New GO rules 'threat' to green power investment

A fledgling market for the advance sale of clean electricity and long-term investment prospects for the renewable power sector are under threat from a proposal to stop issuing guarantees of origin (GOs) to generators supported by public funds, an alliance of multinational firms has warned.

A group of more than 50 firms, including major corporates such as IKEA, Amazon, Unilever and Facebook, wrote to European energy ministers on Tuesday arguing that GOs are an integral part of corporate renewable power purchase agreements (PPAs), allowing buyers to credibly trace where their electricity comes from.