Thursday, 22 September 2022
EEX held the 36th auction for Guarantees of Origin (GOs), with the book opening on 14 September 2022 and order matching on 21 September 2022 for June 2022 production GOs.
A total of 3.275 TWh of supported RES-E GOs were auctioned, 21% below the previous auctioned volume and thus significantly lower than the auctions in the first quarter this year. As usual, all offered volumes were sold (99.99% to be precise). The Wind GOs represented around 43% of the total auctioned volume, with an 18% decrease in auctioned volumes compared to the previous auction. Hydro, Solar, and Thermal GOs auctioned volumes moved by -61%, -7%, and -25%, respectively.
Compared to the previous auction, the prices of all technologies have increased, by 17% on average (between 16 and 18%), translating to a 51 to 58 Eurocents increase, lower increases compared to the previous auction.
Compared to current year OTC prices (excluding Thermal GOs), GOs sourced were sold with both premiums and discounts. Thermal (Cogeneration and Biomass) GOs were sold with a premium of 31 Eurocents/MWh (14 Eurocents premium for the last auction), while Wind GOs were auctioned at a premium of 2 Eurocents/MWh. GOs for Hydro and Solar were auctioned at a discount of 6 and 3 Eurocents/MWh, respectively.
The upward trend of auction prices correlates with movements in the EU GOs OTC market for 2022 production for the past month, which is around five times above auction prices of twelve months ago.
Source: EEX