In order to further play the role of green certificate in building a green low-carbon environmental value system of renewable energy and electricity, promoting the development and utilization of renewable energy, and guiding the green consumption of the whole society, since 2022, the State Energy Administration, together with the National Development and Reform Commission and the Ministry of Finance, has conducted in-depth research and listened extensively to various parties. The revised Notice further clarifies the authority, uniqueness and universality of green certificates, achieves full coverage of the issuance of green certificates for renewable energy, and puts forward specific requirements for standardizing the issuance of green certificates, improving the trading of green certificates, doing a good job in the application of green certificates, encouraging the consumption of green electricity, and strengthening the supervision of green certificates. The issuance and implementation of the
Notice will effectively promote the issuance of green certificates and the full coverage of transactions, further lay the foundation for expanding the supply of green electricity and promoting the consumption of green electricity, effectively enhance the authority and uniqueness of green certificates, and further enhance the credibility of green electricity consumption; It will effectively expand the application of green certificates, expand the consumption demand of green certificates, and further stimulate the vitality of the green electricity consumption market, which is of great practical significance for promoting the green and low-carbon transformation of energy, creating a green consumption environment, accelerating the formation of green production mode and lifestyle, and promoting the overall green and low-carbon development of the economy and society.
Ask: What arrangements have been made in the Notice to enhance the authority, uniqueness and universality of green certificates? To this end, the Notice specifies the following requirements. In terms of
authority, it is clear that the National Energy Administration is responsible for the management of green certificates, and further enhance the authority of green certificates by coordinating all aspects to form a joint force, so as to promote green certificates to play a greater role in leading green power consumption, promoting the development of renewable energy and achieving the goal of double carbon. In terms of
uniqueness, it is clear that the green certificate is the only proof of the environmental attributes of renewable energy power in China, and also the only proof of the production and consumption of renewable energy power. In order to ensure the uniqueness of the green certificate, it is clear that the corresponding electricity quantity of the green certificate shall not be repeatedly applied for other certificates of the same attribute in the field of electric power. In terms of
universality, we should clarify the basic role of green certificates in supporting green power trading, identifying green power consumption and calculating renewable energy power consumption, and promote the connection between green certificates and domestic carbon market, international green consumption and carbon emission reduction system.
Ask: What specific provisions have been made in the Notice to regulate the issuance of green certificates?
One is to expand the scope of green certificate issuance. The scope of green certificate issuance will be extended from onshore wind power and centralized photovoltaic power generation projects to all renewable energy power generation projects that have been filed and licensed, so as to achieve full coverage of green certificate issuance.
The second is to put forward specific requirements for different categories. For renewable energy power generation projects such as wind power, solar power generation, biomass power generation and geothermal power generation, tradable green certificates can be issued. Tradable green certificates can be used as renewable energy power consumption certificates, and can also be transferred between power generation enterprises and users by participating in green certificate trading and green power trading. For conventional hydropower projects in stock, the tradable green certificate will not be issued at this stage, and the corresponding green certificate will be directly transferred free of charge with the electricity transaction; for the new market-oriented conventional hydropower projects put into operation after January 1, 2023 (inclusive), the tradable green certificate will be issued. The scope of issuance of tradable green certificates can be adjusted dynamically according to the production and consumption of renewable energy power.
The third is to clarify the source of issuing information. In principle, the issuance of green certificates is based on the data provided by power grid enterprises and power trading institutions, and checked by the data provided by power generation enterprises or project owners. In the case that power grid enterprises and power trading institutions, such as self-use, are unable to provide electricity information, the corresponding power generation enterprises or project owners shall provide the information required for the issuance of green certificates.
In addition, considering that the accurate measurement of non-electric utilization of renewable energy is not yet available at this stage, the full coverage of green certificate issuance is only for renewable energy power generation projects. When the relevant conditions are ripe, the non-electric utilization of renewable energy will be included in the green certificate system in due course.
Ask: What specific arrangements have been made in the Notice to improve green certificate trading?
One is to expand the green certificate trading platform. The green certificate trading platform will be expanded from the previous China Green Power Certificate Trading Platform to Beijing Electric Power Trading Center and Guangzhou Electric Power Trading Center, and then to other trading platforms recognized by the state in due course. Buyers and sellers can freely choose any green certificate trading platform to carry out green certificate trading.
The second is to clarify the way of green certificate trading. Green certificate transaction includes bilateral negotiation, listing and centralized bidding. For bilateral negotiation transaction, the buyer and seller independently negotiate the quantity and price of green certificate transaction, and sign a one-time transfer agreement to complete the green certificate delivery through the green certificate trading platform; For listing transaction, the seller lists the quantity and price of green certificates on the green certificate trading platform, and the buyer completes the green certificate transaction by delisting; for centralized bidding transaction, the buyer and seller declare the transaction intention information before the deadline through the green certificate trading platform, and determine the quantity and price of green certificates by market clearing.
