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Guarantees of Origin: What EU energy market implications of full disclosure?
This event explored what Guarantees of Origin (GOs) and full disclosure can bring to the market and to consumer behaviour. It looked at the implications and the barriers, as well as at the longer-term perspective.
The concept of guarantees of origin is already mentioned in the first RES Directive of 2001, and has been reiterated within the framework of the 2007-09 climate and energy package (2020 targets). Objectives essentially are disclosure and transparency. Most explicit in the Renewables Directive (RED), comparable concepts appear in the Directives on CHP and energy efficiency. Many regulators and stakeholders have invested in GOs, yet there are very few stakeholders who are actively promoting ‘disclosure harmonisation’, e.g. via GOs in the 2030 Framework. While generally there is little or no opposition to GOs, equally there are no advocates. As a result, there is a risk that GOs end up as a ‘forgotten’ theme. Not only will this mean that previously invested work will be lost and therefore wasted, but also that Europe may miss an opportunity to provide for transparency and disclosure.