May 21, 2026

by AEA in News

North Macedonia Moves Closer to European Green Electricity Certification System

North Macedonia’s National Electricity Market Operator, MEMO, has officially joined the Association of Issuing Bodies (AIB), marking an important step toward deeper integration with the European framework for guarantees of origin and cross-border renewable electricity trade.

The decision was confirmed during the General Assembly of the Association of Issuing Bodies, where MEMO became a full member of the Brussels-based European energy certification organization. The move comes as the Ministry of Energy, Mining and Mineral Resources and the Energy Community Secretariat continue efforts to advance the mutual recognition of guarantees of origin between the European Union and Energy Community countries.

Guarantees of origin are electronic certificates proving that a specific quantity of electricity has been generated from renewable energy sources. They are increasingly important for transparent energy markets, renewable energy producers, suppliers and companies seeking to demonstrate the use of green electricity in line with ESG and decarbonisation standards.

MEMO introduced its electronic registry for guarantees of origin in April last year, in cooperation with energy certificate company Grexel and in line with European Energy Certificate System rules and AIB standards. Since then, North Macedonia has issued around 500,000 guarantees of origin, with each certificate representing 1 MWh of electricity produced from renewable sources.

According to MEMO Chief Executive Officer Zoran Gjorgjievski, AIB membership enables the Macedonian guarantees of origin system to implement the procedures required for future accession to the European Energy Certificate System. This will allow the secure, transparent and internationally recognized issuance and trading of green electricity certificates.

He emphasized that further integration of North Macedonia’s electricity market with the European energy market is essential, as it creates new opportunities for renewable energy producers, suppliers and businesses while strengthening trust, competitiveness and investment attractiveness in the country’s renewable energy sector.

Denko Rafajlovski, Head of MEMO’s Renewable Energy Support Department, noted that guarantees of origin play a key role in promoting renewable energy and giving consumers greater transparency and choice over the source of the electricity they use. Through the AIB Hub, national registries are connected, enabling the efficient cross-border transfer of green certificates between countries.

MEMO became an observer member of AIB last year as a first step toward full membership. Its accession now represents a significant milestone in the development of a modern, transparent and European-aligned electricity market in North Macedonia.

Cross-border trade in guarantees of origin will become possible once national legislation and technical requirements are fully harmonized with European Union standards.

January 27, 2026

by AEA in News

Guarantees of origin: turning renewable ambition into action

Author: Naida Hausmann, Lead of the Renewable Energy Taskforce, Energy Community Secretariat

Far from being mere certificates, guarantees of origin (GOs) underpin the entire renewable energy value chain – building trust and accountability among producers, businesses and consumers. By ensuring transparent tracking of green electricity and enabling cross-border recognition, GOs can accelerate decarbonisation across the EU and the Energy Community, helping Europe achieve its climate targets. Mutual recognition between the EU and the Energy Community would open regional markets, attract investment, and give consumers and businesses a tangible role in the energy transition.

A guarantee of origin (GO) certifies that one megawatt-hour (MWh) of electricity was generated from renewable sources. It provides a transparent chain of information about where and how electricity was produced, allowing consumers and companies to claim the renewable origin of the electricity they use, even if they draw it from a mixed grid.

In the European Union, the national systems for guarantees of origin are well established. Cross-border transfer of certificates is enabled through the Association of Issuing Bodies (AIB), helping to build confidence among suppliers and buyers alike.

As part of the Energy Community regional project, nearly all issuing bodies have now established national electronic registries for issuing GOs

In the Energy Community, similar systems are advancing rapidly, laying the groundwork for a fully integrated regional market for renewable electricity. As part of the Energy Community regional project, nearly all issuing bodies have now established national electronic registries for issuing GOs.

Work is ongoing to finalise disclosure rules, with the goal of fully aligning these systems with EU legislation and requirements. Once fully aligned, these systems can enable seamless cross-border trade in renewable electricity – bringing the Energy Community a step closer to the EU’s internal energy market.

Empowering consumers and corporates

GOs transform energy consumers from passive users into active participants in the energy transition. When a household subscribes to a “100% renewable” tariff, or when a company purchases GOs to match its electricity use, it signals clear market demand for renewable generation. This demand translates into investment: it strengthens developers’ business cases, supports project financing, and helps accelerate the construction of new renewables capacity.

