UEB launches electronic auctions for trading in guarantees of origin

Ukrainian Energy Exchange LLC announces the opening of a new section for organizing and conducting electronic auctions for the purchase and sale of guarantees of origin of electricity generated from renewable sources. This was reported by the UEB, reports ExPro Consulting.

Auctions will be held in the Software Product “Exchange Electronic Trading System” (PE BETS) in the “Electric Power” version in the form of a unilateral counter-auction.

Registered users of the register of guarantees of origin who have received the status of seller and/or buyer after registering on the UEB can participate in the auctions. Initiators can place orders for purchase or sale, adding draft contracts to their positions.

At the auction, positions of guarantees of origin can be formed with the definition of the type of renewable energy source used in the process of generating electricity, the period of generating electricity, and the period of commissioning of the generating unit. Auctions can be held both for increasing and decreasing prices.

“The introduction of trade in guarantees of origin is an important element of supporting the development of the renewable energy market in Ukraine. This allows market participants to confirm the origin of electricity during its production and consumption. The exchange will provide transparency, market pricing and a convenient service for buying and selling guarantees of origin for market participants. The new tool will be especially useful for companies that generate ESG reporting and seek to reduce their environmental footprint, as well as for electricity suppliers that will offer “green” products to retail customers,” commented Oleksandr Kovalenko, CEO of UEB.

Recall that on October 3, during the closed Energy Club meeting dedicated to the topic “Guarantees of origin: what opportunities does the new instrument open up for the market and consumers”, Igor Bogachev, Head of Strategy and Development Department of LLC “UEB”, made a report on the prospects of the guarantees of origin market in Ukraine.