Monday, 26 March 2018
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The recently released AIB statistics for 2017 Q4 show that the Guarantee of Origin (GO) market is growing. Due to a system issue at VREG, the figures do not include Belgium, Flanders.
Issuance increased by 56.9m or 12.1%, and cancellations rose by 103.7m, or 28.3%. The large jump can be partly attributed to Spain joining the AIB in 2016. Cancellation numbers for Spain are not included in the 2016 statistics. Issuance numbers are also incomplete. The impact of the Spanish GO transactions can be seen in the bottom figure by the spike in cancellations in March 2017.
Correcting for Spain gives an indication of how the rest of the market grew. Issuance (without Spain) grew by 25.4m, i.e. 6.0% and cancellations grew by 28.9m, i.e. 7.9%.
Demand for r...