Moreover, when GOs are sold separately from electricity, they provide an additional revenue stream for developers, making projects more financially viable.

For corporates, GOs have become an essential tool to meet sustainability and reporting obligations and demonstrate that their electricity consumption is renewable. GOs therefore form the backbone of corporate energy procurement strategies and sustainability claims, particularly when coupled with long-term power purchase agreements (PPAs).

Naida Hausmann Guarantees of origin GOs turning renewable ambition into action features

Why mutual recognition matters

Under the EU’s Renewable Energy Directive, GOs can only be mutually recognised with third countries once a formal agreement is concluded – a requirement that carries significant implications. For the Energy Community contracting parties, such recognition would effectively link their systems with the EU market for renewable attributes, allowing renewable energy producers to access European buyers and investors.

Importantly, such recognition would also catalyse other mechanisms that drive the uptake of renewables, enabling regional PPAs, enhancing liquidity and sending stronger investment signals. For investors and utilities alike, a unified GO market reduces risk, increases price transparency and ensures that renewable attributes are valued consistently across borders.

For investors and utilities alike, a unified GO market reduces risk, increases price transparency and ensures that renewable attributes are valued consistently across borders

In the Energy Community region, where access to capital remains a barrier to the deployment of renewables, this is not a minor issue – it is a gateway to unlocking the private investment needed to meet regional and European decarbonisation goals.

The Energy Community Secretariat, together with the European Commission, has been advancing a decision for mutual recognition. Once in place, it will allow certificates issued in the Energy Community to be traded and recognised within the EU, provided they meet equivalent standards of reliability and verification.

Criteria for recognition

Beyond the technical criteria for establishing and maintaining a system of guarantees of origin by national competent authorities, including membership in the AIB, the draft decision on the mutual recognition of guarantees of origin, as presented by the European Commission, sets out additional requirements. These include criteria for the transposition and implementation of the acquis communautaire on electricity and renewable energy.

The Energy Community Secretariat is expected to support the assessment of compliance and monitor implementation. Together, these criteria aim to establish a credible and transparent framework for mutual recognition, ensuring that GOs issued across the region are reliable and can be confidently traded.

Way forward

With almost all issuing bodies in Energy Community contracting parties having operationalised electronic registries for GOs, the focus should now shift to implementing robust disclosure rules and meeting the remaining criteria for mutual recognition. Ensuring alignment with EU legislation and participating in the AIB will be essential to create a transparent and trusted system, unlocking cross-border trade, investment and market confidence in renewable electricity.

Issuing bodies in Albania, the Republic of Srpska (Bosnia and Herzegovina), Georgia, Kosovo*, North Macedonia, Montenegro, Serbia, and Ukraine have operationalised their registries. The issuing body in Moldova has signed an agreement with a service provider and is expected to operationalise its registry by the end of 2025, while the only issuing body without an electronic registry remains that of the Federation of BiH.

Conclusion

GOs translate environmental ambition into measurable progress toward decarbonisation. They give visibility to renewable electricity, credibility to corporate climate action and empower consumers with choice and the ability to participate in the clean energy transition. For the Energy Community and the European Union alike, mutual recognition of GOs would mark a practical and symbolic step toward a truly integrated European renewables market – one where clean electricity, investment and trust flow freely across borders.

By turning certificates into confidence and ambition into action, GOs can help bridge the remaining gap between policy objectives and market reality, ensuring that the path to decarbonisation is both transparent and inclusive.

December 3, 2025

by AEA in News

Kosovo* becomes full member of Association of Issuing Bodies

Kosovo* joined the Association of Issuing Bodies (AIB) as a full member at the last meeting of the organization’s general assembly. However, the Western Balkans and other Energy Community contracting parties require full alignment with the European Union’s regulations to enable cross-border trading in renewable electricity.

The Energy Regulatory Office (ERO or ZRrE) of Kosovo* said its request to become a full member of the Association of Issuing Bodies (AIB) has been approved. It is now part of the European platform for guarantees of origin, the update reads.

