At Veyt, we integrate these national GO datasets directly into our market models and analysis, providing our clients with early signals of emerging demand trends in the European GO market. In the temporary absence of technology-specific data from the Association of Issuing Bodies (AIB), national registry-level statistics also offer valuable perspectives on how current price levels, policy developments, and regulatory uncertainty are shaping renewable electricity consumption in Europe.

Figure 1: Year-on-year change in GO cancellations

Following the price peak in late 2022, when GO spot prices reached nearly EUR 10 per MWh, values have since declined sharply, reaching EUR 0.33 per MWh on 5 November 2025. The combination of strong renewable generation, capacity expansion, and favourable weather conditions contributed to a record market balance in 2024. Meanwhile, backtracking on EU legislation, such as the ongoing renegotiation of the Corporate Sustainability Reporting Directive (CSRD), have tempered market sentiment and dampened short-term demand signals.

Nevertheless, national GO registry data offers some grounds for optimism to those hoping for increased demand. Our analysis indicates that declining prices have encouraged a switch from nuclear to renewable electricity and an overall increase in renewable power demand. Although most GO cancellations for 2025 typically occur in Q1 2026, these early figures suggest a recovery in demand despite bearish price conditions. 

This supports Veyt’s medium-term forecast, which anticipates that the record-high 2024 market balance will narrow in 2025, signalling a gradual rebalancing of European renewable electricity demand. A more complete picture will emerge once the next wave of 2025 cancellations is reported.

To explore the latest national GO data, market forecasts, and price analysis, request a free trial and gain full access to Veyt’s data-driven renewable electricity platform.