Clean Energy Certificates market grew significantly in 2022, with 2023 auctions on an exciting trajectory as more entities aim to meet their sustainability goals
EWEC (Emirates Water and Electricity Company), a leading company in the integrated coordination of planning, purchasing and supply of water and electricity across the UAE, today announced it will conduct the Q1 auction for Clean Energy Certificates (CECs) in Abu Dhabi, with registration now open and the auction closing on 14 March 2023.
The CECs scheme is a strategic initiative introduced by the Abu Dhabi Department of Energy (DoE) that enables Abu Dhabi based companies to validate their clean energy consumption claims and support the UAE’s transition towards a sustainable, decarbonised economy. Furthermore, CECs offer participating companies a competitive advantage by holding internationally recognised certificates that certify their green credentials.
Francois Brice, Commercial Executive Director at EWEC, said: “Following the record results achieved in our Q4 2022 auction, where we sold over 9 million CECs to numerous Abu Dhabi based entities, EWEC is proud to be at the forefront of supporting Abu Dhabi and the UAE achieve its economic and sustainability goals as the nation prepares to host COP28. The market for CECs is rapidly growing and gaining further momentum as organisations take positive, tangible action to decarbonise their energy consumption and contribute to the UAE Net Zero by 2050 strategic initiative. Following the announcement of the UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan that 2023 will be the “Year of Sustainability”, we encourage organisations and entities to participate in the upcoming auction and demonstrate their commitment to a more sustainable future.”
CECs are tradable digital certificates issued by the DoE in units of 1 MWh. They conform to International REC Standard (I-REC) measures and are currently the only accredited instruments in Abu Dhabi to prove ownership of the environmental and economic benefits of consuming clean energy. EWEC plays a key role in implementing the CECs scheme by being the Single Registrant and Auction Operator.
Registration to participate in the upcoming CECs auction, taking place on 14 March 2023, is now open. If you would like to track and verify your clean energy consumption, please visit www.ewec.ae/en/CleanEnergyCertificates or contact EWEC’s Clean Energy Certificates team at: CleanEnergyCertificates@ewec.ae
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About Emirates Water and Electricity Company
Emirates Water and Electricity Company (EWEC) drives the planning, forecasting, purchase and supply of water and electricity in Abu Dhabi and beyond. EWEC performs its role as the sole procurer of water and electricity from independent producers, ensuring the short- and long-term balancing of bulk supply and demand for distribution companies. EWEC is part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy. For more information, www.ewec.ae.