This updated report summarizes the January 2026 auction data, including open bids during trading and final matched orders. These findings provide a baseline for understanding how the market is beginning to value granular certificates.
Key Observations from the January Auction:
- Measured Growth in Matched Trades: We observed a continued trend in the number of GCs traded. In January 2026, the volume of matched trades increased by 158% compared to the November auction.
- Seasonality in Trading: This month, GCs were sourced from generation between April and November 2025; however, 62% of all trades were for November 2025 generation
- Price Changes: Prices for Type 1 GCs eased in January, trading between $29.00 and $35.00. This is a shift from the range seen in November 2025.
For a month-by-month look at the evolving landscape of hourly CFE matching and settlement prices, fill out the form below.
