French Guarantees of Origin (GoOs) Sell Out in Sixth Consecutive Month at Powernext Auction
The recent Powernext auction saw all 2.35TWh of June-generated French guarantees of origin (GoOs) being sold, marking the sixth consecutive month of sell-out, according to data from The European Energy Exchange (EEX).
Wind and solar GoOs in France achieved a weighted average price of €0.818/MWh, with 883GWh and 727GWh sold, respectively. Hydropower GoOs sold at a weighted average price of €0.7053/MWh for 389GWh. Geothermal and biomass GoOs achieved €0.66/MWh for 355GWh. The prices for wind and solar GoOs were in line with recent European over-the-counter (OTC) market levels.
In the OTC market, current-year European wind and solar GoOs reached €0.84/MWh and €0.82/MWh, respectively, up from €0.78/MWh for both technologies. Nordic hydro GoOs were sold at €0.82/MWh, while 2021 European biomass GoOs rose to €0.77/MWh. These prices represented a premium of just over €0.10/MWh compared to the French auction prices.
The OTC market also experienced a sharp rise in prices, with deals reaching as high as €0.965-0.975/MWh for current-year European solar GoOs and €0.965-0.980/MWh for Nordic hydro GoOs. The strong demand and increasing prices reflect the growing market for GoOs and the value placed on renewable energy sources in Europe.
