Contribution of green labels in electricity retail markets to fostering renewable energy |
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| Affiliation: | 1. Authority for Consumers & Markets and University of Groningen, Faculty of Economics and Business, The Netherlands;2. Free University Amsterdam, The Netherlands;1. Chair of Marketing and Consumer Research, TUM School of Management, Technical University of Munich, Germany;2. Charles H. Dyson School of Applied Economics and Management, Cornell University, New York, USA;1. Technische Universität München, Center of Food and Life Sciences Weihenstephan, Baywa Endowed Professorship for Governance in International Agribusiness, Alte Akademie 12, 85354 Freising, Germany;2. University of Applied Sciences Weihenstephan-Triesdorf, Straubing Center of Science, Chair of Marketing and Management of Biogenic Resources, Petersgasse 18, 94315 Straubing, Germany;1. University of Barcelona & Barcelona Institute of Economics, Chair of Energy Sustainability, Spain;2. Institute of Public Policies and Goods (IPP). Consejo Superior de Investigaciones Científicas (CSIC), Spain;3. UDL & Energy Sustainability Research Group (UB), Spain;1. Department of Industrial Economics and Management, Royal Institute of Technology, 100 44 Stockholm, Sweden;2. Department of Business Administration, Universidad Politécnica de Madrid, 28006 Madrid, Spain;1. Catholic University of Sao Paulo, Department of Economics, Brazil;2. University of Cambridge, Department of Land Economy, UK;3. Central Michigan University, College of Business, USA;4. Getulio Vargas Foundation, Sao Paulo Business School, Brazil |
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| Abstract: | In European countries, retailers are obliged to disclose the energy source and the related environmental impacts of their portfolio over the preceding year. The electricity supplied in the Dutch retail market is presented as renewable energy for 34%, but this relatively high share is for 69% based on certificates (Guarantees of Origin) which are imported from in particular Norway. The certificates are used to sell green electricity to consumers. The premium for green electricity which is actually paid by Dutch consumers is no more than a few percentages of the retail price. The low level of this premium is related to the abundant supply of certificates at low marginal costs from Norway. This also means that the premium for green electricity is too low to give an incentive for investments in new capacity. Hence, the current labelling system for renewable electricity is mainly valuable, besides being an instrument for tracking and tracing of renewable energy, as a marketing instrument for electricity retailers. The effectiveness of Guarantees of Origin as a policy instrument to foster renewable electricity sources is weak. This effectiveness can be raised by implementing restrictions on the international trade or the issuance of new certificates. |
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| Keywords: | Electricity market Environmental policy Consumer behaviour Electricity labels Tradable green certificates |
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