Swedish Minister for Enterprise and Energy Maud Olofsson and Norwegian Minister of Petroleum and Energy Terje Riis-Johansen signed an agreement in Stockholm to resurrect an old plan for a Nordic green certificate. The goal is to start selling common green certificates from 2012 onwards, they said in a common statement.
The idea was buried back in 2006 when Norway rejected the scheme, citing high costs to consumers and industries. Instead, it went on to promote renewables and energy efficiency via its state energy fund.
Sweden, on the other hand, continued with its tradable green certificate market model introduced in 2003. The scheme promotes green energy by offering producers of electricity from renewable sources a green certificate for every MWh of electricity produced, which they can sell for extra income.
The new scheme would not discriminate between different renewable technologies, the ministers emphasised. Moreover, it would be compatible with the Swedish model.
The Swedish government announced earlier this year that the target for renewable energy production within its green certificate scheme would be increased to 25 TWh by 2020. Norway has adopted a stance to match Sweden's ambitions on promoting renewables, starting with the launch of the common market, the statement reads.
"We have a common responsibility for climate and for the development of renewable energy. A common electricity certificate system is a step in the right direction," said Sweden's Olofsson.
In addition to strengthening cooperation to combat climate change, the undertaking would help both countries improve their security of energy supply.
The ministers acknowleded that large investments in renewable energy would require a comprehensive expansion of the Nordic grids. Olofsson said that a self-evident part of the scheme would be to implement the interconnections agreed within the framework of Nordic cooperation.
Sweden has thrown its weight behind speeding up electricity and gas interconnections in the region. It plans to use its six-month EU presidency to drive the implementation of the Baltic Energy Market, which includes a number of electricity infrastructure projects between Nordic countries (EurActiv 22/06/09).
