An auction of certificates of origin for electricity of the mandatory procurement component (OIK) will be held today by JSC Latvenergo’s subsidiary JSC Energijas publiskais Turkotājs to reduce the costs of the mandatory procurement component (OIK), LETA informed the company.
It is planned to submit for sale electronic documents confirming the origin of electricity sold within the framework of the mandatory state procurement in the amount of 322,023 megawatt hours (MWh).
The proceeds from the sale of guarantees of origin will be used by the “Public Energy Trader” to reduce the reimbursable costs above the market price within the framework of the mandatory procurement, which is covered by all Latvian electricity end-users through the OIK.
The company stated that the proof of origin of electricity is an electronic document that proves the resources used for electricity generation and the technology of electricity generation. A guarantee of origin can be purchased separately from electricity and can be transferred from one owner to another so that the holder of the guarantee can prove the origin of the electricity.
For example, if an electricity consumer wants to document that he only consumes electricity from renewable energy or high-efficiency cogeneration, the consumer can buy electricity on the market and additionally purchase guarantees of origin, thus certifying that he consumes “green” electricity.
One guarantee of origin corresponds to 1 MWh of electricity generated and transferred to the grid and is valid until 12 months after the end of the production period.
The “public energy trader” explained that in order for a producer to obtain guarantees of origin for the electricity produced and the right to sell them, a production unit must be certified by an independent accredited auditor.
In accordance with the requirements of the Electricity Market Law, certificates of origin of electricity in Latvia from December 1, 2020 began to be issued by the Latvian transmission system operator JSC Augstsprieguma tīkls, certified by the Association of European Certificates of Origin.
According to the information “Firmas.lv”, “Energy Public Trader” in 2020 had a turnover of 1.83 million euros, the company’s profit indicators are not indicated. The company was registered in 2014 and its share capital is 40,000 euros.
The “public energy trader” performs a specific state-defined function, which includes supervision of mandatory procurement stations, sale of purchased electricity on the exchange, receipt / sale of certificates of origin, receipt of state grant to limit OIK, as well as submission to the Public Utilities Commission (PUC) component calculation.
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