On 7 November 2022, the 13th Portuguese auction for Guarantees of Origin (GOs) was held by OMIP. In total, 3.65 TWh GOs were auctioned (+ 11%), all corresponding to the subsidized power plants for renewable electricity production under a direct price support regime. The net income from the auction (auction revenues deducted from overheads related to the acquisition of electricity from renewable energy sources) is reverted to consumers.
The auction model was a descending clock, consisting of eight lots, according to the criteria of technology (Solar, Wind, Hydro, and Thermal) and production periods (July, August, September and October 2022). The majority of the auctioned GOs (2.77 TWh, 76%) were from Wind, followed by 0.47 TWh of Thermal GOs (13%). All the offered volumes were sold out, and the sold volumes increased by around 11% compared to the previous auction.
Furthermore, the marginal prices of 2022 vintages for all technologies increased by around 88% (+117% for Hydro!) in comparison to the previous auction. Relative to OTC prices on 7 December 2022, all technologies were sold during the auction at a discount: -13 Eurocents for Hydro, -48 for Wind, -115 for Solar and -296 Eurocents for Thermal GOs.
Source: Auctions for Guarantees of Origin | OMIP
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