North Macedonia has started competitive trading in guarantees of origin, with electricity market operator MEMO completing the country’s first auction. Under its wind feed-in tariff programme, MEMO offered 35,000 certificates and sold 34,000. The average price was €0.35 per certificate.
Certificates and market development
North Macedonia’s GO market has expanded since its certification system became operational. More than 850,000 guarantees of origin have been issued since April 2025. The certificates represent renewable electricity generated by supported wind projects and provide a market-based mechanism for valuing those attributes.
Role in market reform
Competitive auctions could provide renewable generators with additional revenue and make the pricing of renewable attributes 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 plans to continue developing organised GO trading as demand for renewable electricity certification increases.
