Thursday, 17 November 2022
EEX held the 38th auction for Guarantees of Origin (GOs), with the book opening on 9 November 2022 and order matching on 16 November 2022 for August 2022 production GOs.
A total of 3 215 TWh of supported RES-E GOs were auctioned, 1.3% above 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, 1 Solar MWh was not sold). Solar GOs represented around 46% of the total auctioned volume, with a 14% increase in auctioned volumes compared to the previous auction. Hydro, Wind, and Thermal GOs auctioned volumes moved by -28%, -11%, and +14%, respectively.
Compared to the previous auction, the prices of all technologies have increased, by 46% on average (between 42 and 48%), translating to a 233 to 257 Eurocents increase, the highest price increase of the year.
Compared to current year OTC prices, Wind and Solar GOs sourced were all sold close to parity. Thermal (Cogeneration and Biomass) GOs were sold with a discount of 20 Eurocents/MWh (56 Eurocents premium for the last auction), while Hydro GOs were auctioned at a discount of 22 Eurocents/MWh.
The upward trend of auction prices nonetheless correlates with movements in the EU GOs OTC market for 2022 production for the past month and weeks, where prices overtook the 700 Eurocents/MWh mark and are now close to 800.
Source: EEX
Greenfact will be hosting a Live Market Session next Tuesday 22 November at 2pm CET to discuss price trends and a looking forward to 2023. Feel free to reach out to leo@greenfact.com or sign in directly here.