SPIMEX plans to start training trades in green certificates of origin for electricity as of 2025 - senior manager

SOCHI. Oct 4 (Interfax) - The St. Petersburg International Mercantile Exchange (SPIMEX) plans to start training trades in green certificates of origin for electricity as of 2025, Sergei Trofimenko , Managing Director for Gas and Electricity Markets at the exchange, said during the Priorities of the Electric Power Market in Russia conference organized by Market Council.

"We have now proposed a model on which we will train. We will begin training in trading green certificates as of the first of the year," Trofimenko said.

Trofimenko said that the SPIMEX has prepared five agreements with various suppliers of generation attributes on the possibility of trading green certificates on the exchange. A trading strategy is under development as part of the agreements.

"Having consulted with the participants, we decided to launch trading in physically settled futures accounting for the trading strategies that have already been developed. However, the project has required an amendment to the legislation, which we are currently doing," Trofimenko said.

A full-fledged system for handling generation attributes and certificates of origin for electricity has officially been in operation in Russia since February 1, 2024. The system permits officially confirming that the purchased electricity has been produced utilizing a specific low-carbon facility, as well as separately or jointly purchasing green certificates for the electricity.

As of early October 2024, 171 generating facilities with overall capacity of 28.8 GW were registered in the system, the bulk of which is hydroelectric power plants at 23.4 GW, according to the Market Council's presentation.