The Ministry of Trade, Industry and Energy announced on the 1st that it will open a new and renewable energy supply certificate (REC) trading market where general companies such as RE100 (renewable energy 100%) participating companies can purchase renewable energy, and operate it in earnest from the 2nd.
The REC trading market is operated by the over-the-counter transaction method, which registers and settles in the system after the contract is concluded between the parties to the transaction, and the platform transaction method, which registers and sells properties on the platform.
RECs can be purchased at any time without complicated procedures, and the purchased RECs can also be recognized as a result of GHG reduction, so the participation of companies is expected to be high.
In addition, the Ministry of Trade, Industry and Energy expected that the demand for RECs would expand, contributing to stabilization of REC supply and demand.
An official from the Ministry of Trade, Industry and Energy said, “In addition to the green premium and third-party power purchase agreements (PPAs) that are already in operation, the REC purchase method has been added to provide a system that enables companies to more diversify their renewable energy procurement methods and more easily be recognized for using renewable energy. “he explained.
He continued, “We plan to introduce a direct PPA method this year to support domestic companies’ participation in RE100 and ESG (environmental, social, and governance) activities.”
Direct PPA is a method in which a renewable energy electricity supplier directly supplies electricity produced using renewable energy to electricity users without going through the electricity market.
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