It increases the transparency and credibility of renewable energy certification, enabling more efficient cross-border trade and paving the way for new investments in the renewable energy sector, ERO pointed out. The membership also confirms Kosovo’s* commitment to the energy transition path and harmonization with the European Union’s acquis communautaire, according to the announcement.

ERO added that AIB approved the application at the latest meeting of its general assembly, in Lisbon, Portugal. By joining the organization, Kosovo* has adopted its European Energy Certificate System (EECS), ensuring that guarantees of origin issued in Kosovo* are recognized throughout Europe, the regulatory body stressed.

LuxDev assisted ERO in AIB bid

Chair of ERO’s Board Ymer Fejzullahu and Lindita Daija from LuxDev Kosovo, a branch of the Luxembourg Development Cooperation Agency, attended the event. The membership strengthens institutional capacities, increases transparency in renewable energy certification and positions Kosovo* as a reliable partner in the European energy market, Fejzullahu asserted. LuxDev supported the initiative.

In other news from Southeastern Europe, the National Energy Regulatory Authority (ANRE) of Romania obtained the status of an observer in AIB, both in the electricity and gas schemes. Albania and Bulgaria became members and applied to join the electricity scheme group last year, after which North Macedonia became an observer in the electricity segment.

Mutual recognition of GOs with EU possible in 2026

One guarantee of origin or GO certifies that 1 MWh was generated from renewable sources. Nearly all issuing bodies in the Western Balkans have established national electronic registries for issuing GOs.

However, cross-border trade in renewable energy will be enabled only when they become fully aligned with EU legislation and requirements.

Energy Community Secretariat Director Artur Lorkowski recently said in an interview with Balkan Green Energy News that he hoped for a decision on mutual recognition of GOs next year.

Post Views:68

* This designation is without prejudice to positions onstatus and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.

December 2, 2025

by AEA in News

Guarantees of origin: turning renewable ambition into action

Author: Naida Hausmann, Lead of the Renewable Energy Taskforce, Energy Community Secretariat

Far from being mere certificates, guarantees of origin (GOs) underpin the entire renewable energy value chain – building trust and accountability among producers, businesses and consumers. By ensuring transparent tracking of green electricity and enabling cross-border recognition, GOs can accelerate decarbonisation across the EU and the Energy Community, helping Europe achieve its climate targets. Mutual recognition between the EU and the Energy Community would open regional markets, attract investment, and give consumers and businesses a tangible role in the energy transition.

As part of the Energy Community regional project, nearly all issuing bodies have now established national electronic registries for issuing GOs

Empowering consumers and corporates

Moreover, when GOs are sold separately from electricity, they provide an additional revenue stream for developers, making projects more financially viable.

Naida Hausmann Guarantees of origin GOs turning renewable ambition into action features

Why mutual recognition matters

For investors and utilities alike, a unified GO market reduces risk, increases price transparency and ensures that renewable attributes are valued consistently across borders

Criteria for recognition

Way forward

Conclusion

Post Views:27

* This designation is without prejudice to positions onstatus and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.

December 2, 2025

by AEA in News

3rd Conference on Advancing Renewable Investments – guarantees of origin could drive Europe’s green energy integration

As CBAM nears implementation, the Ljubljana conference highlighted market tools and partnerships to accelerate clean energy integration with the European Union, the Energy Community Secretariat said. It pointed out that as more renewables capacity is connected to the grid, storage and flexibility solutions would become increasingly vital to enable the sector’s continued growth and integration.

The rollout of national electronic registries for guarantees of origin was recognized as essential to verifying the low-carbon value of regional electricity exports and advancing market-based integration with the EU.

Ministers, regulators, investors, and private sector representatives from across South East and Eastern Europe gathered in Ljubljana for the 3rd Conference on Advancing Renewable Investments, hosted by the Energy Community Secretariat and the Government of Slovenia, to boost renewable investment and advance the region’s shift toward clean, interconnected energy systems.

“Energy Community contracting parties are advancing accelerated integration with the EU’s electricity market – a process that, thanks to the Energy Community framework, with market coupling nearing completion, can be achieved even ahead of full EU membership. Expanding renewables is central to this effort, enabling countries to align with EU policy targets and speed up decarbonisation,” the update reads.

