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HomeTradingHUPX signals growing demand for green energy after third GO auction

HUPX signals growing demand for green energy after third GO auction

The Hungarian Power Exchange (HUPX) informed after its third guarantees of origin (GO) auction held on Tuesday that GO prices continued to rise sharply and Hungarian GOs were sold at 8.16 EUR/MWh on average. The volume weighted average price mark the growing demand for green energy, as it exceeded 8 EUR/MWh for the first time ever on an organized GO market.

As a comparison, during the past auction held in October prices reached 5 EUR/MWh, said HUPX, adding that the traded volume was 289 967 MWh in November with 14 market participants and 84 per cent of the offered AIB standard guarantees of origin were sold.

While on the September auction Norwegian and Hungarian GOs, on the October auction French and Hungarian GOs were sold, now only Hungarian GOs were traded. However, the offered volumes included French GOs this time as well.

HUPX organised the first guarantees of origin (GO) auction in Europe on 20 September 2022, where all market participants active in any AIB member country had the opportunity to sell GOs. HUPX, the operator of the first pan-European GO market since then holds monthly auctions, hence the second auction was held on 18th October and the third on 22 November.

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