However, the CNMC has today announced that they are thoroughly examining the legal framework related to the acceptance of imports and exports of GOs from Serbia. This examination would take into account both national and European regulations. As a result, until further notice, the import and export of these Guarantees of Origin are being suspended by the CNMC.
The suspension of Serbian GOs by Spanish authorities is likely to lead to a reduction in the spread between Spanish domestic GOs and AIB GOs, leading to possible price increase in Spanish domestic GOs. However, given the relatively small size of the Serbian market (around 10 GWh) the impact overall would be small for the large AIB market area.
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