In July, the Spanish domestic GOs market witnessed an impressive 127% surge in trading volume, driven mainly by significant large-volume transactions and a rising interest in forward GOs. Despite this substantial increase in volume, the market’s liquidity, measured by the number of trades, remained stable, partly influenced by the impact of the holiday season. Towards the end of July, market participants displayed heightened confidence in the market’s long-term prospects, although the decreased demand for 2023 vintages contributed to a bearish price trend. As a result, a notable price spread of up to 1 EUR/MWh emerged between 2023 and 2024 contracts. However, market participants anticipate that this large price spread will gradually correct from Week 32 as trading activity picks up following the holiday season.
Following the statistics provided by our data partners, we can discern the following noteworthy observations of the Spanish domestic GOs market:
Liquidity Trends During July, the Spanish domestic GOs market witnessed a remarkable upswing in trading volume, soaring impressively by 127% compared to the previous month. Despite this substantial increase in volume, the market’s liquidity, measured b…
Veyt specialises in data, analysis, and insights for all significant low-carbon markets and renewable energy.
