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| Guarantees of Origin | |
|---|---|
| Name | Guarantees of Origin |
| Type | Energy certification |
| Established | 2000s |
| Purpose | Track renewable electricity attributes |
| Region | International |
Guarantees of Origin
Guarantees of Origin are tradable electronic certificates used to track the attributes of electricity generation from specific sources, linking production sites with consumers and markets. They interact with regulatory frameworks and market mechanisms across the European Union, Norway, United Kingdom, Switzerland, Iceland, United States, Canada, Australia, New Zealand, Japan, South Korea, and other jurisdictions to provide evidence for claims about renewable generation. The system connects producers, suppliers, traders, and auditors including institutions like ENTSO-E, AIB (Association of Issuing Bodies), RECS International, EEX Group, Nord Pool, and Ofgem.
Guarantees of Origin function as instruments that certify the source, production time, and fuel type of electricity from facilities such as Gerdau, Iberdrola plants, Vattenfall wind parks, Orsted offshore farms, EDF hydro stations, Enel solar arrays, Siemens Gamesa turbines, and GE Renewable Energy units. They enable corporations like Google, Microsoft, Amazon (company), and Apple Inc. to substantiate Science Based Targets initiative reporting and align with frameworks like RE100, CDP (Carbon Disclosure Project), Task Force on Climate-related Financial Disclosures, ISO 14001, and Greenhouse Gas Protocol. Issued by designated bodies such as TenneT, Elia (TSO), Red Eléctrica de España, RTE (Réseau de Transport d'Électricité), and Red Electrica, certificates support compliance with directives such as Directive 2009/28/EC, European Green Deal, and voluntary markets influenced by exchanges like ICE, NASDAQ OMX, and CME Group.
Legal recognition of these certificates derives from instruments including Directive 2009/28/EC, Directive 2018/2001, national laws in Germany, France, Spain, Italy, Sweden, Denmark, Norway, Netherlands, Belgium, and regulatory decisions by authorities like ACER, ENTSO-E, Ofgem, Bundesnetzagentur, and Commission de Régulation de l'Énergie. Standards bodies such as ISO, IEC, IEEE, and voluntary schemes including Green-e, EKOenergy, Energy Attribute Certificates Association and I-REC (International Renewable Energy Certificate) Standard set interoperability rules. Certification practices reference registries maintained by AIB members including Statnett, Fingrid, Litgrid, PSE (Polskie Sieci Elektroenergetyczne), and HOPS with oversight akin to European Court of Auditors review and influence from World Bank energy programs.
Issuance begins at generation facilities registered by issuing bodies such as TenneT TSO NL B.V., CREG (Belgium), CER (Ireland), CNMC (Spain), or private registry operators like NORDPOOL AS and EEX GmbH, capturing meter data from providers like Schneider Electric, Siemens, ABB, Landis+Gyr, and Itron. Certificates record attributes used by auditors including KPMG, PwC, Deloitte, and EY for consumer claims by firms like Unilever, Procter & Gamble, Nestlé, Siemens AG, and BMW. Transactions occur via registries, brokers such as Amalta, EcoAct, RECS International members, and platforms like Powernext, European Energy Exchange, and bilateral contracts under oversight resembling European Commission state aid rules or Competition and Markets Authority guidance.
Markets facilitate spot, forward, and structured trades across exchanges and OTC desks operated by EEX Group, NASDAQ, ICE, CME Group, Energy Trade Platform, and brokers like EDF Trading, Shell Energy, TotalEnergies Trading, and BP trading. Liquidity and pricing are influenced by demand from corporate buyers in RE100, government procurement from entities like European Commission, City of London, State of California, and by renewable support schemes such as feed-in tariffs in Germany, contracts for difference in United Kingdom, and auctions modelled on IRENA recommendations. Financial participants include Goldman Sachs, Morgan Stanley, JP Morgan Chase, and asset managers like BlackRock and Vanguard engaging in risk management and hedging.
Certificates underpin compliance with targets set by European Parliament, European Council, United Nations Framework Convention on Climate Change, Paris Agreement, and national plans filed to International Energy Agency and IRENA. They enable reporting under GHG Protocol Scope 2 Guidance, corporate commitments via RE100, and integration into national Renewable Energy Action Plans of countries like Germany, Spain, Italy, France, Netherlands, Sweden, Denmark, Poland, Portugal, Greece, Ireland, Finland, Austria, Czech Republic, Slovakia, Hungary, Romania, Bulgaria, Lithuania, Latvia, and Estonia. Public procurement programs in cities such as Stockholm, Copenhagen, Oslo, Amsterdam, Berlin, Paris, London, and New York City use certificates to source renewable electricity.
Critiques come from NGOs and institutions including Friends of the Earth, Greenpeace, WWF, Carbon Market Watch, Centre for European Policy Studies, and academics at University of Oxford, Imperial College London, MIT, Stanford University, Harvard University, TU Delft, Technical University of Munich, ETH Zurich, and Politecnico di Milano arguing over additionality, double counting, and temporal and locational mismatch. Cases of alleged malpractice investigated by regulators like ACER and national authorities mirror concerns addressed by Europol and national prosecutors; auditors including KPMG and PwC assess compliance risks. Limitations contrast with alternative instruments such as power purchase agreements, carbon offsets like those under Clean Development Mechanism, and standards like Gold Standard and Verified Carbon Standard.
European implementation coordinated by the Association of Issuing Bodies and registries in Germany (Bundesnetzagentur), France (RTE), Spain (CNMC), Italy (GSE), Norway (Statnett), Sweden (Vattenfall Svenska AB), Denmark (Energinet), and Netherlands (TenneT) contrasts with schemes such as I-REC in India, Brazil, South Africa, and Mexico and voluntary programs in United States states like California (GEMI), New York, and Texas (ERCOT). Prominent corporate offtakers include Google LLC, Facebook (Meta Platforms), Amazon.com, Inc., Microsoft Corporation, Apple Inc., IKEA, Walmart, Siemens AG, and BMW Group who purchase certificates to meet targets. Interactions with grid operators such as PJM Interconnection, CAISO, ERCOT, ENTSO-E members, and national ministries like Ministry of Energy (Chile), Ministry of Power (India), U.S. Department of Energy, Japan METI, and Australian Department of Industry, Science and Resources illustrate diverse approaches.
Category:Energy certification