Businesses and consumers are becoming more picky about the origin of their electricity supply, motivated by a growing sense of urgency to act on climate change. European utilities have noted a strong rise in demand for green electricity – that is, electricity from renewable sources. An important part of the response has been the use of Guarantees of Origin (GOs) – tradable tags that certify the provenance of power supply, down to quite specific details of the generation technology involved and the geographic location. So how do GOs work and how significant is the trend? Let’s take a closer look… What is “green demand” and who is driving it? Businesses are a key source of demand, driven by Corporate Social Responsibility (CSR) principles, as they seek to show customers and investors they are taking climate change and environmental impacts seriously. Local councils and government departments are also paying attention to the source of their electricity supply, to meet green targets. Perhaps even more important has been the trend of consumers opting in or changing their power tariffs to so-called “green tariffs” – enabled by widespread liberalization in Europe’s retail electricity markets. Several new entrants have capitalized on this demand, branding… continue reading
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Source: CTRM Center