Greece could offer up to 6 TWh worth of GOs in upcoming auctions

Greece is expected to launch its first auction of subsidised guarantees of origin (GOs) in December or early 2024, potentially offering an estimated 6 TWh of 2023 GOs in total by the end of the compliance period in March 2024 which could have a short-term bearish price impact.

The country has been exporting GOs via ex-domain cancellations – since direct exports will only become possible in the following weeks – and most of the expected auctioned volume will most probably flow towards other AIB countries.

Greek Registry and Issuing Body DAPEEP’s planned auctions could have a short-term bearish impact on prices given that large volumes will be offered in just a few sessions which will be possible until the disclosure deadline for 2023 which is on 31 March 2024.