A European Union energy directive to help member states meet new targets set earlier this year on renewable energy use is very likely to include a proposal for a trading mechanism so countries can trade their individual targets on renewable energy, a spokesman said Wednesday.
The scheme, which will be outlined on Jan. 23 when the E.U. energy and environment commissioners submit a package of draft legislation on climate change and renewables, will be similar to the current carbon emissions scheme although there will be some differences, said Ferran Tarradellas, spokesman for the E.U. Energy Commissioner.
"It's very likely that this scheme will be voluntary, but it will benefit everyone - countries with potential to produce energy from renewable sources and those with less potential," Tarradellas told Dow Jones Newswires.
Under the scheme, a country that produces more than its target of renewable energy would be able to sell a "certificate" or "guarantee of origin" for a unit of green energy to a country that is falling short of its national target.
The package of draft legislation is designed to help E.U. countries meet a mandatory target of 20% renewables by 2020 from a current rate of 8.5%. E.U. leaders agreed on the 20% binding target back in March