Finnish Heating and Cooling Guarantees of Origin will be managed in G-REX
Grexel’s new registry solution G-REX will be used to manage Finnish heating and cooling guarantees of origin (GOs) from 1.4.2022. This makes Finland one of the first countries to track the origin of heating and cooling in Europe. The registry will be operated by the Finnish Energy Authority.
The Finnish Guarantees of Origin for heating and cooling as well as biogas and hydrogen will be hosted in G-REX from the beginning of April.
“G-REX, has been designed for efficient management of certificates from all energy carriers. It is naturally very exciting to have first row seats to the extension of the Guarantee of Origin system in Finland.”, says Markus Klimscheffskij, the CEO of Grexel.
The system was delivered with a tight schedule. The whole project timeline was less than three months from contract award to go-live. The system will nevertheless go live on the initially planned deadline.
“We had a strict 3-month timeline for the execution of the registry solution for the Guarantees of Origin. Although we normally do a lot of development also in-house, it was clear we needed a flexible partner with a high level of expertise for this project”, says Maiju Seppälä, the leading expert at the Finnish Energy Agency.
“Grexel has not disappointed us here. They have been a flexible and active partner with strong experience from the field. This has made co-operation easy. As the market for Guarantees of Origin for heating and cooling is still emerging, a fluid start of operations is very important to us”, Seppälä continues.
Heating accounts for a large proportion of Finnish energy consumption. For instance mere space heating amounted for 26% of the Finnish final energy consumption in 2020 . Both Seppälä and Klimscheffskij are looking forward to the increased transparency the new registry will bring to the field.
“From the beginning of July the marketing of renewable heating and cooling and waste heat and cold becomes regulated. This will clarify the situation for the consumers and allows comparison between heating and cooling products”, says Seppälä.
“This also enables consumers to make educated choices on the origin of their heating and cooling energy”, Klimscheffskij elaborates.
Grexel is the leading energy certificate registry provider in Europe headquartered in Helsinki with an annual transaction volume of over one billion MWhs. The registries are used by over ten thousand active account holders in 15 countries. As part of EEX Group, Grexel also helps its customers to design new certification schemes and cope with changing requirements set by international legislation and standards.
The Finnish Energy Authority regulates and promotes operation of the electricity and gas markets, emission reductions, energy efficiency and the use of renewable energy. Learn more about the Finnish Energy Authority here.
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