RES market operator DAPEEP is expected to stage an inaugural Guarantees of Origin auction in June, following anticipated approval of this competitive procedure’s terms in April by RAAEY, the Regulatory Authority for Waste, Energy and Water. A second round of public consultation was recently completed.

The intermediate period between RAAEY’s expected approval of the auction terms next month and the staging of the inaugural auction will be needed by participants as GO auctions will emerge as a completely new procedure for the Greek electricity market.

Following their launch, GO auctions are planned to be repeated every three months.

DAPEEP, the RES market operator, has yet to decide on the quantity of GOs to be offered to participants through the first auction. The operator will make a decision after discussing details with RAAEY.

Auctioning off green certificates issued in 2023 is believed to be one option under consideration. If implemented, green certificates issued so far in 2024 would be placed for auction from the second GO auction onwards.

GOs representing a total renewable energy capacity of 22.4 TWh were issued in 2023, of which 4.44 TWh can be auctioned off at the upcoming inaugural GO session, Maria Koulouvari, Administrator of Renewable Energy Sources and Guarantees of Origin at DAPEEP, told the recent Renpower Greece 2024 conference.