What Does this Mean?
For years, ON Power's customers have purchased their electricity along with Guarantees of Origin without any extra cost. Icelandic law states that since Iceland is part of the European energy market, the country is thus a participant in the certification system for the origin of electricity. The Guarantee of Origin system was established to support renewable energy production and thereby combat global warming.
Do I Need to Do Something?
It is important to keep in mind that ON Power's customers will automatically be moved to a lower rate that does not include Guarantees of Origin.
However, our customres have the option to pay separately for these guarantees.
Where does ON Power's Revenue from the Sale of Guarantees of Origin go?
Until 2018, revenue from the sale of Guarantees of Origin was allocated to the construction of charging infrastructure for electric vehicles, and since 2019 investments have been made and will continue to be made in technology and innovation to make ON Power's operations carbon-free, for example with the Carbfix technology.
Environmental issues are very important to us, and therefore we endeavour to use revenue from Guarantees of Origin for projects that support our community and the environement.
