Without the details being known yet, we can anticipate that the amendments proposed by the Parliament Committee will have to keep the best of both worlds.

On one hand, Member States will be able to decide to import or export Guarantees of Origin. The opportunity to voluntarily 'opt-in' to a trade scheme should appease the opponents of trade, while countries that really demand the possibility for trade should get the right guidance for it. According to several lawyers, the legal quality of an opt-in system would be much better than an opt-out system.

On the other hand, the use of GoOs for the voluntary market is most likely to be conserved. The Commission's proposal didn't have anything to offer to the voluntary market after 2010. However,  by splitting the function of GoOs – both for the voluntary market for green energy and for the mandatory market counting towards a country's target – this voluntary market can grow further.

How the technical splitting should be established is not yet clear, other details still have to be filled in. Now it will become interesting to know the reaction of the Commission and the Council. In the end, all three parties will have to agree unanimously. The progress that has already been made on the issue of green energy trade paves the ground for a quick final decision, maybe this year, or in spring 2009 at the latest.

Rolf de Vos
Editor in chief
GreenPrices
r.devos@greenprices.com