November 2016 at TGE – continued volume increase on the natural gas market
• Significant volume increase was achieved for natural gas, with the combined spot and forward markets growing, respectively, by 79.6 per cent MoM and 185.9 per cent YoY.
• Trade volume for electricity totalled 9,847,961 MWh in November, going down by 17.9 per cent against the October figure.
• Volume of electricity-related property rights trading totalled 3,368,887 MWh, going up by 22.6 per cent MoM.
The volume of transactions concluded in November 2016 on natural gas markets totalled 15,805,990 MWh and exceeded the last month's volume by 79.6 per cent, and the November 2015 volume by nearly three times (185.9 per cent).
On the Day Ahead and Intraday Market for gas (DAM&IDMg), the volume reached 3,545,586 MWh going up by roughly 50% MoM and nearly twice YoY. Meanwhile, the volume of gas trade on the CFIM totalled 12,260,404, increasing nearly two times MoM and over three times YoY.
November saw a repeated price increase on the natural gas markets. The weighted average price on the DAM&IDMg reached 84.06 PLN/MWh and was higher by 9.83 PLN/MWh than in the previous month. On the CFIM, nearly one third of the volume concerned yearly contracts with delivery in 2017 (GAS_BASE_Y-17), with its weighted average price reaching 80.76 PLN/MWh in November, i.e. 4.12 higher than in October.
In November, the total volume of electricity trade on TGE was 9,847,961, going down by 17.9 per cent comparing to the previous month, and by 60.5 per cent versus November 2015.
The volume of transactions on the Day-Ahead and Intraday Market amounted to 2,450,154 MWh, which represents a growth by 10.7 per cent MoM. Meanwhile, the volume on the Commodity Forward Instruments Market with Physical Delivery (CFIM) totalled 7,397,807 MWh going down by 24.3 per cent since October.
The monthly weighted average BASE price on the Day-Ahead Market reached 160.96 PLN/MWh and was lower by 4.98 PLN/MWh than in the previous month. On the CFIM, the lower volume for yearly contracts with baseload delivery in 2017 (BASE_Y-17) resulted in its market share being reduced to 47%. Weighted average price of this contract was 160.59 PLN/MWh, which means a MoM growth by 0.55 PLN/MWh. However, on the last but one day of the month, the clearing price of BASE_Y-17 fell down again below 160 PLN/MWh.
In November, the volume of trade in property rights for electricity on the PRM was 3,325,887 MWh, which means a growth by 28.7 per cent MoM, and a decline by 11.1 per cent YoY.
The weighted average price of green certificates on the PRM (PMOZE_A instrument) was 42.71 PLN/MWh, going up by 5.14 PLN/MWh since the previous month. This has been the first increase of the monthly price since February.
Similarly as in October, the price of PMOZE-BIO instrument, i.e. so called blue certificates, quoted during trading sessions continued to grow. This time, the MoM increase was 11.13 PLN/MWh, with the price reaching 298.58 PLN/MWh. The total volume for PMOZE-BIO was 26 591 MWh, with over a half of it (15,307 MWh) traded during market sessions.
The volume of trade in green certificates on the Commodity Forward Instruments Market totalled 43,000 MWh in November, against 164,000 MWh in the previous month.
For the property rights related to energy efficiency (PMEF instrument), the volume traded in November was 55,259 toe. This means a MoM increase by 50.5 per cent and over 6-times' increase YoY. The volume traded during market sessions was 45,259 toe with the monthly weighted average price going up MoM by 10.93 PLN/toe, to 969.22 PLN/toe.
Guarantees of Origin Register
In November, the volume of transactions concluded in the Guarantees of Origin Register totalled 12,822 MWh, with a weighted average price of 1.01 PLN/MWh.
At the end of November, 70 companies enjoyed the status of the member of the Commodity Market (CM).
As at 30 November, the Certificate of Origin Register maintained by the Towarowa Giełda Energii had 2,888 members. In November 2016, it was joined by 19 new members.
There are 245 entities registered as the members of the Guarantees of Origin Register.
Press release (pdf).