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Indirect emissions compensation for electricity

Brief description

According to the Ministerial Decision 21906 (Government Gazette B3304/09.12.2014) the Operator of Electricity Market (LAGIE SA) has  the role of Competent Body for granting support for businesses in sectors and sub-sectors that are exposed to significant risk of carbon leaks, due to the cost of rights of the EU emissions trading system, which is passed on the electricity prices (compensation for indirect emissions costs).

Detailed description

LAGIE SA’s “Compensation Information System” is available for use by the Validating Bodies of LAGIE’s “Registry of Validating Bodies” for the purpose of:

  1. registration of new Eligible Businesses in LAGIE’s “Electronic Registry of Businesses” and submission to the System of “Historical & Reference Data” for each new Business/Facility/Product, in accordance with LAGIE’s Verification Methodology,
  2. Submission of “Annual Verification Report Data” by Facility and by Eligible Product, for companies that are new to or already on the Registry of Eligible Businesses, and
  3. Submission of “Annual Documentation Studies” by Eligible Business, for companies that are new to or already on the Registry of Eligible Businesses.

What is the verification procedure?

The Verification Procedure includes:

  1. Auditing of the Application Form completed by the company.
  2. Assessment of the company’s Reports, Handbooks, Procedures and methodology.
  3. On-site verification of the company’s spaces and facilities.
  4. Forwarding of the verification report to the company.
  5. Supplementary Verification if requested.

 

Who is it for?

Verification is addressed to all companies that satisfy the requirements for registration on LAGIE SA’s registry of businesses

  • Businesses in sectors and sub-sectors that are exposed to a significant risk of carbon leak, due to the cost of rights of the EU emissions trading system, which is passed on to electricity prices (indirect cost of emissions),
  • Suppliers of the Day-Ahead Scheduling (DAS) Market

What are the benefits of verification?

Businesses can benefit financially for the period up to 2020 to offset a significant portion of the increase in energy costs accruing from the indirect cost of carbon dioxide emissions that is paid through electricity bills. The highest compensation for a given year is calculated at 85% of the total charges (€) for CO2 emissions from the Electricity Provider at the Facility, minus any discount. This sum must first be verified by an accredited, independent verification body.

Who do I contact for certification?

Customer Service Department Contact Person: Ms. Anna Topaltziki, Tel: 210 5220920, Ext: 187

Certification application