Summary of trading activity at TGE in May 2025

04-06-2025
  • In May, the volume of gas spot trading reached nearly 3 TWh, as much as a threefold increase y/y (by 205.5 per cent). Thereby, the monthly volume in this market exceeded the level of 2 TWh for the first time in a non-winter month other than April.
  • The volume of trading in futures gas contracts with physical delivery remained at an above-average level in May (over 15 TWh, a year-on-year increase of 73.4 per cent) and was the highest May result in the history of this market. 

Electricity 

In May 2025, the volume of electricity traded at TGE totalled 9,432,711 MWh, which represents an increase by 11.2 per cent comparing to May 2024. The volume-weighted average price on the Day-Ahead Market was 416.28 PLN/MWh, going up by 59.05 PLN/MWh comparing to the month of April. On the EFM, the weighted average price of a yearly contract with base load delivery in 2026 (BASE_Y-26) amounted to 412.75 PLN/MWh, up by 2.84 PLN/MWh over the corresponding price of such contract in the preceding month.

Natural gas

The volume of transactions concluded on the natural gas market in May 2025 totalled 18,084,724 MWh, which means an increase by 86.8 per cent y/y. The volume-weighted average price on the DAM&IDMg was 166.99 PLN/MWh, 1.84 PLN/MWh over the previous month’s level. Meanwhile, on the GFM, the weighted average price of a contract with delivery in 2026 (GAS_BASE_Y-26) amounted to 171.38 PLN/MWh in May, up by 8.24 PLN/MWh over the corresponding price of this contract in April 2025.

Property rights

The trading volume of property rights for electricity generated in RES totalled 1,807,726 MWh in May, going down by 22.7 per cent y/y. The volume-weighted average price of the PMOZE_A instrument traded during the PRM sessions was 28.49 PLN/MWh and was lower by 4.95 PLN/MWh than in April 2025.

The volume of trading in property rights for energy efficiency fell by 21.0 per cent y/y, to 10,320 toe. The weighted average session price of the PMEF_F instrument was 2,327.39 PLN/toe going down by 16.14 PLN/toe as compared to April.

Guarantees of origin

The volume of guarantees of origin for electricity generated in RES and traded in May 2025 totalled 2,426,515 MWh falling by 49.8 per cent y/y. The weighted average price of a guarantee of electricity generated in RES was 3.78 PLN/MWh, and was lower by 2.61 PLN/MWh than in the previous month.

Agri-food commodities

No transactions were made on the Exchange Agricultural Market in May 2025.

Press release (pdf)