Great news for the market of Guarantees of Origin (GOs) came at the end of September: The European Federation of Energy Traders have finalised in cooperation with active utilities and RECS International an update of the Standard Renewable Energy Certificates Master Agreement that will include GOs for electricity, biogas and hydrogen. In its press release EFET highlights that the Master Agreement is now ready for RED II (Renewable Energy Directive II).
EFET Frame Agreement
The EFET frame agreement has already been the base of negotiations for power and gas companies during the last two decades and is used by over five hundred companies across the continent. In 2019, EFET added an appendix about the electric GOs, in consequence of the fast-growing market during the recent years. By adding now Biogas and Hydrogen, EFET is this time making a step ahead. These last two fuels are still in their infancy, with small volumes traded in comparison with other energy commodities and EACs (Energy Attributes Certificates).
This update is welcomed with enthusiasm as Commerg’s CreditMatix application is designed to handle EFET agreement signatories. Their engagements translate in practice in enabling counterparts or disabling the trade with them, according to their risk manager. The CreditMatrix is the single tool in the Guarantees of Origin market which supports this process for all active participants.
For more information about the usage of the Credit Matrix, please get in touch: firstname.lastname@example.org.