Grexel, part of EEX Group, collaborates with Granular Energy, to conduct a pilot project to assess thefeasibility and potential mechanism of granular Guarantees of Origin (GOs). In particular, the project will lookat the possibility of allowing the issuance of hourly certificates, in comparison to the current market standard of monthly GO issuance.
The pilot is already underway and taking place on the Irish Power market, in collaboration with selected utilities and Granular Energy, a software provider that specialises in clean energy management solutions.
The pilot is part of a larger project, where Grexel has been selected following a Request for Proposals process for the Registry Acceleration Fund, an initiative by LevelTen Energy with support and funding from the Granular Certificate Trading Alliance. In this project, Grexel will develop the capability of its platform G-REX to handle granular certificates as well as align with the Energy Tag standard. “We’re excited to take part in this pilot project,” says Markus Klimscheffskij, CEO of Grexel. “Granularity has been discussed in the market for some time now and it’s important for us as registry provider to understand how it can evolve further.
Aude Filippi, EEX Director Business Development Gas and Sustainability markets, comments: “Granularity is an aspect to consider for the future development of registry services, and this pilot allows us to examine the feasibility and potential of such an approach at the early stages. While this is an exciting first step, we still have a long way to go.
We're glad to see strong market interest, with some of the largest Irish energy suppliers taking part in this pilot,” says Bruno Menu, Granular Energy cofounder and COO. “This pilot gave us the opportunity to test Grexel’s approach of introducing optional hourly GOs alongside monthly ones within their G-REX platform. In the context of GOs, granularity refers to the level of detail and timely precision in tracking and certifying energy attributes, most commonly at an hourly level. This concept affects how GOs are issued, traded, and redeemed, influencing transparency and market efficiency.
Grexel provides the IT services for the Irish GO registry to SEMO, the Irish Energy Market Operator.
The European Energy Exchange (EEX) is a leading energy exchange which builds secure, successful and sustainable commodity markets worldwide – together with its customers and partners. As part of EEX Group, it serves international power, natural gas, environmental, freight and agricultural markets, and provides data, reporting and registry services. EEX is an enabler of the energy transition and decarbonisation, advancing renewables integration through dedicated products and services, including those related to guarantees of origin.
Grexel is the leading provider of energy certificates in Europe, headquartered in Helsinki and with an annual transaction volume of over one billion MWh. Its registries are used by more than ten thousand active account holders. As part of EEX Group, Grexel offers platforms for Guarantee of Origin registries in 23 countries, including power, biomethane, heat/cold, and hydrogen.
