North Macedonia has launched competitive trading of guarantees of origin, with electricity market operator MEMO completing the country’s first auction. The certificates were offered under a wind feed-in tariff programme.
MEMO sold 34,000 certificates out of 35,000 offered, at an average auction price of €0.35 per certificate. The guarantees represent renewable electricity generated by supported wind projects and establish a market-based way to value the certificates.
Since its certification system became operational, North Macedonia’s GO market has grown, with more than 850,000 guarantees of origin issued since April 2025.
Trading and market reform
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 is part of North Macedonia’s broader electricity market reform programme and the country’s gradual alignment with European energy-market rules. MEMO intends to continue developing organised GO trading as demand for renewable electricity certification increases.