North Macedonia has begun competitive trading in renewable guarantees of origin, with electricity market operator MEMO completing the country’s first GO auction. It sold 34,000 certificates out of 35,000 offered under its wind feed-in tariff programme. The average auction price was €0.35 per certificate.
The certificates represent renewable electricity generated by wind projects receiving support. Their sale establishes a market-based mechanism for valuing the certificates. Since North Macedonia’s certification system became operational, more than 850,000 guarantees of origin have been issued, with issuance beginning in April 2025.
Potential uses and market development
Competitive auctions could provide renewable generators with additional revenue and improve transparency in the pricing of renewable attributes. The mechanism is also relevant to industrial consumers seeking evidence that their electricity purchases originate from renewable generation. The initiative forms part of North Macedonia’s broader electricity market reform programme.
The programme includes gradual alignment with European energy-market rules. MEMO intends to continue developing organised GO trading as demand for renewable electricity certification increases.