Integration with the EU’s electricity market can be achieved ahead of full membership

The results are tangible, according to the Energy Community Secretariat’s 2025 CBAM Readiness Tracker. Renewable energy excluding large hydropower has increased by more than 50% since 2020 – reaching 5.1 GW, fuelled largely by governmental support schemes.

While it is a notable success, continued progress will depend on the contracting parties’ ability to build on this momentum and mobilize efforts beyond government support to fully meet the ambitious 2030 targets set out in their national energy and climate plans (NECPs) and achieve carbon neutrality by 2050. As more renewables capacity is connected to the grid, storage and flexibility solutions will become increasingly vital to enable the sector’s continued growth and integration, the organizers said.

Uncertanties emerging ahead of CBAM charge introduction

At the same time, as the definitive phase of the EU’s Carbon Border Adjustment Mechanism (CBAM) begins on January 1, uncertainties are emerging for renewable energy investors, the secretariat stressed.

Discussions at the conference highlighted stakeholders’ expectations for the European Commission to clarify CBAM implementation rules, while continuing to rely on the secretariat to raise concerns about potential risks to renewable energy investments arising from unintended CBAM impacts.

As a no-regret pathway, participants discussed measures to accelerate the shift toward market-driven renewable investments, strengthening the sector’s credibility and long-term financial stability. A matchmaking dialogue brought together renewables producers and corporate buyers, reflecting growing private-sector interest in long-term power purchase agreements (PPAs) to boost investment and market confidence.

Lorkowski: GOs turn transparency into trust, trust into investment

Finally, the rollout of national electronic registries for guarantees of origin (GOs) was recognized as essential to verifying the low-carbon value of regional electricity exports and advancing market-based integration with the EU.

“Guarantees of origin are the compass guiding Energy Community markets toward the EU’s clean energy future. They turn transparency into trust, and trust into investment, enabling regional producers to access new markets, attract financing, and build confidence in the energy transition,” said Energy Community Secretariat Director Artur Lorkowski.

Ongoing efforts to establish a mutual recognition framework with the EU are underway, in close coordination with the European Commission and the Association of Issuing Bodies (AIB), to enable cross-border trade in renewable electricity.

Post Views:34

October 30, 2025

by AEA in News

Renewable electricity should not be subject to EU’s CO2 import tax

The European Commission is collecting evidence to come up with solutions for unintended effects of the Carbon Border Adjustment Mechanism (CBAM) on renewable electricity in the Western Balkans, Director of the Energy Community Secretariat Artur Lorkowski pointed out in an interview with Balkan Green Energy News, as one of the most important developments in the sector. Boosting renewable energy development and trade with third countries such as the Western Balkans was supposed to be accelerated by the European Union’s CO2 import tax.

To reduce the payment obligations of EU importers under CBAM, the contracting parties in the region are planning carbon pricing systems, but under different models. The ultimate goal is eventually joining the EU Emissions Trading System, implying the need for coordination and cooperation between the governments in the process, Lorkowski stressed.

Looking back twenty years since the Energy Community Treaty was signed, it proved to be a successful format of cooperation, the Energy Community Secretariat Director Artur Lorkowski said. On the occasion of the anniversary, Balkan Green Energy News sat down with the head of the international organization to speak about the achievements and benefits for the contracting parties, and the remaining milestones that the Western Balkans need to reach in order to integrate with the EU’s energy union.

“Economic growth depends on energy security and fair pricing. There is visible progress in transformation, clearly seen from the 2024 figures. And the final element is the accelerated energy market integration with the EU, and this is what we can be really proud of,” Lorkowski asserted.

Among the segments with tangible improvements, he also highlighted the convergence on the wholesale gas and electricity markets. It is facilitating competitiveness in the Energy Community, the secretariat’s chief added.

Renewables capacity doubled in four years

Fossil fuels used to account for 60% of electricity production in the contracting parties five years ago, compared to 50% now, Lorkowski noted. The significant results in renewables except for large hydro are illustrated by the fact that the overall capacity in the segment has more than doubled between 2020 and 2024, he stressed. More importantly, the carbon footprint – the CO2 emissions per unit of the nominal gross domestic product, fell 11% last year alone.

