Green Electricity Market

Source: International Energy Agency
Last updated: 3 December 2019

The Green Electricity Market (GEM) was a voluntary, industry- owned market trading in "green electricity rights", set up with government funding under the Renewable Energy Commercialisation Program (RECP). GEM went live in July 2001 and provided an Internet-based portfolio management and trading platform for the Renewable Energy Certificates (RECs). The goverce structure of GEM was founded on an industry self-governance and co-operation model. This allowed market participants to voluntarily determine, agree and enforce operational market rules independent of industry regulators. The GEM ceased operations on 30 June 2003, and was seen as a valuable learning experience in industry self-goverce, cooperation, internet trading and payment guarantee.

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