On 13 July 2022, the 11th Portuguese auction for Guarantees of Origin (GOs) was held by 

. In total 3.5TWh GOs were auctioned, all corresponding to the subsidized power plants for renewable electricity production under a direct price support regime. The net income from auction (auction revenues deducted from overheads related to the acquisition of electricity from renewable energy sources) is reverted to consumers. There were 21 participants and 9 buyers in this auction.

The auction model was a descending clock, consisting of eight lots, according to the criteria of technology (Solar, Wind, Hydro, and Thermal) and production periods (March 2022 and April 2022). The majority of the GOs (2.63TWh, 75%) were from Wind, followed by 0.49TWh of Hydro GOs. All the offered volume were sold out, and the sold volume increased around 8% compared to the 

. Except for Thermal GOs, auctioned volume for all other technologies increased between 12% to 20%.

PT 11th - Auction Result

Furthermore, the marginal prices of 2022 vintages for all technologies increased around 20% in comparison to the 

 on 13 July 2022, prices for Wind and Hydro GOs were at a discount of 10 Eurocents, while prices for Solar and Thermal GOs held a premium of 5 Eurocents. However, since Portugal reports only marginal prices and not volume-weighted average prices, it is hard to make a direct price comparison to the OTC market.

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Portuguese auction GOs prices increase despite rising volumes

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