Mobility Portal, Spain
Date: November 15, 2023
Inés Platini
By Inés Platini

STX Group promotes “eCredits” system to value renewable electricity in electromobility

Etienne Mingot, Business Development Manager for Electromobility at STX Commodities, details to Mobility Portal Spain the advantages of this system in the context of sustainable mobility.

Recognized as a global leader in Environmental Commodities trading and provider of Climate Solutions for corporations, within the category of Renewable Energy Certificates, STX Group aspires to introduce an eCredits mechanism in the Spanish market.

In this framework, Etienne Mingot, Business Development Manager for Electromobility at STX Commodities, reveals to Mobility Portal España the group’s latest plans in environmental product trading.

Currently, the company provides consultancy in countries such as Germany, the Netherlands, Belgium, Austria, and France, where an eCredits mechanism has already been implemented.

These systems compel oil companies to invest in renewable energies for transportation, becoming a crucial mechanism to align financing with climate goals and promote electric mobility.

“In the context of the recent public consultation on the Draft Order establishing the Promotion Mechanism for Biofuels and Other Renewable Fuels for transportation in Spain, we identify a unique opportunity to incorporate renewable electricity in the transport sector,” they assure.

“It is expected that Spain, following the example of its European neighbors, can comply with the RED regulations through the implementation of its mechanism in the national territory,” adds Mingot.

“We are collaborating with AEDIVE and Transport & Environment to promote a system that benefits Charging Point Operators (CPOs) and private charging,” the company details.

This system, which does not require public funding, allows CPOs to generate additional revenue by selling renewable energy certificates.

According to Etienne Mingot, this measure accelerates revenue from charging infrastructure and encourages reliable investments in more charging points.

The benefits of the mechanism are significant:

  1. Channels funds for the development of electric vehicles without resorting to public funds.
  2. Strengthens the charging infrastructure, improving the business case for these investments and accelerating their implementation.
  3. Reduces barriers to entry for the acquisition of electric vehicles, complementing existing schemes like MOVES and assisting with charging costs.

However, he emphasizes that there are prevailing reasons in the country explaining why this trend has not been widely adopted, such as the political context.

“It is urgent to implement this system for the entire ecosystem to benefit, as Spain has great potential in the eMobility sector, and these measures will help drive the industry,” he asserts.

STX ensures that money flows to hundreds of projects that make the world a greener place.

About STX Group

STX stands out as one of the world’s leading traders in environmental commodities.

Through its commercial and solution offerings, it ensures that funds are directly and indirectly allocated to hundreds of projects contributing to a more sustainable world.

In this context, Mingot highlights: “In France, for every megawatt supplied to a vehicle on the public road, it is valued at approximately 90 euros per MWh.”

And looking at a more mature market, such as Germany, “between 2020 and 2022, we have added over a terawatt of electricity and generated over 160 million euros for CPOs.”

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