02 June 2022

Auction of Guarantees of Origin with record revenue

The tenth auction of Guarantees of Origin (GO) took place on 26 May. In Portugal, these certificates are issued by REN - Rede Eléctrica Nacional, and guarantee to the electricity consumer that the corresponding energy comes from renewable generation. For the first time, the net income of the auction exceeded €5M, a figure that will be deducted from the extra cost of renewables borne by Portuguese consumers.

A total of 3.26 million GO (equivalent to 3.26 TWh of certified energy) were auctioned, divided into eight lots, according to criteria of technology (solar, wind, hydro, and thermal) and generation period (between December 2021 and February 2022), and were all awarded. In the auction, 17 entities took part, and 15 managed to make at least one purchase. Additionally, a new maximum value (€1.95) was reached at the auction for solar energy.

In mainland Portugal, REN assumes the role of Issuing Body for Guarantees of Origin (Entidade Emissora de Garantias de Origem - EEGO) and is responsible for implementing and managing the system for issuing GOs, including the electronic registration, issue, transfer, and cancellation of these certificates. EEGO started operations in March 2020.

So far, around 345 companies, including producers, traders, and brokers have applied for registration. Regarding production facilities, almost 700 are registered, totalling approximately 15.4 GW of installed capacity.


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