Summary of trading activity at TGE in February 2026

04-03-2026
  • In February 2026, the electricity forward market saw a significant rise in activity, with trading volumes reaching over 9.6 TWh, up 140.4 per cent on the previous month and 136.6 per cent above the level one year earlier. This was the highest monthly trading volume in this market since October 2024.
  • The volume of electricity traded on the spot market rose by 4.6 per cent y/y in February to 4,295,761 MWh. This marks the highest y/y volume growth since December 2023. February also recorded the highest average daily trading volume in this market (153,420 MWh) since December 2023, when it peaked at 190,573 MWh.
  • Gas trading volumes remained high, resulting in the best-ever start of the year for TGE in this regard. February was a record month for gas volumes traded on the Day-Ahead Market, which exceeded January levels by 16.3 per cent, reaching 1,080,893 MWh (a year-on-year increase of 106.6 per cent).

Electricity 

In February 2026, the volume of electricity traded at TGE totalled 13,898,386 MWh, up 70.2 per cent on February 2025. The volume-weighted average price in the Day-Ahead Market was 502.72 PLN/MWh, down 160.75 PLN/MWh on January. On the EFM, the weighted average price of a yearly contract with base load delivery in 2027 (BASE_Y-27) was 422.45 PLN/MWh in February 2026, down 18.87 PLN/MWh on the corresponding price of this contract in the preceding month.

Natural gas

The volume of transactions on the natural gas market in February 2026 totalled 21,957,417 MWh, up 55.2 per cent y/y. The volume-weighted average price on the DAM&IDMg was 178.86 PLN/MWh, 5.33 PLN/MWh below the previous month’s level. Meanwhile, on the GFM, the weighted average price of a contract with delivery in 2027 (GAS_BASE_Y-27) amounted to 137.14 PLN/MWh in February, up 5.27 PLN/MWh from the corresponding price in January 2026.

Property rights

The trading volume of property rights for electricity generated in RES totalled 1,157,378 MWh in February 2026, down 30.5 per cent y/y. The volume-weighted average price of the PMOZE_A instrument traded during the PRM sessions was 25.42 PLN/MWh, 0.85 PLN/MWh lower than in January 2026.

The trading volume of property rights for energy efficiency rose by 60.5 per cent y/y to 18,177 toe. The weighted average session price of the PMEF_F instrument was 2,327.16 PLN/toe, down 0.16 PLN/toe from January 2026.

Guarantees of origin

The volume of guarantees of origin of electricity generated in RES and traded in February 2026 totalled 4,976,771 MWh, down 0.8 per cent y/y. The weighted average price of a guarantee of origin of electricity generated in RES was 5.39 PLN/MWh, 0.40 PLN/MWh higher than in the previous month.

Agri-food commodities

No transactions were made on the Exchange Agricultural Market in February 2026.

Press release (pdf)