New Zealand’s official certification system is managed by private business Certified Energy and operated by the New Zealand Certificate System (NZECS) that provides registration, exchange, transaction and redemption and declaration of certificates.
- Validity period: All issued certificates will be cancelled and removed from circulation if they are not redeemed at the end of the year, and they cannot be carried over to the next year.
- Issuing body: New Zealand Body for Certificate Issuance (NZBCI)
- Issuing region: New Zealand
- Number of certificates issued: 228,741 (from 2020 to 2021)
- Calculation method: Calculate the power generation from the power generators and issue the certificate.
- Tracking unit: Certified Energy
The validity period is specified on NZ-ECs.
Production year X (April 1 to March 31 of the following year): Certificates are time-bound to a particular production year and can be traded and redeemed for consumption occurring in the same year. The issued certificate will be cancelled if it is not redeemed by the end of the production year (All setup activities including registration and production equipment inspection can be conducted throughout the production year).
End of year final actions (April 1 to April 30, production year X+1): Registrants and participants have one month to complete the last transaction for the end of the production year. The purpose of this grace period is to address delays in the provision of power generation or consumption data and to ensure that all transactions are completed before system reconciliation begins.
Individual user calculations (May 1 to May 31, production year X+1): The individual reconciliation and verification can be performed once all transactions related to the production year X have been executed. During this process, explicit certification (purchase and redemption of certificates) is provided for each energy user, with a final statement detailing the nature and number of the purchased certificates.
Residual supply mix calculation ( June 1 to June 30, production year X+1): The last step in system reconciliation process for the production year X is to calculate the residual supply mix by deducting all certified power generation from the total volume of generated electricity before disclosing the residual supply mix after adjustment to system users.
Trade shall be conducted through the New Zealand Energy Certificate System (NZECS).
The certificate price is determined by supply and demand. The trading prices are not made public.
Benefits of the certificate
The following are the organizations that have recognized NZ-ECs:
- Greenhouse Gas Protocol Scope 2
- Certified Energy
- How do NZ-ECs fit into the world of environmental accounting and emissions reporting?, Certified Energy
- New Zealand Energy Certificate System Rules