The European Energy Exchange (EEX) nearly sold out of available French biomethane renewable gas guarantees of origin (RGGOs) at its November auction, with average prices reflecting those in the over-the-counter (OTC) market since the August auction. As the final auction of 2025, this completes the average 2025 auction price for French RGGO taxes.
All but 1MWh of the offered 144GWh of RGGOs were sold in the 5 November auction for a weighted average price of €13.98/MWh. EEX calculated the reference price for the auction at €13.96/MWh. Prices averaged €12.18/MWh in the previous auction, when 107GWh of RGGOs traded in August.
Initially, 147GWh produced in March-June was eligible to go into the auction. Three French municipalities pre-empted 2.98GWh of the volumes before the auction, up from 2.16GWh from one municipality before the August auction.
Argus assessed French uncertified RGGOs for 2025 production at €13.90/MWh on 30 October. Bids for French uncertified RGGOs had been around €12.50/MWh at the time of the previous auction.
Certified, ETS-eligible RGGOs did not sell at a premium to uncertified or non-ETS eligible volumes. As in previous auctions, EEX cannot transfer ownership of the Proof of Sustainability for any volumes sold, which limits their use for compliance. For volumes sold in the OTC market, Argus assessed certified, ETS-eligible French RGGOs from any feedstock at a €9.10/MWh premium to uncertified equivalent.
The French government now applies a floor for declared tax levels for 75pc of the sale of RGGOs that are not used in transport. This is based on 75pc of the average reference prices from auctions the previous year to the production. The average of the EEX reference prices for the four 2025 auctions is €10.86/MWh, which would mean a floor of €8.14/MWh.
Argus assessed 2026 vintage uncertified RGGOs at €16/MWh on 30 October.
Only RGGOs from subsidy-supported biomethane, where the subsidy contract was signed after 9 November 2020, are auctioned on the EEX. Around 405GWh of biomethane RGGOs were auctioned in 2025.
