vgbe energy journal 10 (2022) - International Journal for Generation and Storage of Electricity and Heat

Power News
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Power
News
Eurelectric: 24/7 Carbon-free
energy matching: shaping the
future of corporate energy
procurement
(eurelectric) The EU power sector has a key
role to play to end Europe’s addiction to imported
fossil fuels. It is this dependence that
triggered the current energy crisis and because
of it many households and businesses
across Europe are now experiencing unprecedented
pressure.
Energy savings, as shown in eurelectric´s
Power Barometer, are necessary to alleviate
the pressure and ensure supply security in
the short term. In the long-term however,
the only structural solution to future energy
crunches is to massively decarbonise our
energy system through clean and renewable
electrification.
One of the key drivers is corporate renewable
energy sourcing. More businesses are
now pledging to match their energy use with
100% renewable-based electricity. As a result,
the EU renewable share of electricity
consumption has steadily increased to reach
45% in 2020 compared to 22% in 2015.
The companies, however, are matching
their energy demand with renewable supply
on an annual basis, and the majority using
green tariffs or unbundled Guarantees of
Origin. This does not necessarily drive new
build renewable energy projects and maximise
decarbonisation.
A more ambitious corporate energy procurement
is to guarantee carbon-free energy
matching every hour of every day everywhere.
This is how the 24/7 energy matching
journey started. This approach aims at
complementing the 100% RES annual
matching by moving a step further.
Carbon-free energy demand and supply
can now be matched on an hourly or
sub-hourly basis, thanks to granular certificates
validated by timely meter and grid
data. Such granularity can increase the
transparency and clarity of energy procurement
as well as buyers’ confidence. Moreover,
24/7 creates a clear price signal for renewables
build-up and incentivises storage
development, flexibility, and innovation.
The good news is that several companies
have already embarked on this journey.
Google is leading the way, as explained by
Caroline Golin - Global Head, Energy Market
Development and Policy:
“If our goal is to actually drive decarbonisation
and if we truly believe that the grid is
the innovation space where we grow technologies
that will eventually get our entire
economy off fossil fuels, then we really need
to dig into the grid and figure out how we
can drive the most impact”.
It is this common goal that inspired Eurelectric
and its partners to launch the European
24/7 energy matching Hub, a platform
where energy buyers, suppliers, and policy
makers can meet to know more about 24/7,
receive technical training, and guidance in
its implementation.
If more and more energy users step up
their commitment to 24/7 energy matching,
the decarbonisation of the grid would accelerate.
Carbon-free grids are indeed the
linchpin for healthier carbon-neutral societies.
Yet, barriers to unleash its full potential
remain. Complexity, low awareness, and
lack of data access are some of the key challenges
to scale up this innovative procurement
approach. The most urgent, however,
is the need for a common regulatory framework.
The European Parliament’s has recently
approved the 45% renewable target increase
by 2030 and member states’ ability to issue
granular certificates, as a building block of
24/7. This is a promising start but in MEP
Morten Helveg Petersen words: “If we want
to drag the market [towards 24/7 energy
matching] then the framework has to be
common.”
It is now crucial that policymakers make
“24/7” the new framework for carbon-free
energy matching and shape the future of
electricity sourcing across Europe and beyond.
Allowing granular certificates, harmonised
standards, and a system of recognition
for businesses determined to take their energy
procurement to the next level are urgent
enablers.
Eurelectric and its partners have already
begun this challenging yet promising journey
towards 24/7, will you join us for the
ride? The first 24/7 Hub and Academy meeting
will take place on Friday 7 October at the
Re-Source event in Amsterdam.
More information on the European 24/7
Hub: 247.eurelectric.org
LL
www.eurelectric.org (223321923)
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