Shell Energy Europe joins GO auctions of CROPEX

"Today, Shell Energy is one of the largest traders in Europe and has built substantial gas and power portfolios," the power exchange said in a press release on May 3.

There are currently 48 participants in the auctions of guarantees of origin of CROPEX, according to the exchange's website.

Implemented in 2003, the renewable energy guarantee of origin (REGOs) electronic certificate system enables producers of renewable-sourced electricity that is eligible under the EU Renewables directive to be issued with evidence that their electricity is indeed renewable, according to the International Energy Agency.

The GOs are internationally tradable. They have a standardized size of 1 MWh and a duration of one year after issuing. The purchase of guarantees of origin further stimulates introduction of renewable energy sources in Croatia, the Croatian transmission system operator, HOPS, said on its website.