CO2 emissions per unit of the nominal GDP fell 11% last year in the Energy Community

As for EU integration, electricity market coupling is progressing very well, as a good example, in Lorkowski’s view. The legislation is mostly aligned, so most countries are just waiting for the process to be concluded, the director of the Energy Community Secretariat explained.

“There are operating wholesale markets everywhere in the Western Balkans except in Bosnia and Herzegovina, which is about to adopt the required law. Serbia is at the forefront of that process. North Macedonia and Montenegro are very close, with small elements yet to be achieved. It is a non-reversible point, point of no return on a path towards EU integration,” Lorkowski said. He recalled that when capacity calculations regions (CCRs), operationalization and verification are cleared from the to-do list, it would take 18 months to join the EU’s market coupling project.

Electricity can be exempted from CBAM at later stage

Energy Community contracting parties may become eligible for exemption until 2030 from CBAM in electricity, if they meet the CBAM requirements. However, the EU is starting to charge the CO2 import tax already on January 1.

“I wish the contracting parties followed my messages from the Belgrade Energy Forum in 2023, because you might remember me saying that CBAM is coming and we have to prepare for that. But unfortunately, we have observed a lot of delays and hiccups in the preparatory process. Fair enough, this is the reality we have to face now – no country of the Energy Community will be exempted on 1 January 2026. But we can still work to be exempted at a later stage,” Lorkowski underscored.

Artur Lorkowski was a keynote speaker at Belgrade Energy Forum 2025, organized by Balkan Green Energy News

European Commission expected to clarify rules by end of year

The second part of the story is that CBAM, in addition to its intended impacts, especially on coal power, also has unintended impacts, Lorkowski explained. For example, electricity transit between EU member states through the contracting parties, in practice, may also be subject to the tax, even if it was not intended by the European legislators.

CBAM was intended to provide equal treatment for products produced inside and outside the EU when it comes to carbon payments. “Renewable energy, not being subject to the EU ETS, would – logically – not need to be subject to CBAM, but with the current rules, even EU off-takers with cross-border power purchase agreements (PPAs) may still be subject to payment obligations, as the implementing rules remain overly complex, effectively treating them in the same way as fossil fuel importers. These are real problems that stakeholders have been raising with us in our targeted outreach to power companies, traders, and other stakeholders both from the EU and Energy Community,” Lorkowski added.

Legislative efforts to further improve trade in renewables with the EU continue under the Energy Community

The Energy Community Ministerial Council reported it in Athens to the European Commission and asked it to find a solution.

Lorkowski said he expects the EU’s top executive body to soon issue implementing and delegated acts, by the end of 2025, clarifying the CBAM implementation rules, and to follow it up in 2026 with a targeted amendment proposal on electricity.

Legislative efforts to further improve trade in renewables with the EU continue under the Energy Community. “The European Commission has presented to the contracting parties a draft decision on the mutual recognition of guarantees of origin and is now awaiting their feedback. I hope that in 2026 we can have a decision. But it does not mean that the guarantees of origin can be used as the currency for paying the CBAM fee. That would require amending the CBAM legislation,” he stated.

Carbon pricing systems need to evolve toward matching EU ETS

For a potential reduction of CBAM payments in other areas as well – iron and steel, aluminum, fertilizers, cement and hydrogen – third countries need to introduce carbon pricing systems. Serbia recently drafted legislation for a CO2 tax and for a tax on imports of carbon-intensive products. It is a good step forward, according to Lorkowski.

“We expect each and every country to make a decision on the carbon pricing. All of the countries of the Energy Community, with the exception of Kosovo*, have communicated to the secretariat which model they will implement. And the models vary: from Serbia’s carbon tax to a domestic emissions trading system of Montenegro, which is already in place,” he revealed.

There is no uniform carbon pricing model for the Energy Community

Namely, the Energy Community Ministerial Council decided not to implement a uniform regional carbon pricing mechanism but opted for individual models. They should all be built with the perspective of aligning eventually with the EU Emissions Trading System (EU ETS), Lorkowski said.

“The key challenge now for the Energy Community is how to maintain the integrity of the electricity market between the contracting parties and the European Union after CBAM enters its definitive phase from next January. We need to figure out how to coordinate among the systems. It implies not only the existence of the domestic carbon markets, but also the cooperation within the region,” he pointed out.

