Summary of trading activity at TGE in March 2019 Print +

Summary of trading activity at TGE in March 2019
Another record-breaking month in electricity trading on the spot market

  • In March, the volume of electricity trade at TGE totalled 19,158,811 MWh, and was lower by 6.3 per cent than in March 2018.
  • The volume of transactions concluded on natural gas markets in March totalled 12,323,705 MWh, which translates to a YoY increase by 30.9 per cent.
  • The volume of electricity property rights traded in March totalled 5,466,351 MWh and was higher by 21.3 than in March 2018.
  • Transactions in the Register of Guarantees of Origin concluded in March amounted to 2,784,625 MWh, which is a 5 times increase year-on-year.


Electricity

In March, the volume of electricity trade at TGE totalled 19,158,811 MWh, and was lower by 6.3 per cent than March 2018. On the Commodity Forward Instruments Market with Physical Delivery (CFIM), the volume fell by 9.4 per cent YoY down to 16,205,169 MWh. The volume of trading on the spot market increased by 15.1 per cent YoY, to the highest level in the history of TGE, i.e. 2,953,642 MWh. The weighted average price of the BASE contract on the Day Ahead Market in March was 198.54 PLN/MWh going up by 14.67 PLN/MWh above its February level. On the CFIM, the weighted average price of the contract with base load delivery in 2020 (BASE_Y-20) fell down to 256.84 PLN/MWh, i.e. was lower by 5.31 PLN/MWh comparing to the quotations of this contract in February.

Natural gas

The volume of transactions concluded on natural gas markets in March totalled 12,323 705 MWh, which translates to a YoY increase by 30.9 per cent. The trading volume on the CFIM amounted to 10,160,516 MWh and was higher by 98.4 per cent year on year. On the Day-Ahead and Intraday Market the (DAM&IDM), the volume totalled 2,163,189, i.e. was 49.6 per cent lower than in March 2018. The spot market volume was constituted by 1,721,483 MWh traded on DAMg (decrease by 50.5 per cent YoY) and 441,706 MWh on IDMg (decrease by 45.4 per cent YoY).
The weighted average price on DAM&IDMg in March fell to 77.42 PLN/MWh, which means that it was lower by 9.18 PLN/MWh than in February. On the CFIM, the weighted average price of a Price contract with delivery in 2020 (GAS_BASE_Y-20) was 91.37 PLN/MWh, i.e. lower by 6.66 PLN/MWh than in February.

Property Rights

The volume of electricity property rights traded in March totalled 5,466,351 MWh and was lower by 21.3 than in March 2018. The volume of trade in green certificates (PMOZE and PMOZE_A instruments on the Property Rights Market) amounted to 1,797,131 MWh, falling below the March 2018 level by 33.0 per cent. The weighted average price for the PMOZE_A instrument traded during the PRM sessions was 96.38 PLN/MWh, i.e. was lower by 21.87 PLN/MWh than in February.

The volume for property rights related to energy efficiency totalled 21,620 toe (of which 13,644 toe for the PMEF instrument), which means a decrease by 17.4 per cent year-on-year. The weighted average price during market sessions for the PMEF instrument went down by 169.79 PLN/toe MoM, to the level of 153.20 PLN/toe.

Guarantees of Origin Register

In March 2019, the volume of transactions concluded in the Guarantees of Origin Register totalled 2,784,625 MWh (5-times increase YoY), for which the weighted average price amounted to 0.80 PLN/MWh (0.16 PLN/MWh less than in February).

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 February 2019 stood at 255.97 PLN/t, which represents an increase by 0.47 per cent comparing to January 2019, while the price per 1 GJ of energy, in the same period, went up by 0.24 per cent to 11.89 PLN/GJ. Meanwhile, the PSCMI 2 index which reflects prices for industrial and municipal CHP plants increased by 2.29 per cent in the same period reaching 307.81 PLN/t. The index value per unit of energy increased by 2.03 per cent reaching 12.87 PLN/GJ.

The change of monthly indices as compared to February 2018 was 27.75 PLN/t for PSCMI 1 (increase by 12.16 per cent) and 8.65 PLN/t for PSCMI 2 (increase by 2.89 per cent).
The price per 1 GJ increased YoY, respectively, by 1.41 PLN/GJ (PSCMI 1 growth by 13.46 per cent) and 0.47 PLN/GJ (PSCMI 2 growth by 3.76 per cent).

New participants

At the end of March, 76 companies enjoyed the status of the member of the Commodity Market (CM).
As at 31 March 2019, the Certificate of Origin Register maintained by Towarowa Giełda Energii had 3762 members.
Currently, there are 495 entities registered as the members of the Guarantees of Origin Register.

Press release (pdf).

Summary of trading activity at TGE in March 2019 (pdf).

Kurier TGE

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