Spanish GoO exports reach new highs increasing by 41% in 2021

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This article will present an overview of the results from the CNMC of the issuances, transfers, imports, exports and cancellation figures of the Guarantees of Origin related to the electricity produced throughout 2021 in Spain. Additionally an explanation on some of the possible market drivers and expectations for the current year are presented below. 

Overall, Spanish Guarantees of Origin accounted for a 94.9% share of national production. Increases were witnessed in both the supply, demand and exports of GoOs.  Exports increased by 41% while there was a record-breaking 2 million increase in Spanish final customers that redeemed GoOs in 2021. Tight Spanish GoO supplies, increasing local demand and high domestic GoO prices are expected in 2022.