Summary results for May 2018 at TGE Print +

Summary results for May 2018 at TGE
Highest volume of trade in property rights in five years

•    In May, the volume of electricity traded at TGE totalled 18,237,203 MWh, and was higher by 108.0 per cent than in May 2017. On the CFIM, the volume grew by 142.0 per cent YoY reaching 16,136,647 MWh.

•    The volume of electricity property rights traded in May totalled 10,669,695 MWh, which is the highest value for over five years.  This means an increase by 31.2 per cent comparing to the result for May of last year.

Electricity

In May, the volume of electricity traded at TGE totalled 18,237,203 MWh, and was higher by 108.0 per cent than in May 2017. On the CFIM, the volume grew by 142.0 per cent YoY reaching 16,136,647 MWh. On the spot market, on the other hand, the volume was lower by 165 MWh(0.01% YoY ) and totalled 2,100,556 MWh.

In May, the weighted average price of the BASE contract on the Day Ahead Market was 230.63 PLN/MWh going up by 48.38 PLN/MWh above its April level. On the CFIM, the price of the contract with base load delivery in 2019 (BASE_Y-19) averaged 210.73 PLN/MWh, which means an increase by 11.34 PLN/MWh comparing to the quotations of this contract in April.

Natural gas

The volume of transactions concluded on natural gas markets in May totalled 10,157,299 MWh, which translates to a YoY increase by 46.9 per cent. On the Commodity Forward Instruments Market with Physical Delivery (CFIM), the volume reached 9,123,173 MWh of gas, which represents a YoY growth by 79.5 per cent. On the Day-Ahead and Intraday Market the (DAM&IDM), the volume totalled 1,034,126 MWh, i.e. was 43.5 per cent lower than in May 2017. The spot market volume was constituted by 743,568 MWh traded on DAMg (decrease by 47.1 per cent YoY) and 290,558 MWh on IDMg (decrease by 31.5 per cent YoY).

The weighted average price on DAM&IDMg in May went up to 97.65 PLN/MWh, which means that it was higher by 13.02 PLN/MWh than in April 2018. On the CFIM, the weighted average price of a contract with delivery in 2019 (GAS_BASE_Y-19) was 99.50 PLN/MWh, i.e. higher by 12.04 PLN/MWh than in April.

Property Rights

The volume of electricity property rights traded in May totalled 10,669,695 MWh, which has been the highest value for over five years (exactly since February 2013). The bulk of this result (6,060,097 MWh) was driven by the trade in red certificates (including 6,059,097 MWh for the PMEC-2017 instrument). Comparing to the result for May of last year, he volume growth for all property rights for electricity has increased by 31.2 per cent.

The volume of trade in green certificates (PMOZE and PMOZE_A instruments on the Property Rights Market) amounted to 3,352,320 MWh, falling below the May 2017 level by 8.0 per cent. The weighted average price for the PMOZE_A instrument traded during the PRM sessions was 77.67 PLN/MWh, i.e. was higher by 6.55 PLN/MWh than in April 2018.

The volume for property rights related to energy efficiency totalled 22,810 toe (of which 20,984 toe for the PMEF instrument), which means a decrease by 41.9 per cent year-on-year. The weighted average price during market sessions for the PMEF instrument went down by 3.84 PLN/toe MoM, to the level of 715.66 PLN/toe.

Guarantees of Origin Register

In May 2018, the volume of transactions concluded in the Guarantees of Origin Register totalled 428,155 MWh, with a weighted average price of 0.55 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 April 2018 stood at 238.22 PLN/t, which represents an increase by 3.24 per cent comparing to March, while the price per 1 GJ of electric power went up by 2.08 per cent to 10.79 PLN/GJ. Meanwhile, the PSCMI 2 index which reflects prices for industrial and municipal CHP plants decreased by 0.84 per cent in the same period and was 294.68 PLN/t. The index value per unit of energy decreased by 0.98 per cent reaching 12.11 PLN/GJ.

The change of monthly indices as compared to April 2017 was 38.96 PLN/t for PSCMI 1 (increase by 19.55 per cent) and 50.95 PLN/t for PSCMI 2 (increase by 20.90 per cent).

The price per 1 GJ increased YoY, respectively, by 1.95 PLN/GJ (22.06 per cent) and 2.02 PLN/GJ (20.02 per cent).

New participants

At the end of May 2018, 75 companies enjoyed the status of the member of the Commodity Market (CM).

As at 31 May 2018, the Certificate of Origin Register maintained by Towarowa Giełda Energii had 3,585 members with 23 of them joining in the month of May.

There are 370 entities registered as the members of the Guarantees of Origin Register.

Press release (pdf).

Kurier TGE

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