Guigues V was the son of Guigues IV, Count of Albon (1133-1142), and Margaret of Mâconsultant He inherited when he was considered too young to rule on his own and so his mother controlled the regency until 1153. In that year Guigues took the reins of government and immediately set about to avenge his father, who had been killed in a surprise attack by the Count of Savoy, Humbert III, during the siege of Montmélian eleven years earlier.
He was the first to take the title Dauphin du Viennois. Guigues V besieged Montmélian a second time, but was driven off by Humbert"s relief force. Two years later, on 13 January 1155, Guigues was in Rivoli, near Turin, to recognise the suzerainty of the Holy Roman Emperor, Frederick Barbarossa, for his lands.
The emperor in return confirmed the count of Albon in the possession of certain territories his ancestors had acquired through litigation, and granted him a mint at Râme in the Embrunais and the right to coinage in Cézanne.
Guigues died without male heirs at Vizille in 1162. He left a daughter, Beatrice, who inherited his lands and titles.
However, Usseglio, in I Marchesi di Monferrato in Italia ed in Oriente durante i secoli XII e XIII (Casale Monferrato, 1926, volume 1, pp 167–69) has shown that Chorier had misdated a charter of Frederick II for one of Frederick I: the Beatrice of Montferrat in question was the daughter of William VI of Montferrat, and widow of Guiges V"s grandson Guigues VI of Viennois.
