New provisions set basis for trading of guarantees of origin
(Article by Dr. Maria Ioannou, Senior Associate, published in the Energy & Natural Resources Newsletter of the ILO on September 12, 2022)
On 4 July 2022, a newly passed law was enacted that amends the legal framework on guarantees of origin (GOs) that was previously
envisaged in Law 3468/2006. Pursuant to the new law, GOs will certify to consumers that part of the energy they are supplied with is
sourced from renewable energy plants or heat and power cogeneration (or even other types of energy sources, such as energy storage
plants, following the subsequent issuance of the executing ministerial decision).
GO holders
According to the ministerial decision, the following persons or entities may hold a GO through an account held with the GOs register:
- power suppliers;
- auto producers;
- producers as regards exclusively their facilities;
- the Greek Operator of Renewable Energy Sources and Guarantees of Origin (DAPEEP); and
- respective holders from other EU member states or third countries under certain conditions.
According to the new law, each GO corresponds to one megawatt of standardised power (one GO per megawatt). No more than one GO
shall be issued for each megawatt produced. Therefore, even if power is sourced from cogeneration with the use of renewables, a single
GO will be issued.
Issuance and recognition of GOs
Pursuant to the provisions of the ministerial decision, the issuing authority for GOs will be DAPEEP. The European Committee for
Standardization (CEN) standard CEN-EN 16325, as well as the ministerial decision, are to be observed for the issuance, transfer and
revocation of GOs.
For renewable energy or cogeneration plants that commenced operation earlier than 1 January 2021, GOs are issued in the name of
DAPEEP.
An exception to this, however, is that GOs are issued in the name of the producer for:
- large hydroelectric plants;
- plants that have solely received or are receiving investment aid;
- plants that have not received or are not receiving operational aid; or
- plants for which the operational aid agreement has expired.
Further, GOs are issued in the name of the producer for renewable energy or cogeneration plants that commenced operation from 1
January 2021 that:
- have received or are receiving operational aid, for the period following the expiration of the operational aid agreement; or
- have not received or are not receiving operational aid or have received solely investment aid.
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