Friday, 08 May 2020
The following article outlines the key countries for renewable energy GO issuance, cancellations, net importers, and net exporters within the AIB.
All statistics mentioned refer to the first quarter of 2020 (January-March inclusive).
Main trends:
Total RES-GO issuance in the AIB during Q1 2020 was 19.4% higher when compared to the first quarter of 2019 (read more here).
Norway remains the largest issuer of GOs in the AIB. However, issuance was slightly lower by 2.8% for the same period of the previous year. This was also the case for Spain which saw a similar issuance drop of 1.8%.
The rest of the top issuers saw increases in issuance compared to Q1 2019 with France having the greatest increase, double the amount from the previous year. The high supply in France and Italy is attributed to the high auctioned volumes of 2 743 GWh and 805 GWh supported RES-E GOs respectively (more information here).
RES-GO transaction total cancellations during Q1 2020 were higher compared to the same period in previous years. Spain had the highest transaction cancellations in Q1 2020 these figures will change when the country's March 2020 figures are released. When compared to Q1 2019, Germany, Sweden, and the Netherlands also had decreases in cancellations.
In Q1 2020, France had the highest percentage increase in cancellations compared to Q1 2019 of 41%. Italy and Norway also saw increases in cancellations when compared to Q1 2019.
According to Q1 2020 net exports, Norway continues to be the AIB’s top exporter, the country’s net exports increased by 14% when compared to Q1 2019. Italy and Denmark also exported slightly fewer GOs during Q1 2020 when compared to the same period the previous year.
Sweden turned from being a net importer in Q1 2019 to becoming a net exporter in 2020 with significant volumes exported in Q1 2020 by 147%. This change is mainly due to the country’s rapid RE expansion especially within the wind industry. This trend is expected to continue due to further investments in the pipe works to double Sweden's wind power production by 2022.
France and Iceland also had slight increases in GO exports compared to Q1 2020.
Switzerland and Belgium's net imports of Q1 2020 decreased when compared to the same period last year. Germany and the Netherlands had the largest increase in imports when compared to Q1 2019.
Portugal and Montenegro are set to join the AIB which is likely to increase GO supply within the market.