Wednesday, October 5, 2022

HomeTradingHungarian Guarantees of Origin enter the international market

Hungarian Guarantees of Origin enter the international market

As of 1 February, the Hungarian Energy and Public Utility Regulatory Authority (MEKH) has joined the European Energy Certificate System (EECS), which means that the Hungarian guarantees of origin (GOs) may enter the international market, as announced by Péter János Horváth, MEKH’s President.

The accession of MEKH was approved by the Association of Issuing Bodies (AIB), the international organisation representing the European authorities responsible for issuing GOs, of which the Hungarian regulatory authority has been a member since 2021.

GO is a marketable electronic document that has the sole function of providing proof to a final customer that a given share or quantity of energy was produced from renewable sources or from high-efficiency cogeneration. GOs are used in the European Union member states and in other European countries for proving the origin of the used electricity.

Mr Horváth noted that the authority has been operating the registry required for issuing the GOs since 2014.

“The EECS membership does not only mean the recognition of our experts’ work, but also the entering of the Hungarian GOs into the international markets,” he said.

By the registration of the membership, GOs related to production following 1 February 2022 will qualify as EECS GOs, accepted on the international markets. The international trade of the GOs is facilitated by the Hub operated by AIB, establishing electronic communication among the registries of the member states. Trading via the Hub is expected to commence on 1 March 2022.

Sign up to our biweekly newsletter


    Most Popular