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Grid owner chooses electronic telebanking to track green label trade
1 May 2001
Fully electronic telebanking is the option chosen by grid owner TenneT for keeping track of green label trade once the Netherlands' new system of support for renewable energy goes live on July 1. TenneT is to administer the green certificate system. It is proposing that producers, traders and supplier all have their own accounts. Anyone with an account will be able to buy and sell certificates. As with telebanking, account owners will be able to access the system on-line and transfer certificates from one account to another. The system, which is linked to the EDINE electronic communication system currently operational in the Dutch power sector, will ensure that green power is consumed only once. Certificates will be issued in units of one, ten, 100 and 1000 MWh, and will serve as proof that the power has been generated from renewable resources. Certificates will be awarded to power producers who advise TenneT that their product qualifies as green power through a so-called green declaration. TenneT will meter the actual power supplied to the grid and issue the producer with the appropriate number of tradable certificates. Trade will take place outside the system which will only register the transfer of certificates between accounts. The registration form is currently awaiting ministerial approval and will be available from TenneT shortly. Producers can already open a subscription and traders and suppliers can register for trade through the TenneT web site.
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