Trading tags guaranteeing renewable or low-carbon properties could be a key way to secure the EU gas industry’s long-term future in a decarbonized energy system. The EU will soon consider enshrining a 2050 net-zero emissions goal into law, after the European Commission’s president-elect, Ursula von der Leyen, promised to propose this by early 2020. A net-zero commitment is a step up from the current EU goal to cut emissions by at least 80% on 1990 levels. Von der Leyen promised to focus on decarbonizing energy demand from transport and buildings – both sectors where renewable and decarbonized gases could contribute to emission cuts. Setting up an EU-wide guarantees of origin (GO) system for such gases would be an efficient way to promote them, according to energy traders and gas industry representatives. GOs are tradeable electronic documents already used in the EU’s electricity market to prove that a specific amount of electricity comes from a specific renewable energy or cogeneration source. This is a small but growing market, with almost 510 TWh demand in 2018, according to ECOHZ. Go deeper: As demand for ‘green’ power soars, utilities turn to Guarantees of Origin GOs enable customers to choose their preferred electricity source,… continue reading
Continue reading Insight from Brussels: EU gas sector pins hopes on ‘green tags’ to face low-carbon future. This article appeared first on CTRM Center.
Source: CTRM Center