Nordic green power certificates
Sweden and Norway have agreed to establish a common market for green electricity certificates.
Green certificates ensure that the electricity is produced from renewable energy sources.
The Swedish Minister for Enterprise and Energy and the Norwegian Minister of Petroleum and Energy have agreed to resurrect a plan for a Nordic green certificate. The goal is to start selling common green certificates from 2012 onwards.
A tradeable green certificate market model was introduced in Sweden in 2003. The scheme promotes green energy by offering producers of electricity from renewable sources a green certificate for every MWh of electricity produced, which they can sell for extra income. The new Nordic scheme does not discriminate between different renewable technologies, and it will be compatible with the Swedish model.
The Swedish government will increase the renewable energy production within its green certificate scheme to 25 TWh by 2020. Norway has adopted a stance to match Sweden's ambitions on promoting renewables.
In addition to strengthening cooperation to combat climate change, the undertaking will help both countries improve their security of energy supply.
Further reading:
Nordic green power certificate becomes reality
Green certificates
Green certificates are issued to producers of new renewable electricity. These certificates are then sold to consumers, who will be required to make sure that a certain percent of the electricity they buy is green electricity. This market will function alongside an emissions trading market.
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