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lte 12 FIN00130 Helsinki S11435 Stockholm N1366 Lysaker 33739 Bielefeld Finland Sweden Norway Germany Tel. +358 40 840 8000 Tel. +46 70 618 8003 Tel. +47 6752 1131 Tel. +49 173 601 0380 Fax +358 9 278 2600 Fax +46 8 463 1010 Fax +47 6752 1199 Fax +49 521 8750 580 Please contact us: Project finance IngerAnne Blindheim Mob: + 47 480 39 511 Proj. fin./certificates/pol. risk Arne Jakobsen Mob: + 47 920 89 032 Green certificates Europe Thomas M252。ller Mob: + 49 521 8750 484 CDM/JI Tommi Tynj228。 and – improved power balance Outline of the SwedishNowegian elcertificate market (2/2) ? 15 years elcertificate production period per project ? Each power consumer (except energy intensive industry) obliged to consume a certain quota of renewable energy through elcertificates ? Increasing elcertificate quota level bined with penalty fee for nonpliance ? Elcertificates can be freely traded in the market: spot, futures, forwards ? Elcertificates can be accumulated and saved ? Technology neutral? Timeschedule for the elcertificate market Oct Jan Dec Feb Mar Apr Nov June May Norway 2021 2021 15/02 (?) Law proposal to parliament 20/06 (?) Approval 01/11 – 01/12 possible public review and additional law modification 17/3 law proposal to the parliament March June law proposal at the energy ittee 20/06 Approval Sweden 2021 2021 Jun Jan Dec Nov Oct