North Macedonia has begun competitive trading in guarantees of origin, with electricity market operator MEMO completing the country’s first auction. The certificates represent renewable electricity generated by wind projects supported under a feed-in tariff programme.
MEMO sold 34,000 certificates from the 35,000 offered, at an average auction price of €0.35 per certificate. The auction establishes a market-based mechanism for valuing the renewable attributes represented by the guarantees.
Growing market for renewable electricity certification
Since its guarantees of origin certification system became operational, North Macedonia has issued more than 850,000 guarantees, starting in April 2025. Competitive auctions could give renewable generators an additional source of revenue and make certificate pricing more transparent.
The mechanism is also relevant to industrial consumers seeking evidence that their electricity purchases come from renewable generation. The initiative is part of North Macedonia’s broader electricity market reform programme and gradual alignment with European energy-market rules.
MEMO intends to continue developing organised guarantees of origin trading as demand for renewable electricity certification increases.