By successful implementation of market-based sales of incentivised electricity production from HROTE side, auctions of Guarantees of Origin will be organised through the IT auction trading platform by CROPEX.
In accordance with the Law on Renewable Energy Sources and Highly Effective Cogeneration, CROATIAN ENERGY MARKET OPERATOR d.o.o. (HROTE), as a leader of the ECO Balance Group for the incentivised electricity production, beginning of 2019 started to sell 30% of the energy produced on CROPEX Day-Ahead and Intraday markets. By switching to the market-based sales of electricity by HROTE, the possibility of establishing a system for the sales of Guarantees of Origin was opened, precisely for the electricity produced by the incentivized producers and sold on the CROPEX markets by HROTE. Above mentioned is formally enabled by the Law on Amendments to the Law on Renewable Energy Sources and Highly Effective Cogeneration and the Decree on Amendments to the Decree on the Establishment of a System of Guarantees of Origin.
According to the agreement between HROTE and CROPEX, Guarantees of Origin will be sold on Guarantees of Origin Auctions that will be organised by CROPEX, using specially developed IT auction trading platform.
For the part of the energy produced by incentivised producers that is sold by ECO Balance Group on market, HROTE shell issue Guarantees of Origin that will be sold on Guarantees of Origin Auctions. After auction is successfully complete, raised funds from the auctions shell be transferred to the incentivised system fund, while Guarantees of Origin that are sold on the same auctions shall be transferred from HROTE’s account in the Guarantees of Origin Register to the auction participant’s user accounts.
Auction participants are obliged to sign with CROPEX Participation Agreement in Guarantees of Origin Auction according to the Rules for Auction of Guarantees of Origin.
Rules for Auction of Guarantees of Origin can be downloaded:
https://www.cropex.hr/images/Rules_for_Auction_of_Guarantees_of_Origin_01_10_2019.pdf
Participation Agreement in Guarantees of Origin Auction can be downloaded:
https://www.cropex.hr/images/2019_07_25_Agreement_CROPEX-Auction_Participant_INOZEMNI_ENG.pdf
Application for the participation on GOs auctions and Instructions for use of the Auction System shell be published on CROPEX’s Web pages later on.