Grexel, part of EEX Group, has been appointed by the Energy Community to establish an electronic system for Guarantees of Origin (GOs) in Albania, Bosnia and Herzegovina, Georgia, Kosovo, North Macedonia, Moldova, Montenegro and Ukraine. The Energy Community is an international organisation which brings together the European Union and its neighbours to create an integrated pan-European energy market.
Guarantees of Origin are a tracking instrument that enables confirmation of the origin of electricity, thereby determining the quantity stemming from renewable production within the total of electricity that flows through the grid. This makes them an indispensable tool to promote the production and consumption of green electricity, by ensuring its traceability which enables further investment into renewables.
The main objective of the project, funded by the Energy Community, is to extend the EU GOs rules and principles to 8 new countries with a solution, allowing for managing issuance, transfer and cancellation of Guarantees of Origin regionally. The solution designed by Grexel will then enable each country to have its own national registry while allowing them to transfer GOs regionally and potentially Europe-wide and internationally in the future.
Markus Klimscheffskij, Grexel CEO, comments “Over the course of our 20-year history, Grexel has helped numerous countries to set up energy certification and reliable disclosure. We’re proud to see our handprint all over Europe in enabling consumer-driven energy transition towards clean solutions. With our unique skillset we are not only providing the core technology, but will surely help the Energy Community countries in their path towards reliable electricity certification and disclosure as well as joining the common European market for Guarantees of Origin.”
The Energy Community Secretariat’s Director, Artur Lorkowski, adds: “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 implementation of the GO registries will comply with the European Union standards as well as with both the Directive on the promotion of the use of energy from Renewable Energy Sources (RES) and Directive on Renewable Energy (RED II).
“Over the past years, EEX Group has continued to shape the European GOs’ landscape, and is very enthusiastic to help further develop the GO system in the Energy Community countries. In 2020, the EEX CEGH Gas Exchange Services joined the SEEGAS initiative, which aims to develop an integrated gas market in the South East European and East European region. I am looking forward to this next chapter, working closer with the Energy Community to bring our expertise in building successful and interconnected energy markets regionally” says Aude Filippi, Director of Business Development for Gas and Sustainability markets at EEX.
The main objective of the Energy Community is to extend the EU internal energy market rules and principles to countries in South East Europe, the Black Sea region and beyond on the basis of a legally binding framework. The project kicked off in January 2022 and will end in June 2022 with the go-live of the registries.
Grexel is the leading energy certificate registry provider in Europe headquartered in Helsinki with an annual transaction volume of over one billion MWhs. The registries are used by over ten thousand active account holders in 15 countries. As part of EEX Group, Grexel also helps its customers to design new certification schemes and cope with changing requirements set by international legislation and standards.
The European Energy Exchange (EEX) is the leading energy exchange which builds secure, successful and sustainable commodity markets worldwide – together with its customers. As part of EEX Group, a group of companies serving international commodity markets, it offers contracts on Power, Natural Gas and Emission Allowances as well as Freight and Agricultural Products. EEX also provides registry services as well as auctions for Guarantees of Origin, on behalf of the French State.
More information: www.eex.com
CONTACT
GREXEL
T +358 44 550 7001
Laura.Malinen@grexel.com
EEX
T +49 341 2156-216 | +33 1 73 03 76 52
presse@eex.com | www.eex.com