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Issuance of GOs in Finland temporarily suspended in July

Monday, 21 June 2021

*Newest update to the previously published news*

Finland has continued GO issuance

Two weeks ago Greenfact reported on the possible temporary suspension of GO issuance in Finland. According to Fingrid, the Finnish Transmission System Operator, this suspension has now been withdrawn and Finland will continue to issue GOs on the basis of the current law.

"Finextra will continue to issue guarantees of origin for electricity in accordance with the current Act and terms and conditions of service until the entry into force of the new Guarantees of Origin Act. We will provide more information on new practices later in the autumn as soon as we know more about the progress of the Act," according to Fingrid's statement.

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In a statement by Fingrid, the Finnish Transmission System Operator, the issuance of Guarantees of Origin for electricity will be temporarily suspended in July due to delays in the legislative reform process. Finextra, the issuing body of Guarantees of Origin (GOs)  in Finland, will issue guarantees of origin in July for energy generated in June as normal, in accordance with the existing terms and conditions of service. Guarantees of origin will be issued retroactively for the suspension period. 

The issuance of guarantees of origin for electricity will be suspended as of 1st July. Guarantees of origin for electricity are issued in Finland by Fingrid’s subsidiary Finextra, and the suspension of issuance is due to delays in the process to reform the legislation on guarantees of origin.

According to the press release, in Finland, the bill concerning EU member states is currently being debated in Parliament, and the date when the act will take effect is not yet known. Consultations on the decree related to the act will begin in June, and it is likely to take effect after the summer. If the legislation is delayed, so will the administrative process regarding Finextra’s terms and conditions of service. Fingrid can only submit its new terms and conditions of service for guarantees of the origin of electricity based on the new legislation to the Energy Authority for approval once the act and decree have taken effect. 

However, Fingrid reassured that "Guarantees of origin will be issued in July for energy generated in June as normal, in accordance with the existing terms and conditions of service."

The reformed EU Renewable Energy Directive (REDII) on guarantees of origin will add renewable heat and cooling, waste heat, renewable gases and nuclear power to the system for granting guarantees of origin and the certification obligation, which already covers renewable electricity.  The new requirements must be implemented in EU member states by 30 June 2021.

The draft bill provides for a transition period, which gives registered controllers until 1 November 2021 to begin complying with the obligations of the new legislation. However, the guarantees of origin generated during the suspension period, i.e. after 30 June, must be issued retroactively. 

Finland is a net exporter of GOs in the AIB. In 2020 the country exported 31.8 TWh of Guarantees of Origin a 12% per cent increase from 2019. Cancellations within the country's own domain are high and remained steady between 2019 -2020. 

Source:

Fingrid