Buy and sell hourly carbon-free energy attributes based on when and where they’re generated. Procure just the right amount.
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GCs are a type of energy attribute certificate that verify the time and location that carbon-free energy (CFE) is generated. We are effectuating the EnergyTag standard for GCs, by which one GC represents one watt hour of CFE within an hourly time interval. GCs enable energy buyers to easily source CFE generated around the clock, and incentivize energy sellers to produce clean energy where and when it's most needed.
At marketplace launch, available GC technology types will include renewables (e.g. solar, wind), nuclear, and hydropower. Additional generation types, including energy storage generated by renewable sources, are under consideration for future auctions.
Before the auction, participants independently determine their GC needs; where and when they need additional CFE to match consumption, and where and when they have excess CFE. The LevelTen team will support the creation of a log-in to both WebICE, the trading platform, and LevelTen Energy, the GC management platform. Once access is granted and before the auction takes place, participants share their hourly net need profiles with LevelTen.
Participants have the option to participate in two auctions to purchase or sell GCs: a forward market, featuring GCs that will be minted in the future, and a spot market, featuring GCs that have already been minted. GCs are bought and sold in four-hour blocks in the forward market on a quarterly basis, and one-hour blocks in the spot market on a monthly basis.
After buyer demand and supply are matched, the LevelTen platform is used to manage the physical delivery of GCs. LevelTen acts as an intermediary, ensuring payment is made by the buyer, and GCs are delivered by the seller.
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