Ministerial Council to announce way forward on carbon pricing coordination

The Ministerial Council is due to conclude on carbon pricing at its regular annual meeting in December, Lorkowski said.

“The three critical elements are how much the CO2 will cost, who will pay – which businesses and sectors are in scope – and when those carbon pricing systems will be introduced. They need to maintain the integrity of the market, the level playing field of the market, and avoid market distortions,” the top Energy Community official added.

Practical policies more important than coal phaseout dates alone

Turning to the coal phaseout, essential for the decarbonization of the economy, Lorkowski acknowledged the significance of political declarations such as the Sofia Declaration and commitments from the national energy and climate plans (NECPs).

“That said, it is critically important to anchor the actions for the future with practical policies. The decisions on the establishment of carbon pricing mechanisms are even more important. In addition, we should focus on monitoring, reporting and verification – MRV systems. The contracting parties need to identify emitters and measure quantities,” the director of the Energy Community Secretariat underscored.

Post Views:137

* This designation is without prejudice to positions onstatus and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.

October 30, 2025

by AEA in News

Several EU member states face uncertainty amid looming Russian gas ban

The European Union’s proposed measures to phase out imports of Russian oil and gas would destroy Hungary’s security of supply, according to Minister of Foreign Affairs and Trade Péter Szijjártó, who spoke at the meeting of energy ministers in Luxembourg. Slovakia is in a similar situation, while Romania pointed to the difficulty of proving the origin of foreign gas.

The draft regulation that the Council of the EU adopted doesn’t explicitly call for a ban on the transit of gas to third countries, while it foresees a temporary suspension for member states in case of supply disruption. The proposal also allows the possibility of importing non-Russian gas through the TurkStream pipeline.

The meeting of the so-called Energy Council highlighted several issues and concerns among EU member states about the proposed ban on Russian natural gas, including liquefied natural gas (LNG). Energy ministers in the Council of the EU adopted their position ahead of negotiations with the European Parliament on measures that they plan to introduce on January 1.

There would be a transition period for existing contracts for Russian fossil gas. Short-term ones concluded before June 17 this year would remain in force until June 17, 2026. Long-term contracts may run until January 1, 2028. It is also the targeted date for ending imports of Russian oil.

Szijjártó: The remaining infrastructure, physically and capacity-wise, is not able to supply Hungary

“The real impact of this regulation is that our safe supply of energy in Hungary is gonna be killed,” the country’s Minister of Foreign Affairs and Trade Péter Szijjártó stressed at the meeting.

He clarified that he wasn’t speaking about prices, and warned of damage from the proposed regulation – in the name of diversification.

“As now we are phasing out supply routes towards Hungary, the remaining infrastructure, physically and capacity-wise, is not able to supply the country. This has nothing to do with politics. This has nothing to do with Russia. This has nothing to do with the war in Ukraine. This is mathematics and physics,” Szijjártó stressed.

He also reiterated that his country would be left dependent on one oil supply route, via Croatia. It would leave Hungary “totally defenseless to a monopoly” as the transit fee doubled since the start of the war and it is five times higher than the current European benchmark, the minister underscored.

Bulgaria asks for protection from arbitration for gas TSOs

Slovak Deputy Prime Minister and Minister of Economy Denisa Saková said the supply of gas to her country is limited. There are interconnections with all neighbors, but external capacity bottlenecks remain, she argued. Bulgaria asked for provisions protecting gas transmission system operators (TSOs) from arbitration and financial penalties.

Romania voted for the draft regulation, but warned that identifying the origin of imported gas would be difficult

Secretary of State in Romania’s Ministry of Energy Cristian Bușoi urged for a workable and harmonized verification system and for the development of clear guidelines.

“This is not a matter of energy policy, but of strategic autonomy and European solidarity. At the same time, as we move from political vision to implementation, we believe it is important that the new authorization and verification system remains practical, transparent and proportionate. The additional requirements to demonstrate the exact country of production represent a new level of responsibility that, while understandable, and we support this in principle, may be difficult to fulfill in practice, particularly for pipeline [and] natural gas traded on hubs, and shipments transport, including LNG cargos that involve multiple sources and blending,” Bușoi told the ministers.

