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The 5th Portugal Auction 2021- Marginal prices for GOs trend lower

Wednesday, 15 December 2021

On 15th December, on the OMIPlus platform, the 5th auction for Guarantees of Origin was held related to the production of electricity from renewable sources in Portugal from power plants that benefit from a direct price support regime.

The auction model was the ascending clock, with 3.83 TWh of GOs of Guarantees of Origin being auctioned, divided into eight lots, according to the criteria of Technology (Solar, Wind, Hydro, and Thermal) and Production Period (February and August 2021). 

The majority of GOs (2 TWh) were from Wind, followed by 1.38 TWh of GOs from Hydro. Compared to the previous auction, the volume of Wind GOs had decreased 9%, while the Hydro GOs had increased 48%.

All the offered volumes were sold with demand exceeding the auctioned volumes.  However, the prices have trended lower compared to the average OTC prices. Meanwhile, the marginal prices of GOs produced in February are lower than the ones in August 2021; this is mainly due to the limited time validity left for those GOs compared to the August 2021 GOs.