OMIP – PÓLO PORTUGUÊS, S.G.M.R IS THE ENTITY RESPONSIBLE FOR THE OPERATION OF THE AUCTIONS FOR GUARANTEES OF ORIGIN OF ELECTRICAL ENERGY PRODUCED IN PORTUGAL FROM RENEWABLE SOURCES THAT BENEFIT FROM AN INVESTMENT OR PRICE SUPPORT MECHANISM.
Decree-Law No. 141/2010, of 31 December (amended and republished by Decree-Law No. 60/2020 of 17 August) provides that producers deliver to the Directorate-General for Energy and Geology the Guarantees of Origin relating to the production of electrical energy from renewable sources:
- that benefits from a direct price support regime or an investment incentive, or
- produced under a power purchase agreement (CAE) or an early termination agreement of a CAE.
Said Guarantees of Origin are subject to transaction through a competitive auction mechanism - Auctions GO-PT. The model applicable to Auctions GO-PT is embodied in the respective Rules, which describe the process and role of the different entities involved, namely:
- the Directorate-General for Energy and Geology (DGEG), through CUR and OMIP, places in the market the GOs with a price or investment support regime.
- SU ELETRICIDADE (CUR) is the entity responsible for the financial settlement and invoicing of revenues from the Auctions GO-PT.
- OMIP – Pólo Português, S.G.M.R. (OMIP) is the entity responsible for managing the participation and operation of the Auctions GO-PT.
- OMIP, S.A. (OMIP SA) is the entity responsible for managing the financial guarantees required to qualify for the Auctions GO-PT.
- The Guarantees of Origin Issuing Body (EEGO) is the entity responsible for the physical settlement of the guarantees of origin traded in the Auctions GO-PT.
ACCESS TO AUCTIONS GO-PT
Legal persons registered in the EEGO system and who have completed the admission process as a Registered Participant can access. The admission request must be sent to OMIP, together with the presentation of the following elements:
- Admission request as Registered Participant (draft)
- Corporate and operational information.
Admission as a Registered Participant takes effect on the date of signature of the Adhesion Agreement to the Rules of the Auctions GO-PT.
The contact to be used for topics related to the Auctions GO-PT is: leiloes-GO@omip.pt
QUALIFICATION FOR THE AUCTIONS GO-PT
To qualify for the Auctions GO-PT, Registered Participants must meet the following requirements:
- Have active Registered Participant status up to 5 working days prior to the date of an auction.
- Have the status of Qualified Participant up to 2 working days before the date of an auction, in accordance with the provisions of the following point.
Qualified Participant status is assigned when the following conditions are met:
- Have deposited a Financial Guarantee in the Financial Guarantee Account of OMIP, S.A., by 12:00 on the 2nd business day before the auction.
- Qualify as an Active Participant in the EEGO system within 2 business days prior to the auction.
AUCTION GO-PT MODEL
The date and the terms of the Auction, namely the quantity, type and production period of the Guarantees of Origin, reserve price, are set by the DGEG by means of a Notice/Call, published up to 20 days before the auction takes place. The Auction GO-PT model is as follows:
- Marginalist "Ascending Clock" auction. The Reserve Price is established in the Notice/Call.
- Several auctions can take place simultaneously and independently. Specific lots (technology, production period,…) will be auctioned through individual auctions.
- The results of the auction, after approval by DGEG, are sent by OMIP to CUR and EEGO for subsequent financial and physical settlement.
INFORMATION ON AUCTIONS
1st Auction - July 28, 2021
The reserve price is: 0,10 €/MWh. The increase factor to apply to the Financial Guarantee is: K = 3.
|Lot||Technology||Production Period||Volume Offered (MWh)||Volume Sold (MWh)||Marginal Price (€/MWh)|
|1||Solar||Aug-20 and Sep-20||102 929|
|3||Wind||Aug-20 and Sep-20||1 612 606|
|5||Hydro||Aug-20 and Sep-20||396 231|
|7||Thermal||Aug-20 and Sep-20||317 533|
|Total||3 422 808|