Council of EU proposes suspension clause

Notably, the Energy Council’s position, part of the REPowerEU plan and sanctions against Russia, is that the regulation should contain a suspension clause. The European Commission could temporarily lift the ban on Russian gas and LNG in case of significant disruptions of supply.

Another important element is the possibility of importing non-Russian gas through the TurkStream pipeline if the fuel’s origin is proven.

Gas transit through EU not subject to prohibition

Energy ministers said the EU should ensure that natural gas which crosses the 27-member bloc under a transit procedure is not ultimately entering into free circulation in the union.

It would imply that Serbia, Bosnia and Herzegovina and North Macedonia, non-EU countries, could continue to buy Russian gas that is delivered through Balkan Stream. It is the extension of TurkStream running through Bulgaria and Serbia to Hungary.

“Any gas which, before its import into the EU, was exported from the Russian Federation, either via direct export from Russia to the EU or via indirect export through a third country, should, except in case of transit, be subject to the prohibition”, the document reads.

Serbia still hasn’t signed a long-term gas supply contract with the Russian side, and the previous one expired in May. Moreover, the United States have imposed sanctions on Gazprom-controlled NIS, Serbia’s national oil importer, refiner and operator of a chain of service stations.

On top of it all, hydropower output is at a record low due to chronic drought, while coal is being imported as domestic mines don’t produce enough lignite.

Post Views:103

September 1, 2025

by AEA in News

Energy Traders Europe calls for clear rules before CBAM implementation

Energy Traders Europe has sent proposals to the European Commission on how to ensure that the Carbon Border Adjustment Mechanism puts a fair price on carbon-intensive electricity imports and facilitates low-carbon flows.

On July 1, the European Commission’s Directorate-General for Taxation and Customs Union launched a public consultation on the potential downstream extension of the Carbon Border Adjustment Mechanism (CBAM), as well as additional anti-circumvention measures and rules for electricity as a CBAM good.

Energy Traders Europe participated in the call for evidence, which was open until August 26. The organization pointed out that the CBAM application to electricity imports shouldn’t start without a thorough impact assessment and a clear legislative framework.

Clarity is urgently needed for contracts for the delivery year 2026

Contracts for the delivery year 2026 are already traded on electricity markets, so clarity about how these will be treated from a customs perspective is urgently needed, the trade association stressed.

In its reaction, Energy Traders Europe argued that the inclusion of electricity imports within the scope of CBAM should respect the principle of proportionality, ensuring that European businesses face no excessive costs or administrative burdens and that a proportionate carbon price is applied.

For the calculation of the carbon price, default emission factors should reflect the actual carbon intensity of the electricity mix imported from a third country, as accurately and as close to real-time as possible.

Therefore, Energy Traders Europe insists that:

All generation technologies are taken into account to calculate the emission factor of third countries from which electricity is imported
The carbon intensity of electricity imports should be measured with an hourly granularity.

The association also proposes improvements for the utilization of the actual embedded emissions of imported electricity, to reflect the reality of electricity trading:

Power purchase agreement (PPA) – The definition should recognise PPAs concluded via intermediaries, such as when a CBAM declarant is reporting via an indirect representative, as well as both physical and virtual PPAs
Physical network congestion – Once an importer can prove the hourly matching between electricity production and capacity nomination, and that guarantees of origin (GOs) eventually issued are immediately cancelled, this criterion becomes redundant and hence should be removed
Capacity nomination and electricity production – Imports should be reported (and accounted for) based on the hourly confirmed scheduled quantities provided by the TSOs to each market participant, to be linked back to the hourly data of the generation plant underpinning the PPA.

According to Energy Traders Europe, the listed improvements are crucial to ensure that CBAM is fit for purpose for electricity imports, leading to more efficient use of cross-border interconnections between the EU and third countries, preventing renewable curtailments, and promoting the uptake of low-carbon electricity production in third countries.

Post Views:76

August 19, 2025

by AEA in News

Good start for North Macedonia: in first two months 100k+ guarantees of origin issued

North Macedonia has issued 107,666 guarantees of origin for electricity in the first two months since introducing the mechanism.

