Review of the tariff of guarantees of origin (GO)

Increased transparency on the tariff regarding, issue, import/export and cancelation of GO´s

Guarantees of Origin (GOs) have been issued in Iceland since 2012 and increased interest has resulted in the issuance of GOs nearly all production from certified power stations in Iceland. Cancelation of GO´s in Iceland has been increasing in recent years, which confirms the use of renewable energy. The reason for this increase may be that the GO´s are getting a more positive review and their sales value has been increasing  

All Icelandic power stations that are connected to the transmission grid are certified. Some of the smaller power stations (<10 MW) that are connected to the distribution system are also certified. There has also been an interest from owners of small power stations to get their energy certified.

The previous tariff had remained unchanged since the issue of GO´s started in 2012, but customers have called for a review of the tariff due to changes within the market 

A review was subsequently launched to assess cost, transparency, competition between domestic and foreign issue and domestic cancelation.

The goal of the changes in the tariff are:

  • Easier access for smaller power stations (<10 MW) with regards to certification
  • Promoting fair competition between domestic and foreign issue and domestic cancelation
  • To reflect the cost of Landsnet with the issue of GO´s on behalf of AIB and Grexel. AIB is the association of issuing bodies in Europe and Grexel supervises the software that Landsnet uses to issue GO´s.
  • Increased transparency

The new tariff for GO´s took effect on the 1st of April 2019, when a new issuing period began.

The tariff can be seen below:

*GO´s that are canceled in Iceland because of foreign use (EX-domain) have an expiry fee of 1,6 ISK/MWh.

Time Schedule

Review and analysis [2018]

Disclosure to customers and connected parties regarding changes [beginning of 2019]

New tariff was published on April 1st 2019

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