The third is to clarify the ownership of green certificate income. On the one hand, for projects that no longer enjoy central financial subsidies (including parity (low price) projects, voluntary abandonment of central financial subsidies, expired projects of central financial subsidies and fully market-oriented conventional hydropower projects newly put into operation on or after January 1, 2023), the green certificate income belongs to the power generation enterprises or project owners, and the transaction mode is not limited. On the other hand, for the projects that enjoy the central financial subsidy, according to the relevant provisions of the state, if they belong to the state guaranteed acquisition, the green certificate income will offset the central financial subsidy or belong to the state; if they belong to the market-oriented transaction, the green certificate income will be deducted by the central financial subsidy. At the same time, we should create conditions for projects that enjoy subsidies from the central government to adopt centralized bidding as soon as possible.
In addition, in order to prevent speculation on green certificates, the Notice makes it clear that green certificates can only be traded once at this stage, and that after the completion of the transaction, the trading platforms need to synchronize the relevant information to the issuing agencies in real time.
Ask: According to the Notice, how to apply the green certificate? In order to enhance the universality of green certificates, the Notice provides strong support for the high-quality development of the green certificate market by further expanding the application scenarios of green certificates.
One is to support green power trading . Green power transaction is a medium and long-term power transaction with green power products as the subject matter. Users can obtain green power and green certificate synchronously. It is a special green certificate transaction form of "integration of certificate and electricity", which reflects the value of green environment through the price of green certificate specified in the transaction contract. If a power trading institution participates in the green power transaction, the corresponding green certificate shall be pushed to the power trading institution in batches by the issuing institution, and the transaction volume and price of the green certificate and the physical electricity quantity shall be clearly defined in the transaction contract.
The second is to account for renewable energy consumption . To give full play to the role of green certificate traceability, tamper-proof and accurate identification of renewable energy power consumption, and to implement the requirement that renewable energy consumption should not be included in the "double control" of energy consumption, the Notice clearly States that the data of renewable energy power consumption in the whole country and regions should be approved by the National Bureau of Statistics in conjunction with the National Energy Administration.
Third, certification of green power consumption. In order to better play the role of green certificate in evaluation and certification and promote the construction of a scientific and flexible green power consumption system, the Notice clearly regards green certificate as the sole certificate for the certification of green power consumption and green power attribute identification of power users, and calls for the establishment of green power consumption certification standards, systems and identification based on green certificate. To provide a basis for legal compliance to carry out green power consumption certification. At the same time, with reference to the international practice, the certification authority shall carry out the certification through the green certificate corresponding to the electricity produced within two years. In order to avoid using the same green certificate for multiple certifications, the certification authority is required to synchronize the certification information to the issuing authority in a timely manner.
The four is to link up the carbon market . Green certificate and carbon emissions trading are major institutional innovations to promote green development by market-oriented means, and it is of great significance to do a good job of linking up the two. The Notice clearly studies and promotes the coordination of green certificates with the national carbon emission trading mechanism and the voluntary greenhouse gas emission reduction trading mechanism, so as to create conditions for the subsequent promotion of the incorporation of green certificates into the relevant accounting system of the carbon market.
The five is to promote international mutual recognition of green certificates. At present, domestic green certificates have been included in the recognition scope of the International Green Electricity Consumption Initiative (100% Renewable Electricity, RE100), and their influence in the international community and multinational enterprises has been expanding. In order to further enhance the international influence and recognition of domestic green certificates, the Notice clearly States that renewable energy in China can only apply for domestic green certificates in principle, and actively promote the convergence of green consumption and carbon emission reduction systems of international organizations with domestic green certificates without affecting the realization of the goal of national independent contribution. We will strengthen the research and formulation of international standards for green certificate issuance, measurement and trading, and enhance the international recognition and influence of green certificates.
Ask: How to expand the demand for green electricity consumption? To this end, the Notice has a special chapter to put forward clear requirements for promoting green power consumption. First, multinational corporations and their industrial chain enterprises, export-oriented enterprises and leading enterprises in the industry are encouraged to purchase green certificates and use green electricity to play a leading role in demonstration. The second is to promote central enterprises, local state-owned enterprises, organs and institutions to play a leading role and steadily increase the proportion of green electricity consumption. Thirdly, we should strengthen the responsibility of high energy-consuming enterprises for green electricity consumption and improve the level of green electricity consumption as required. The four is to support the high proportion of green power consumption in key enterprises, parks and cities. At the same time, we will also urge all localities to decompose the weight of responsibility for renewable energy power consumption into energy-using units, promote the use of green certificates to calculate the consumption of renewable energy power by users, and gradually establish a "weight + green certificate" restraint mechanism to better stimulate the vitality of the green power consumption market.
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