Transactions of electricity GOs

Electricity EECS GOs

Issuance of GO

GOs are primarily issued once a month for the production period of the calendar month in question. GOs can be issued in periods of 3 or 6 months instead of 1 – this choice can be made separately for each power plant at the time of registration. The account holder commits to following the selected issuance period for one calendar year. The account holder can also suspend the issuing of guarantees of origin for a desired period, but GOs cannot be issued retroactively for the period of suspension. 

GOs for multifuel power plants can only be issued after the account holder has entered the monthly fuel distribution of the power plant directly into the GO register.

In conjunction with issuing GOs, Fingrid also grants the EKOenergy additional product symbol of the Finnish Association for Nature Conservation to those power plants that are entitled to it.

Transfer of GO

GOs may be transferred from one account holder to another within the Finnish GO register, and GOs can also be imported/exported between other AIB (Association of IssuingBodies) member registers via the Hub administered by the AIB.

Cancellation of GO

An issued GO is used by cancelling it, after which it cannot be used again. Cancellation is proof that the electricity has been produced using renewable energy sources.

Account holders make the required number of cancellations of GOs in the electronic register.

A GO which is used to verify information given to users of electricity in year x should be cancelled by 31 March in year x+1.

Regional electricity GOs

Issuance of GO 

GOs are issued based on the CEN 16325+A1 standard in force.

GOs are primarily issued once a month for the production period of the calendar month in question. GOs can be issued in periods of 3 or 6 months instead of 1 – this choice can be made separately for each power plant at the time of registration.

The account holder commits to following the selected issuance period for one calendar year.

Before GOs can be issued to multi-fuel plants, the account holder must provide the plant’s monthly fuel distribution in the agreed Excel file format via encrypted email to Finextra.

GOs are issued for full megawatt hours. The number of GOs issued to a specific power plant each month constitutes one issuance bundle.

Transfer of GO

GOs issued in Finland may be transferred or cancelled to registrars of other EU and EEA countries provided that the counterparty accepts Fingrid’s deliveries (file via encrypted email).

Transfer from Finland takes place so that Finextra delivers the transfer or cancellation statement via encrypted email to the registrar of another EU or EEA country. Only full issuance bundles can be included in the transfer from Finland. Similarly, Finextra receives the information of GOs to be transferred or cancelled to Finland from other EU or EEA countries via encrypted email and forwards this, again via encrypted email, to the account holder to whom the transfer or cancellation is addressed.

Cancellation of GO

An issued GO is used by cancelling it, after which it cannot be used again. Cancellation is proof that the electricity has been produced using renewable energy sources. The account holder submits the required cancellation information to Finextra. Finextra performs the cancellation and delivers the cancellation statement to the account holder via encrypted email. Finextra reports the cancellation statements made to the Energy Authority.

GOs issued regionally must be cancelled as full issuance bundles. Plant-specific GOs issued on a one-month basis cannot be split into several different cancellations. Several full issuance bundles can be included in a single cancellation.

A GO which is used to verify information given to users of electricity in year x should be cancelled by 31 March in year x+1.