The International REC Standard, together with SP Group, are organizing a one-day forum about the International REC Standard, the associated market and national regulations and best practices in Singapore.

In recent years blockchain technologies have endeavoured to establish a role in the tracking of energy attributes, either alongside or in competition with established systems. Whether blockchains enhance or negatively impact existing tracking system remains to be seen. RECS International has created a position paper which analyses the capability for blockchains to enhance attribute tracking and drive it to new heights, or whether their promise will fade as market players continue to rely on the proven success of established systems.

EFET is redrafting the EFET EECS Master Agreement (MA). RECS International has been requested to review the draft. A comment provided by RECS International is to open the contract up to different certificate types/standards such as I-RECs, ROCs, Elcerts, as opposed to maintinaing an EECS only MA.

As the recast Renewable Energy Directive (EU/2018/2001) has extended the use of guarantees of origin to include renewable gas, it is important that market players and policy makers are well informed about the implications for markets and regulations. 

Following the emergence of legal issues surrounding the potential for VAT fraud linked to the trade in GOs and the possible categorisation of GOs as financial instruments, the RECS International board has decided to reconvene the Legal Working Group as a matter of urgency.

A revised version of the 2018 European Residual Mix is now available on the website of the Association of Issuing Bodies (AIB). 

Earlier this year Germany introduced a national certificate scheme for trading renewable energy attributes. RECS International has created a paper to provide an analysis of the German GO market, including a description of this new regional concept and of RECS International’s view on this change. 

The RECS International Annual Report 2018 is now available at www.recs.org. 

The UK government has introduced legislation, in the form of a statutory instrument, to introduce a reverse charge accounting mechanism (‘domestic reverse charge’) for supplies of gas and electricity certificates in the UK.