According to Mediafax “Romania stands to lose hundreds of millions of euro following a pending suspension from trading Green Certificates” This looks be another blow in the face of investors in renewable energy that already have been waiting for years due to the misunderstandings of the Romanian Authorities regarding how to implement a new law when being part if the European Union. We reported about this in the past. But in fact this alleged suspension has nothing to do with the Green Certificates that the producers of renewable energy receive.
The Green Certificates Mediafax is talking about are the EUA’s, the Carbon Credit Allowances that are assigned to Romania and controlled by the UNFCCC.
Romania risks to lose hundreds of millions of euros following a pending suspension of the country from trading green certificates, since irregularities were found in the national inventory of carbon emissions, press agency Mediafax reports. The final decision will be announced Monday after the meeting of the Compliance Committee of the Kyoto Protocol in Bonn today. The cause of imminent suspension of Romania is “public distrust in the ability of Romanian authorities to manage the problems estimating emissions of greenhouse gases nationally,” an export told Mediafax. Romania has not managed to sell such certificates since 2008.
Confusing though is that both the EUA’s and the production certificates for renewable energy are called Green Certificates.
The first are sold on the international markets the second only can be sold in Romania to (large) consumers and distributors. Also the prices are different: the EUA’s are currently sold at EURO while the Romanian Green Certificates are sold at 55 EURO.
So the good news for investors is that this has nothing to do with the payment scheme for renewables that was recently approved by the European Commission.