Renewed interest

Green certificate trading is growing in Europe, as renewable power generators seek to exploit consumer demand for green energy. But market design could be improved, as Oliver Holtaway reports

The market for renewable energy certificates in Europe is young but promising. Despite being a voluntary market with only 16 member states actively involved, there are over 140 counterparties trading green certificates. Some 66 million certificates (each representing one megawatt-hour of renewables-sourced power) were issued in 2006, a number that is expected to rise to 100 million for 2007. Of these, 25 million are expected to be traded internationally between the 16 participating member states