Summary results for March 2018 at TGE Print +

Summary results for March 2018 at TGE

The highest volume of electricity trading since 2015

• On the Commodity Forward Instruments Market, the volume of trade in electricity in March reached 17,891,673 MWh, which represents an over three times’ growth (by 221.0 per cent) comparing to March in the previous year. It was the best month in terms of electricity trading volume on TGE since November 2015.
• On the Day-Ahead and Intraday Market, the volume totalled 4,290,592 MWh, i.e. was 87.5 per cent higher than in March 2017.
• The volume for property rights related to energy efficiency reached 26,172 toe, which represents a growth by 79.4 per cent year-on-year.

Electricity

In March, the volume of electricity trade at TGE totalled 20,457,571 MWh, and was higher by 164.4 per cent than in March 2017. On the CFIM, the volume grew by 221.0 per cent YoY reaching 17,891,673 MWh. This is the highest volume on these markets since November 2015. On the spot market, on the other hand, the volume was higher by 18.5% YoY and the highest since December 2016, reaching 2,565,898 MWh.

In March, the weighted average price of the BASE contract on the Day Ahead Market was 203.68 PLN/MWh going up by 8.29 PLN/MWh above its February level. On the CFIM, the price of the contract with base load delivery in 2019 (BASE_Y-19) averaged 190.33 PLN/MWh, which means an increase by 12.55 PLN/MWh comparing to the quotations of this contract in February.

Natural gas

The volume of transactions concluded on natural gas markets in March totalled 9,411,773 MWh, which translates to a YoY increase by 28.1 per cent. On the Commodity Forward Instruments Market with Physical Delivery (CFIM), the volume reached 5,121,181 MWh of gas, which represents a YoY growth by 1.2 per cent. On the Day-Ahead and Intraday Market the (DAM&IDMg), the volume totalled 4,290,592 MWh, i.e. was 87.5 per cent higher than in March 2017. The spot market volume was constituted by 3,481,176 MWh traded on DAMg (increase by 90.3 per cent YoY) and 809,416 MWh on IDMg (increase by 76.5 per cent YoY). It was by far the best quarter in the history of trading on the Intraday Gas Market, which consisted of the three best months ever, in terms of volume, in the history of trading on that market.

The weighted average price on DAM&IDMg in March went up to 118.55 PLN/MWh, which means that it was higher by 15.97 PLN/MWh than in February 2018. A higher monthly price was only seen on the natural gas spot market 5 years ago, in March 2013. On the CFIM, the weighted average price of a contract with delivery in 2019 (GAS_BASE_Y-19) was 82.62 PLN/MWh, i.e. higher by 1.46 PLN/MWh than in February.

Property Rights

The volume of electricity property rights traded in March totalled 6,943,115 MWh. This means a decrease by 14.5 per cent comparing to the result for March of last year.

The volume of trade in green certificates (PMOZE and PMOZE_A instruments on the Property Rights Market) amounted to 2,683,658 MWh, exceeding the March 2017 level by 6.0 per cent. The weighted average price for the PMOZE_A instrument traded during the PRM sessions was 71.85 PLN/MWh, i.e. was higher by 9.89 PLN/MWh than in February 2018.

The volume for property rights related to energy efficiency totalled 26,172 toe (of which 17,489 toe for the PMEF instrument), which means an increase by 79.4 per cent year-on-year. The weighted average price during market sessions for the PMEF instrument went down by 158.51 PLN/toe MoM, to the level of 674.99 PLN/toe.

Guarantees of Origin Register

In March 2018, the volume of transactions concluded in the Guarantees of Origin Register totalled 479,061 MWh, with a weighted average price of 0.47 PLN/MWh.

Steam coal

The steam coal price index PSCMI 1, based on the ex-works pricing data for supplied by the Industrial Development Agency (ARP) for utility and industrial power generation sector at the end of February 2018 stood at 228.22 PLN/t, which represents an increase by 0.64 per cent comparing to January, while the price per 1 GJ of electric power went up by 0.67 per cent to 10.48 PLN/GJ. Meanwhile, the PSCMI 2 index which reflects prices for industrial and municipal CHP plants increased by 3.50 per cent in the same period and was 299.16 PLN/t. The index value per unit of energy increased by 2.99 per cent reaching 12.40 PLN/GJ.

The change of monthly indices as compared to February 2017 was 29.62 PLN/t for PSCMI 1 (increase by 14.91 per cent) and 71.69 PLN/t for PSCMI 2 (increase by 31.52 per cent). 
The price per 1 GJ increased YoY, respectively, by 1.55 PLN/GJ (17.36 per cent) and 2.80 PLN/GJ (29.17 per cent).

New participants

At the end of March, 73 companies enjoyed the status of the member of the Commodity Market (CM).

As at 31 March 2018, the Certificate of Origin Register maintained by Towarowa Giełda Energii had 3,541 members with 46 of them joining in the month of March.

There are 360 entities registered as the members of the Guarantees of Origin Register.

Press Release (pdf)

Kurier TGE

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