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2021 GO prices increase to EUR 1/MWh at Portuguese GO auction

Monday, 04 October 2021

On the 29th September, on the OMIPlus platform, the 2nd Auction for Guarantees of Origin was held related to the production of electricity from renewable sources in Portugal coming from power plants that benefit from a direct price support regime.

The auction model was the ascending clock, with 3.7 TWh of Guarantees of Origin being auctioned, divided into 8 lots, according to the criteria of Technology - Solar, Wind, Hydro and Thermal - and Production Period - October/November of 2020 and May 2021. All the offered volumes were sold with demand exceeding the auctioned volumes. 

There has been a significant price increase across all technologies compared to the previous auction. Marginal prices for Portuguese Guarantees of Origin (GOs) for renewable power produced in 2021 irrespective of technologies increased to 100 Eurocent/MWh at the latest auction. 2020 Hydro GOs saw the lowest marginal price at 40 Eurocent/MWh.

Source: OMIP