Summary of trading activity on TGE markets in July 2018 Print +

Volumes grow on the Commodity Forward Instruments Market for electricity

•    The volume of electricity traded at TGE in July totalled 14,792,450 MWh, and was higher by 71.1 per cent than in July 2017. On the Commodity Forward Instruments Market with Physical Delivery (CFIM), the volume grew by 90.0 per cent YoY reaching 12,769,997 MWh.
•    The volume of transactions concluded on natural gas markets in July totalled 12,024,366 MWh (of which 11,360,934 MWh on the CFIM), which despite YoY decline by 20.5 per cent is still the best monthly result in 2018.
•    The volume of electricity property rights traded in July totalled 5,079,703 MWh and was higher by 4.2 per cent than in July 2017.
•    The volume of property rights related to energy efficiency totalled 24,124 toe (of which 22,313 toe was constitute by the PMEF instrument), which means an increase by 25.6 per cent year-on-year.

Electricity

The volume of electricity traded at TGE in July totalled 14,792,450 MWh, and was higher by 71.1 per cent than in July 2017. On the Commodity Forward Instruments Market with Physical Delivery (CFIM), the volume grew by 90.0 per cent YoY reaching 12,769,997 MWh. On the spot market, on the other hand, the volume grew by 5.3 per cent YoY and totalled 2,022,453 MWh.

The weighted average price of the BASE contract on the Day Ahead Market in July was 234.76 PLN/MWh going up by 0.79 PLN/MWh above its June level. On the CFIM, the price of the contract with base load delivery in 2019 (BASE_Y-19) averaged 218.05 PLN/MWh, which means an increase by 11.40 PLN/MWh comparing to the quotations of this contract in June.

Natural gas

The volume of transactions concluded on natural gas markets in July totalled 12,024 366 MWh, which translates to a YoY decrease by 20.5 per cent. On the CFIM, the volume reached 11,360,934 MWh, which, despite a YoY decline by 19.8 per cent still is the best result this year. On the Day-Ahead and Intraday Market (DAM&IDM), the volume totalled 663,432 MWh, i.e. was 30.7 per cent lower than in July 2017. The spot market volume was constituted by 451,560 MWh traded on DAMg (decrease by 41.1 per cent YoY) and 211,872 MWh on IDMg (increase by 11.7 per cent YoY).

The weighted average price on DAM&IDMg in July increased to 102.97 PLN/MWh, which means that it was higher by 2.98 PLN/MWh than  in June 2018. On the CFIM, the weighted average price of a contract with delivery in 2019 (GAS_BASE_Y-19) was 100.68 PLN/MWh, i.e. higher by 3.42 PLN/MWh than in June.

Property Rights

The volume of electricity property rights traded in July totalled 5,079,703 MWh and was higher by 4.2 than in July 2017. The volume of trade in green certificates (PMOZE and PMOZE_A instruments on the Property Rights Market) amounted to 3,166,048 MWh, exceeding the June 2017 level by 58.4 per cent. The weighted average price for the PMOZE_A instrument traded during the PRM sessions was 90.15 PLN/MWh, i.e. was higher by 17.53 PLN/MWh than in June 2018.

The volume for property rights related to energy efficiency totalled 24,124 toe (of which 22,313 toe for the PMEF instrument), which means an increase by 25.6 per cent year-on-year. The weighted average price during market sessions for the PMEF instrument went down by 106.13 PLN/toe MoM, to the level of 539.24 PLN/toe.

Guarantees of Origin Register

In July 2018, the volume of transactions concluded in the Guarantees of Origin Register totalled 835,799 MWh, with a weighted average price of 0.42 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 June 2018 stood at 239.42 PLN/t, which represents an increase by 0.94 per cent comparing to May, while the price per 1 GJ of electric power went up by 1.58 per cent to 10.90 PLN/GJ. Meanwhile, the PSCMI 2 index which reflects prices for industrial and municipal CHP plants decreased by 1.92 per cent in the same period and was 297.23 PLN/t. The index value per unit of energy decreased by 1.61 per cent reaching 12.21 PLN/GJ.

The change of monthly indices as compared to June 2017 was 30.97 PLN/t for PSCMI 1 (increase by 14.86 per cent) and 73.69 PLN/t for PSCMI 2 (increase by 28.26 per cent). The price per 1 GJ increased YoY, respectively, by 1.60 PLN/GJ (17.20 per cent) and 2.69 PLN/GJ (28.26 per cent).

The quarterly PSCMI 1 index was 238.27 PLN/t and 10.81 PLN/GJ, which represents an increase by 4.28 and 3.15 per cent, respectively, comparing to the first quarter of this year. The quarterly PSCMI 2 index reached the level of 298.21 PLN/t and 12.24 PLN/GJ, which means a growth by 1.19 and 0.25 per cent, respectively, comparing to the last quarter.

The YoY comparison of quarterly indices shows that PSCMI 1 went up by 32.15 PLN/t (15.60 per cent) and by 1.68 PLN/GJ (18.38 per cent), while PSCMI 2 – by 63.83 PLN/t (27.23 per cent) and 2.38 PLN/GJ (24.13 per cent).

New participants

At the end of July 2018, 76 companies enjoyed the status of the member of the Commodity Market (CM). In July, two companies joined the membership of the Exchange.

As at the end of July 2018, the Certificate of Origin Register maintained by Towarowa Giełda Energii had 3,646 members with 11 of them joining in the month of July.

There are 392 entities registered as the members of the Guarantees of Origin Register.
 
Press release (pdf).

Kurier TGE

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