How are Green Electricity Certificates (GECs) accounted for and managed?Green Electricity Certificates are maintained in electronic format as a ‘virtual’ stock of kilowatt-hour (kWh) units. When the City buys green electricity from the Darling Wind Farm (DWF), the equivalent quantity of units of Green Electricity Certificates are created and added to the virtual stock record; when it sells Green Electricity Certificates, the equivalent quantity of units of Green Electricity certificates are ‘withdrawn’ or issued from the virtual stock record.
How can the rights to the benefits of the ‘greenness’ of renewable energy be sold separately to the energy itself? Green electricity can be considered to comprise two components – the energy itself and the ‘green benefits’ associated with the electricity.
The ‘green attributes’ or benefits are an intangible asset that can be owned, stored and sold separately to the energy, which is immediately consumed.
What proof will I have that I have bought Green Electricity Certificates?
A ‘Green Certificate Purchase Statement’ will be posted to you.
What is the date of delivery of Green Electricity Certificates?
The date of transfer of the rights to the benefits of the renewable electricity represented by the Green Electricity Certificates will occur on issue by the City of the written receipt for payment in full for the certificates.
Can Green Electricity Certificates be traded?
The City’s Green Electricity Certificates will not be tradeable until a nationally recognised tradeable electricity certificate system is established and subscribed to by the City. Customers will not initially be able to sell, negotiate or transfer their rights to the Green Electricity Certificates they have bought.
Additional information: