EEX Unviels French Biogas Guarantees of Origin Auctions in December

The European Energy Exchange (EEX) is set to launch quarterly auctions for biogas Guarantees of Origin (GOs) on behalf of the French Ministry of Energy, beginning on December 4, 2024. These auctions will allow the French government to sell GOs that are generated by selected biogas facilities benefiting from a state support mechanism. This initiative enhances EEX’s existing services, as the exchange has been providing registry services for biogas GOs in France since October 2023. Additionally, EEX has operated a similar auction system for French power Guarantees of Origin since 2019, underscoring its expertise and experience in the field.

Peter Reitz, CEO of EEX, expressed his excitement about the upcoming auctions, highlighting the importance of the initiative in advancing Europe’s energy transition. He stated, “It is an exciting time for us to launch one of the first cleared European biogas GOs auctions. Reliable GOs mechanisms are essential for the success of the energy transition and decarbonization efforts, and biogas is growing in importance as an energy source. We are proud to be closely working with the French Ministry of Energy on such an important matter again.”

Guarantees of Origin schemes are essential tools in driving the integration of renewable energy into the market, promoting transparency, and fostering trust. These mechanisms enable the accurate tracking of renewable energy sources, whether they involve electricity, biogas, or hydrogen, within the European Union. GOs provide assurance to companies and consumers that the energy they use comes from renewable sources. The associated registry services create a standardized and transparent system that complies with European legislation, aiding businesses in their decarbonization efforts. By offering such standardized certification, GOs contribute to the broader goals of reducing carbon emissions and supporting sustainable energy initiatives across Europe.

Alongside the auctions, European Commodity Clearing (ECC) will handle the related clearing services, ensuring a secure and efficient operation of the GO mechanism. ECC’s involvement guarantees the safety and reliability of the entire process, further bolstering market confidence in the auction system.

EEX plays a critical role in global energy markets, working to create secure, efficient, and sustainable commodity trading environments. As part of the broader EEX Group, which serves international commodity markets, the exchange offers a diverse range of contracts, including those for power, natural gas, emission allowances, freight, and agricultural products. In addition to its auction services, EEX also provides registry services for Guarantees of Origin, working closely with the French government in support of renewable energy development.

Through its initiatives, EEX continues to be a driving force in Europe’s energy transition. By facilitating transparent and reliable tracking of renewable energy sources, it actively promotes decarbonization across multiple sectors, reinforcing its commitment to sustainable growth and a greener future.