In April, the National Electricity Market Operator (MEMO) established the Register of Guarantees of Origin for electricity.

On May 26, MEMO officially issued the first renewable energy guarantees of origin to state-owned power company Elektrani na Severna Makedonija (ESM) for electricity produced from hydropower plants.

In June, 56,620 guarantees were issued for hydropower plants, followed by 51,046 for photovoltaic plants in July, according to MEMO.

Guarantees of origin have been issued for eight power plants

The company stressed an increasing number of companies are joining the Register of Guarantees of Origin, calling it a key step in building a transparent and modern energy market.

MEMO said it ensures the compliance of national regulations with European ones by maintaining a secure and standard system for the issuance, transfer, and activation of guarantees of origin.

Guarantees of origin have been issued for eight power plants: hydropower plants Kozjak and Sveta Petka and solar power plants Oslomej, Dolani Solar, EVN Solar 1, Štip Solar, Crn Kamen 1, and Crn Kamen 2.

Energy Community members are gradually introducing guarantees of origin

In April, MEMO adopted the rules for administering guarantees of origin for electricity in line with the Law on Energy, a decree that regulates the mechanism, and the standards of the Association of Issuing Bodies (AIB).

The company is responsible for establishing and managing the register, including issuing the guarantees, recording transfers, and recognizing, revoking, and canceling GOs.

The rules are also aligned with the principles of the European Energy Certificate System (EECS). The GOs system was established in cooperation with Grexel, a company specializing in energy certificates.

The cooperation with Grexel is part of the initiative to establish a regional system for guarantees of origin initiated by the Energy Community Secretariat. The goal is to develop nine registries for the contracting parties in line with the European Union’s rules: in Albania, the two entities making up Bosnia and Herzegovina (the Federation of BiH and the Republic of Srpska), Georgia, Kosovo*, North Macedonia, Moldova, Montenegro, and Ukraine.

So far, Albania, Georgia, Montenegro, North Macedonia, and the Republic of Srpska have launched their registries.

However, implementing the initiative is not sufficient for guarantees of origin to be recognized in the EU.

Post Views:186

* This designation is without prejudice to positions onstatus and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.

August 6, 2025

by AEA in News

Bulgaria’s NEK to launch offering of guarantees of origin on IBEX

State-controlled hydropower plant operator NEK said it would launch auctions for gurarantees of origin in Bulgaria, providing liquidity in the market segment. There is currently no offering scheduled on the IBEX electricity exchange.

Following the first auction for guarantees of origin (GOs) in Bulgaria last month, state-owned hydropower operator Nаtsionalna elektricheska kompania (NEK) is preparing its first offering. The company said it would ensure liquidity in the segment.

NEK is one of the 12 participants in the market, operated by the Independent Bulgarian Energy Exchange (IBEX). The utility said it is the leader in guarantees of origin and the production of electricity from renewable sources. It is part of Bulgarian Energy Holding (BEH).

The company operates 31 hydropower and pumped storage hydropower plants, of 2.74 GW in total capacity. All guarantees of origin owned by NEK will be offered on the platform through auctions for the sale of guarantees of origin, starting this month, according to the update. However, there are no auctions in IBEX’s schedule.

A small wind power plant broke the ice in Bulgaria by selling 2,475 guarantees of origin last month. Each represents 1 MWh. The exchange established the platform four months earlier.

NEK revealed that it would start to sell GOs before the end of the month

Electricity consumers buy guarantees of origin from producers to verify that they used renewable energy.

IBEX, solely owned by the Bulgarian Stock Exchange (BSE) and the Sustainable Energy Development Agency (SEDA) of Bulgaria are authorized to jointly operate the organized market. The legal framework envisages issuing GOs monthly, quarterly and semianually.

When SEDA achieves integration with the European guarantees of origin system, the participants in the Bulgarian platform will be able to trade abroad as well.

IBEX, founded in 2014, operates day-ahead and intraday markets and a mechanism for bilateral contracts.

Neighboring Greece introduced GOs in June of last year. Also of note, Greece and Bulgaria recently enabled bilateral trade in balancing energy within the Platform for the International Coordination of Automated Frequency Restoration and Stable System Operation (PICASSO).

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