism designed to accelerate investment in renewable energy technologies and based on financial support for renewable energy production. The feed-in tariff is usually implemented through:

  • grid access guarantee
  • long-term purchase contracts for the electricity produced (at a fixed price level)
  • purchase prices based on the production costs for each technology

Technologies such as wind power, for instance, are awarded a lower per-kWh price, while technologies such as solar PV and tidal power are offered a higher price, reflecting higher costs. Those feed-in tariff are backed by governmental agreements or governmental support.

 

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Guarantee of Origin

The only precisely defined instruments evidencing the origin of electricity generated from renewable energy sources, in the meaning of Directive 2009/28/EC.
Nvalue RES certificates offer

European directives

Renewable energy sources 
Directive 2009/28/EC
Directive 2001/77

Electricity market
Directive 2003/54/EC

Greenhouse gas emission
Directive 2003/87/EC

Energy efficiency
Directive 2006/32/EC

 
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