Three times increase of the volume of trading in electricity property rights since last year
• On the Commodity Forward Instruments Market, the volume of trade in electricity in January reached 8,333,398 MWh, which represents a growth by 66.8 per cent comparing to January of the previous year.
• The volume of trade on the Intraday Market for gas in January totalled 749,968 MWh, which means a YoY increase by 26.2 per cent.
• The volume for property rights related to energy efficiency reached 49,174 toe, growing over three times year-on-year.
Natural gas
The volume of transactions concluded on natural gas markets in January totalled 7,142,398 MWh, which translates to a YoY decrease by 45.7 per cent. On the Commodity Forward Instruments Market with Physical Delivery (CFIM), the volume reached 4,758,030 MWh of gas, which represents a decrease by 45.3 per cent. On the Day-Ahead and Intraday Market (DAM&IDM) the volume totalled 2,637,592 MWh, i.e. was 46.6 per cent lower than in the record-breaking January 2017. The spot market volume was constituted by 1,634,400 MWh traded on DAMg (decrease by 57.8 per cent YoY) and 749,968 MWh on IDMg (increase by 26.2 per cent YoY).
The weighted-average price on the DAM&IDM fell in January to 85.31 PLN/MWh, i.e. by 8.29 PLN/MWh against December 2017. On the CFIM, the weighted average price of a contract with delivery in 2019 (GAS_BASE_Y-19) was 85.06 PLN/MWh, i.e. 3.05 PLN/MWh below the December level.
Electricity
In January, the volume of electricity trade at TGE totalled 10,896,454 MWh, and was lower by 44.5 per cent than in January 2017. On the CFIM, the volume grew by 66.8 per cent YoY reaching 8,333,398 MWh. Meanwhile, the sport market fell by 0.7 per cent on a year-on-year basis, to 056 MWh.
In January, the weighted average price of the BASE contract on the Day Ahead Market was 163.95 PLN/MWh going up by 17.43 PLN/MWh above its level in December 2017. On the CFIM, the price of the contract with base load delivery in 2019 (BASE_Y-19) averaged 179.48 PLN/MWh, which means a drop by 2.96 PLN/MWh comparing to the quotations of this contract in December.
Property Rights
The volume of electricity property rights traded in January totalled 2,973,426 MWh. This means a decrease by 11.2 per cent comparing to the result for January of last year.
The volume of trade in green certificates (PMOZE and PMOZE_A instruments on the Property Rights Market) amounted to 1,748,099 MWh, falling below the January 2017 level by 2.5 per cent. The weighted average price for the PMOZE_A instrument traded during the PRM sessions was 49.05 PLN/MWh, i.e. was higher by 4.11 PLN/MWh than in December 2017.
The January volume for blue certificates totalled 48,420 MWh going down by 22.3 per cent since January 2017. The bulk of it – 32,861 MWh – was generated during market sessions where the weighted average price grew by 0.38 PLN/MWh, to the level of 318.33 PLN/MWh.
The volume for property rights related to energy efficiency totalled 49,174 toe (of which 46,345 toe for the PMEF instrument), which means an over three times increase YoY (by 221.3 per cent). The weighted average price during market sessions for the PMEF instrument went up by 172.47 PLN/toe MoM, to the level of 558.03 PLN/toe.
Guarantees of Origin Register
In January 2018, the volume of transactions concluded in the Guarantees of Origin Register totalled 354,517 MWh, with a weighted average price of 0.36 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 December 2017 stood at 212.66 PLN/t, which represents an increase by 0.59 per cent comparing to November 2017, while the price per 1 GJ of electric power went up by 0.73 per cent to 9.64 PLN/GJ. Meanwhile, the PSCMI 2 index which reflects prices for industrial and municipal CHP plants increased by 6.69 per cent in the same period and was 273.82 PLN/t. The index value per unit of energy increased by 6.50 per cent reaching 11.31 PLN/GJ.
The change of monthly indices as compared to December 2016 was 22.17 PLN/t for PSCMI 1 (increase by 11.64 per cent) and 60.08 PLN/t for PSCMI 2 (increase by 28.11 per cent). The price per 1 GJ increased YoY, respectively, by 1.03 PLN/GJ (11.96 per cent) and 2.51 PLN/GJ (28.52 per cent).
The quarterly PSCMI 1 index was 210.95 PLN/t and 9.54 PLN/GJ, which represents an increase by 2.92 and 2.58 per cent, respectively, comparing to the third quarter. The quarterly PSCMI 2 index reached the level of 259.50 PLN/t and 10.70 PLN/GJ, which means a growth by 8.99 and 6.15 per cent, respectively, comparing to the third quarter.
The YoY comparison to quarterly indices shows that the PSCMI 1 went up by 21.10 PLN/t (11.11 per cent) and by 0.96 PLN/GJ (11.19 per cent), while PSCMI 2 – by 51.58 PLN/t (24.81 per cent) and 2.04 PLN/GJ (23.56 per cent).
The annual PSCMI 1 index reached 205.69 PLN/t and 9.26 PLN/GJ, which represents an increase 5.26 and 5.35 per cent, respectively, comparing to the year 2016. The annual PSCMI 2 index expressed in PLN/t went up by 22.23 per cent comparing to the previous year reaching the value of 240.72. Meanwhile the value of this index expressed on per GJ basis went up by 20.26 per cent, to 10.03.
New participants
At the end of January 2018, 72 companies enjoyed the status of the member of the Commodity Market (CM).
As at 31 January 2018, the Certificate of Origin Register maintained by Towarowa Giełda Energii had 3,466 members with 22 of them joining in the month of January.
There are 331 entities registered as the members of the Guarantees of Origin Register.
Press release (pdf).