General Index launches Guarantees of Origin (GO) benchmarks

Energy markets have long suffered from information asymmetry - a mismatch in knowledge between producers and consumers. In the case of electricity, it’s virtually impossible for consumers to distinguish between renewable and non-renewable sources once the power reaches their outlet.

To address this, Guarantees of Origin (GO) were introduced by the EU in 2001 under the first Renewable Energy Directive (RED I). These certificates allow energy producers to prove the renewable origin of their electricity and give consumers credible claims about the energy they use.

While originally a voluntary tool, GOs are rapidly becoming an essential compliance instrument. Regulatory developments across Europe - most notably the Corporate Sustainability Reporting Directive (CSRD) and the upcoming Green Claims Directive - are pushing GOs from a “nice-to-have” to a “must-have.” By 2029, over 50,000 companies operating in the EU will be required to disclose the source of their energy consumption under CSRD. In parallel, the GO market has seen significant growth, with rising demand from corporates, utilities, and traders.  

GOs solve this by decoupling the environmental value of renewable electricity from its physical flow. This allows consumers to credibly claim their energy use supports renewables, regardless of their grid’s makeup.

General Index GOs price benchmarks

To bring greater transparency, consistency, and comparability to the Guarantees of Origin market, we've partnered with Cleanworld, Enmacc and Parameta Solutions to launch a comprehensive suite of GO price indexes. These indexes reflect real market activity, sourced from a combination of Cleanworld’s market intelligence, Enmacc’s trading data, Parameta Solutions' independent market data, and published through the pricing infrastructure capabilities of General Index (GX).

This unique set of indexes launched in collaboration with our data partners ensures our assessments are consistently underpinned by robust liquidity, accounting for the majority of the day's trading activity.

The indexes cover a broad range of technologies in Europe, including:

• Hydro, wind, solar (HWS)
• Renewable
• Hydro/Nordic Hydro
• Nuclear
• Wind
• Solar

Each index is publish across multiple vintages, from 2023 to 2029, capturing the time-differentiated value of GOs as market participants increasingly account for delivery years and long-term contracting.

The result is a trusted benchmark system designed to bring clarity and consistency to a fast-evolving and often opaque market. For the first time, corporate buyers, analysts, and traders can rely on standardized prices to evaluate GO contracts, track market movements, and manage compliance risk.

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Benefits for market participants

The GX GO indexes are built to serve the diverse needs of stakeholders across the energy and sustainability landscape.

Corporate energy buyers

Companies looking to meet sustainability goals through renewable energy procurement can use the GO indexes to evaluate GO offers, negotiate fair prices, and align contract terms - especially in power purchase agreements (PPAs). Index-based procurement brings credibility and clarity to ESG strategies, and ensures companies are not overpaying in opaque markets.

Market analysts and observers

For analysts, consultants, and policymakers, these indexes offer deep insight into the dynamics of renewable energy demand, regional variations, and pricing trends over time. As new regulations and climate commitments reshape energy procurement, indexed data helps track market evolution and inform strategy.

What are GOs?

GOs are digital certificates that prove a specific quantity of electricity - typically one megawatt-hour - was generated from renewable sources. They are issued, traded, and cancelled within a clearly defined lifecycle: GOs are valid for 12 months from the end of the production period.

But GOs do more than just certify production - they solve a fundamental limitation of modern power grids: you can't trace electricity to its physical source. Since electrons from all sources mix once they enter the grid, there’s no way to physically identify renewable energy. GOs solve this by decoupling the environmental value of renewable electricity from its physical flow. This allows consumers to credibly claim their energy use supports renewables, regardless of their grid’s makeup.

By enabling this traceability, GOs serve as an important accountability tool for companies and consumers alike. They align financial incentives with climate goals, helping renewable energy projects become more bankable, while giving buyers a tangible way to demonstrate their commitment to sustainability.

Overall, GOs are an engine of progress helping to finance new renewable capacity, increase market transparency, and accelerate the decarbonisation of global energy systems.

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