November 2017 on TGE’s markets Print +

November 2017 on TGE’s markets
Another month of high turnover on the Commodity Futures Market

•    On the Commodity Forward Instruments Market the trade volume for natural gas amounted in November 2017 to 12 522 424 MWh, which corresponds to a yoy increase by 2.1 % in relation to the same period in the previous year.  
•    The trade volume for electricity in November increased yoy on the Commodity Forward Instruments Market by 16.3 % and reached 8 603 142 MWh.
•    The total trade volume for property rights for electricity amounted in November 2017 to 3 820 274 MWh, which corresponds to a 13.4% increase in relation to last year’s November.

Natural gas

The volume of transactions concluded on natural gas markets in November totalled 14,701,241 MWh, which translates to a yoy decrease by 7.0 %. On the Commodity Forward Instruments Market (CFIM), the trade volume reached 12 522 424 MWh of gas, which represents a yoy growth by 2.1 %. The volume on the Day-Ahead and Intraday Market (DAM&IDMg) totalled 2,178,217 MWh, being by 38.5 % lower than in November 2016. The spot market consisted of 1,760,496 MWh traded on Day-Ahead Market (decrease by 40.1 per cent yoy) and 418 321 MWh on gas Intraday Market (decrease by 30.8 per cent yoy).

The weighted average price on DAM&IDMg increased in November to 91.96 PLN/MWh, that is by 11.67 PLN/MWh in comparison to October 2017. On the Commodity Forward Instruments Market, the average contract price with delivery in 2018 (GAS_BASE_Y-18) amounted to 86.95 PLN/MWh, that is by 2.26 PLN/MWh more than in the previous month.

Electricity

The trade volume for electricity totalled in November 10,711,057 MWh, and was higher by 8.8 per cent than in November 2016. On the CFIM, there was an increase by 16.3 % yoy with the volume of 8,603,142 MWh. On the spot market, the volume dropped yoy by 14.0 per cent to 2,107,915 MWh.

In November, the weighted average price of the BASE contract on the Day Ahead Market was 171.82 PLN/MWh - by 1.95 PLN/MWh lower than in October 2017. On the CFIM, the weighted average price of the annual contract with base load delivery in 2018 (BASE_Y-18) averaged 174.20 PLN/MWh, which means an increase by 1.56 PLN/MWh comparing to the quotations of this contract in October.
 
Property rights

The total trade volume for property rights for electricity amounted to 3,820,274 MWh in November. It means an increase by 13.4 per cent in comparison to November 2016.

The volume of trade in green certificates (PMOZE and PMOZE_A instruments on the Property Rights Market and instruments traded on the CFIM) amounted to 2,887,763 MWh, higher by 85.3 per cent than in November 2016. The weighted average price for PMOZE_A instrument traded during the PRM sessions was 41.80 PLN/MWh, i.e. was higher by 2.30 PLN/MWh than in October 2017.

The November volume for blue certificates reached 51,778 MWh – by 94.7 per cent higher than in November 2016. The majority – 34,109 MWh - constituted the session turnover with weighted average price increasing by 3.04 PLN/MWh MoM, to 316.48 PLN/MWh.

The volume for property rights related to energy efficiency totalled 50,677 toe (of which 48 026 toe for the PMEF instrument), meaning a yoy increase by 8.3 per cent. The weighted average price during market sessions for the PMEF instrument decreased by 27.14 PLN/toe, to the level of 469.13 PLN/toe.

Guarantees of Origin Register

In November 2017, the volume of transactions concluded in the Guarantees of Origin Register totalled w 94,867 MWh, with a weighted average price of 0.63 PLN/MWh.

Steam coal

The index of steam coal prices according to ARP data, loco mine, for professional and industrial energy sector PSCMI 1 at the end of October amounted to 208.75 PLN/t, which means an increase by 1.25% in comparison to September 2017, while  the price for 1 GJ of energy increased by 0.54%, to 9.45 PLN/GJ. The PSCMI 2 index, reflecting prices for industrial and public utility heating plants increased by 6.68% in the same period and amounts to 253.53 PLN/t. After translation into energy unit, the index increased by 3.89%, reaching the value of 10.03 PLN/GJ.

The change of the monthly indices in comparison to October 2016 was 13.19 PLN/t for PSCMI 1 (increase by 10%) and 44.78 PLN/t, or 24.95%, for PSCMI 2. In reference to 1 GJ, the price increased yoy by 0.88 PLN/GJ (10.27%) and 1.88 PLN/GJ (22.01%).

New participants

At the end of November, 72 companies enjoyed the status of the member of the Commodity Market (CM). As of 30 November 2017, the Certificate of Origin Register maintained by Towarowa Giełda Energii had 3,421 members, with 35 of them joining in the month of November. There are 326 entities registered as the members of the Guarantees of Origin Register.

Press release (pdf).

Kurier TGE

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