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European GoO prices double in the third quarter of 2021

Wednesday, 17 November 2021

Selma P. Utonih

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Author: Selma P. Utonih

Highlights
  • In Q3 issuances increased by 7% while cancellations increased by 17%, compared to the same period in 2020.
  • In Q3 overall trading activity decreased. However forward market trades increased by 13% partly due to market participants witnessing the rise in GoO prices and hedging their portfolios.
  • Q3 experienced a significant increase in GO prices for all major products. Nordic Hydro, EU Hydro, and EU Wind products for 2020 and 2021 production all experienced well above 30 Eurocents/MWh price increases.
  • Moving into the final quarter of 2021, we expect market activity to remain stable with increased interest for forward-year GO vintages.

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