Market Report | December 2023

“The REGO market remains extremely volatile.”

Clare Haigh, Head of Environmental Markets at C-Zero
Clare Haigh

RGGO prices are still in a slow decline as demand from Europe dries up 

Clare Haigh


  • Unfortunately, there was another month of thin demand for RGGOs, with only a small number of enquiries from European buyers looking for the certs to be transferred to DENA accounts.
  • Waste and Crop certificate prices continue their slow decline to the psychological barrier of £20/MWh, with some producers holding out for more, but most are just looking for a bidmarket levels. Given recent market volatility, this could serve as a hedge for producers for at least some of their forward volumes.
  • Interest in biomethane remains high, with significant corporations still interested in biomethane GPAs with the RGGOs attached. Traditionally, the RGGOs have been uncoupled from the GPAs, but this could change with many producers out of contract on their RGGOs.
  • C-Zero attended EMEX (UK Net- & Energy Management Expo) in London last month. It was encouraging to note that the larger Biomethane producers were prominent and their stands very busy.