Longyuan Power Completes Its First Green Electricity Certificates Transaction

from:China Energy Investment Corporationdate:2022-06-15

Longyuan Power Carbon Asset Management Company, affiliated to China Energy, completed its first domestic Green Electricity Certificate (GEC) transaction on June 2. A total of 40,000 flat-rate GECs of Longyuan Power’s Jilin branch were traded through the China Green Electricity Certificate Subscription and Trading Platform, equivalent to 40 million kWh of electricity, which significantly increased the company’s overall revenue.

China’s GEC is an electronic certificate issued to power generation enterprises for each megawatt-hour of non-water renewable energy feed-in tariff, with unique identification code. It is the only credential for consuming green electricity.

Leveraging its advantages in new energy resource development, the company made active attempts to coordinate the relationship among GECs, green power, and carbon assets trading, made forays into the market, cautiously explored GEC trading, and eventually concluded the deal through the renewable energy information platform and the GEC subscription platform. This move created a new profit model that integrates power trading with GEC income.

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