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Portugal to Auction 2.62 TWh of GOs on 30th March

Wednesday, 09 March 2022

Author: Kumara Rathnam

Portugal is scheduled to auction around 2.62 TWh of Guarantees of Origin (GOs) on March 30th, and this will be its 8th auction. The auction will be managed by OMIP, and the auctioned GOs are from renewable energy, which benefited from production or investment support. The revenue will be reverted to the National Electric System.

The GOs would be sold in nine lots and, in total, represent approximately 2.62 TWh of GOs. The GOs are for 2021 production ( from August and September, November) vintages with around 1.55 TWh GOs from Wind. The reserve price is 0.15 €/MWh.

Compared to the previous auction, the total offered volume dropped around 10%,  where almost all volumes from different technologies, where lower by about 5-10% from the previous auction

Given the overall decline in the prices of GOs in the OTC market since the last Portuguese auction, we expect the marginal price to go lower compared to price witnessed in the previous auction.

Source: OMIP & DGEG