Guarantee of Origin of electricity
The Guarantee of Origin (GoO) of electricity is a certificate guaranteeing that the electricity is generated from renewable energy sources.
In Finland, Guarantees of Origin are granted by Finland’s transmission system operator Fingrid.
Renewable energy sources include:
Solar power
Solar power is renewable energy generated with photovoltaic cells or solar thermal collectors.
Wind power
Wind energy is energy generated from wind. It is converted from wind kinetic energy into electricity with the help of the rotating blades of wind turbines.
Water power
Electricity generated from water power is renewable and low-emission. Hydroelectric power plants generate energy by running water through a turbine.
Pricing and subscriptions
The price of renewable energy for the different methods of generation is determined on the market in the exact same way as the price of electricity itself. The Guarantee of Origin market spans the EU. For example, the price of water energy was once at the level of approximately €0.3/MWh, but it rose to well over €2/MWh in 2018 and is now slightly less than €1/MWh for 2019. The price is always determined at the moment when the customer subscribes to renewable energy.
Renewable energy must always be subscribed to no later than in February following the year of delivery, so that we have time to purchase and amortise the Guarantees of Origin purchased for our customers. However, we recommend taking action in good time when the market price level looks reasonable. In addition to the current year, Guarantees of Origin can be purchased for the next four years.
