Best year ever for TGE on the natural gas market
The summary of the year 2016 on the TGE's Electricity, Gas and Property Rights Markets
• In 2016, the volume of natural gas trade totalled 114,468,886 MWh, which is the best annual result ever in the history of TGE. The spot market volume of 24,595,118 MWh played a key role.
• The annual volume for the electricity spot market reached the highest ever level at 27,627,454 MWh, exceeding the 2015 volume by 9.9 per cent.
• The Property Rights Market also saw record-breaking volume levels with the annual volume for the energy efficiency property rights (PMEF instrument) reaching 314,751 toe, nearly four times more than one year before.
The volume of transactions concluded on natural gas markets in 2016 totalled 114,468,886 MWh, which means a YoY increase by 7.1%. On the Day Ahead and Intraday Market for gas (DAM&IDMg) the volume was 24,595,118 MWh going up 76.6% against the 2015 level. On the DAMg, the volume was 19,633,932 MWh (growth by 87.4%), and on the IDMg 4,961,186 MWh (growth by 43.9%). Meanwhile, the CFIM volume decreased by 3.3% to 89,873,768 MWh.
In December the natural gas volume totalled 12,754,263 MWh, of which 9,258,581 MWh was accounted for by the CFIM.
In 2016, the weighted average price on the DAM&IDMg was 71.16 PLN/MWh, i.e. was lower by 16.30 PLN/MWh than in 2015. The December price went up MoM by 0.76 PLN/MWh reaching 84.82 PLN/MWh. The CFIM saw more significant price decrease with the weighted average price of the contract with delivery in 2017 (GAS_BASE_Y-17) going down to 74.50 PLN/MWh in 2016, i.e. by 20.85 PLN/MWh below the corresponding price form the quotations of the GAS_BASE_Y-16 contract in the year 2015. In December, the corresponding price of GAS_BASE_Y-17 was 81.12 PLN/MWh, i.e. was higher by 0.36 PLN/MWh than in November.
In 2016, the volume of electricity trade at TGE totalled 126,652,509 MWh, which means a decrease by 32.2 per cent comparing to the 2015 level. On the spot market, the volume went up by 9.9% reaching 27,627,454 MWh. On the Day Ahead Market (DAM), the volume was 27,556,095 MWh, also going up by 9.9%, and on the Intraday Market it reached 71,359 MWh, up by 12.9%. A decrease by 38.7% was observed on the Commodity Forward Instruments Market with Physical Delivery (CFIM) where the volume totalled 99,025,055 MWh.
In December the electricity volume totalled 8,812,663 MWh, of which 6,186,153 MWh was accounted for by the CFIM.
In 2016, the weighted average price of the BASE contract on the Day Ahead Market was 161.74 PLN/MWh going up by 6.08 PLN/MWh above the 2015 level. In December, the price of this contract was 154.89 PLN/MWh, which means a MoM decrease by 6.07 PLN/MWh. On the CFIM, the price of the contract with base load delivery in 2017 (BASE_Y-17) averaged 159.26 PLN/MWh in 2016, which means a drop by 5.11 PLN/MWh comparing to the price from the quotations of the BASE_Y-16 contract in the year 2015. In December, the price of BASE_Y-17 dropped down against the November level by 0.15 PLN/MWh, to 160.44 PLN/MWh.
The volume of electricity property rights traded in the last year totalled 50,657,433 MWh. This means a decrease by 14.0 per cent comparing to the 2015 result. In December, the volume was 4,022,992 MWh.
The 2016 volume for green certificates alone (PMOZE and PMOZE_A instruments on the Property Rights Market and instruments traded on the CFIM) stood at 24,325,780 MWh lagging behind the 2015 level by 8.7%. The volume of green certificates contracted during the PRM sessions totalled 7,383,876 MWh (YoY increase by 13.1%), and for new type of instruments traded on the PRM it amounted to 483,000 MWh.
In 2016, the weighted average price for the PMOZE_A instrument traded during the PRM sessions was 73.63 PLN/MWh, i.e. was lower by 49.97 PLN/MWh comparing to the 2015 level. In December, the price dropped down against the November level by 3.94 PLN/MWh, to 38.77 PLN/MWh.
The weighted average session price for the PMOZE-BIO instrument quoted since September stood at 295.52 PLN/MWh in 2016. In December, the monthly price went up by 1.58 PLN/MWh reaching 300.16 PLN/MWh. In December, the volume of trade for blue certificates which correspond to this instrument reached 46,786 MWh, going up by as much as 75.9% month-on-month (from 26,591 MWh in November 2016).
For the property rights related to energy efficiency (PMEF instrument), the volume traded in 2016 was 314,751 toe. This means the best result ever in the history of quotations at TGE and nearly four-times YoY growth (by 282.3%), The volume traded during market sessions was 290,372 toe with the annual weighted average session price going up YoY by 13.91 PLN/toe, to 977.35 PLN/toe. In December, the price went up against the November level by 19.21 PLN/MWh, to 988.43 PLN/MWh.
Guarantees of Origin Register
In December 2016, the volume of transactions concluded in the Guarantees of Origin Register totalled 208,340 MWh, with a weighted average price of 0.62 PLN/MWh. This has been the highest monthly volume for guarantees of origin traded at TGE achieved since November 2015. For the entire year 2016, the volume of transactions totalled 602,500 MWh with the weighted average price of 0.40 PLN/MWh.
Currently 71 companies are the members of the Commodity Market (CM).
The Certificate of Origin Register maintained by TGE has 2970 members. In 2016, their number grew by as much as 431.
Press release (pdf)