Russia Ministry of Energy: The Ministry of Energy finalized the draft law on “green” certificates

The Ministry of Energy has added the concept of generation attributes to the bill on low-carbon certificates, the corresponding document will be posted on the federal portal of draft regulatory legal acts.

A low-carbon (“green”) certificate is an electronic document issued upon the fact of electricity production at facilities with a low carbon footprint (SPP, WPP, HPP, NPP). It will be the right, but not the responsibility, of the power plant owners to receive it. The Ministry of Energy has developed a draft law on the circulation of such certificates.

“The revised version of the document introduces the concept of generation attributes. These are the positive effects on the environment and human health that come from producing electricity from low-carbon sources. According to the bill, they will become an object of civil rights, with the help of which it is possible to “monetize” positive effects. The Ministry of Energy is counting on the adoption of changes related to the launch of the green certificate system next year,” said Pavel Snikkars.

Generation attributes can be used in determining the amount of greenhouse gas emissions or in the distribution of advertising and information materials regarding compliance with ESG (socially responsible corporate governance) standards.

The presence of generation attributes can be confirmed in various ways, including international and Russian “green” certificates, as well as through bilateral contracts for the sale of electricity.

At the same time, information about the attributes of generation and about the documents confirming them must be entered in a publicly accessible unified register, which will be maintained by the organization of the commercial infrastructure of the wholesale market.

The bill also provides for detailed regulation of relations related to the issuance and circulation of Russian low-carbon certificates.