Summary of trading activity at TGE in September 2025

03-10-2025

In September 2025, the volume of trading in property rights for electricity generated from RES reached nearly 1.9 TWh, an increase by 93.0 per cent compared with August this year and by 27.8 per cent compared with September last year. This is the highest monthly result since May 2024, when the volume totalled 2.3 TWh.

Electricity 
In September 2025, the volume of electricity traded at TGE totalled 10,464,852 MWh, going down by 
22.5 per cent compared with September 2024. The volume-weighted average price on the Day-Ahead Market was 473.42 PLN/MWh, going up by 86.15 PLN/MWh compared with the month of August. On the EFM, the weighted average price of a yearly contract with base load delivery in 2026 (BASE_Y-26) amounted to 429.18 PLN/MWh, up by 10.23 PLN/MWh over the corresponding price of such contract in the preceding month.

Natural gas
The volume of transactions concluded on the natural gas market in September 2025 totalled 12,535,777 MWh, a decrease by 16.3 per cent y/y. The volume-weighted average price on the DAM&IDMg was 155.98 PLN/MWh, 0.44 PLN/MWh over the previous month’s level. Meanwhile, on the GFM, the weighted average price of a contract with delivery in 2026 (GAS_BASE_Y-26) fell to 158.75 PLN/MWh in September, 1.77 PLN/MWh below the corresponding price of this contract in August 2025.

Property rights
The trading volume of property rights for electricity generated in RES totalled 1,875,819 MWh in September 2025, up by 27.8 per cent y/y. The volume-weighted average price of the PMOZE_A instrument traded during the PRM sessions was 23.23 PLN/MWh and was lower by 5.83 PLN/MWh than in August 2025.
The volume of trading in property rights for energy efficiency went up by 110.3 per cent y/y, to 15,485 toe. The weighted average session price of the PMEF_F instrument was 2,226.03 PLN/toe dropping by 
36.18 PLN/toe as compared with August.

Guarantees of origin
The volume of guarantees of origin for electricity generated in RES and traded in September 2025 totalled 5,394,380 MWh increasing by 29.6 per cent y/y. The weighted average price of a guarantee of electricity generated in RES was 4.27 PLN/MWh, and was higher by 0.69 PLN/MWh than in the previous month.

Agri-food commodities
No transactions were made on the Exchange Agricultural Market in September 2025.

Press release (pdf)