Warsaw, October 3rd, 2017
Summary of September 2017 at TGE
Increase in trade in commodities
Press release
Natural gas
The total volume for transactions concluded on natural gas markets in September 2017 amounted to 13 902 226 MWh, which means that it increased more than twice YOY (by 146.8 %). On the commodity forward instruments market [CFIM] the trading volume was 12 498 458 MWh of gas, which corresponds to a YOY increase of 168.9 %. On the gas day ahead and intraday market, the volume amounted to 1 403 768 MWh, which is 42.4 % more than in September 2016. The spot market volume included 1 113 912 MWh on the gas day ahead market (YOY increase by 53,4 %) and 289 856 MWh on the gas intraday market (YOY increase by 11.7 %).
Weighted average price on the gas day ahead and intraday market increased to PLN 79.62 /MWh, that is by PLN 7.09/MWh vs August 2017. On the commodities forward market, a weighted average price of a contract with delivery in 2018 (GAS_BASE_Y-18) was PLN 84.42 /MWh, that is by PLN 3.85 /MWh more than in the previous month.
Electricity
The electricity trading volume at TGE amounted in September to 12 514 865 MWh and was 6.3 % higher than in September 2016. On the commodities forward market a 10.6 YOY increase occurred for the volume of 10 702 885 MWh. As for the spot market, the volume decreased YOY by 13,5 proc. to 1 811 980 MWh.
The weighted average price of the BASE contract on the Day Ahead Market amounted in September to PLN 172.39 /MWh – and was higher by PLN 8.92/MWh than in August 2017. As for the Commodity Forward Instruments Market (CFIM), the weighted average price of the contract with base load delivery in 2018 (BASE_Y-18) averaged PLN 166.53 /MWh, which corresponds to an increase by PLN 2.81/MWh vs the quotations of this contract in August. The monthly price of this type of contract has not been that high since December 2015.
Property rights
The total trade volume for property rights for electricity amounted in September to 3 909 072 MWh, which corresponds to an increase by 17.1% in comparison to September 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 2 203 268 MWh, that is higher by 1.5 % than in September 2016. The weighted average price during the PRM sessions for the PMOZE_A instrument was PLN 52.70 /MWh, which corresponds to an increase by PLN 13.75/MWh vs September 2016.
The September volume for blue certificates reached 64 273 MWh. The majority – 44 319 MWh – constituted the session turnover with weighted average price increasing MoM by PLN 5.13 /MWh, to PLN 311,58/MWh.
The volume for property rights related to energy efficiency totalled 60 313 toe (including 59 889 toe for the PMEF instrument), which corresponds to YOY increase by 3.2%. The weighted average price during market sessions for the PMEF instrument dropped MoM by PLN 191.43/toe, down to PLN 523.42/toe.
Guarantees of Origin Register
In September2017 the volume of transactions concluded in the Guarantees of Origin Register totalled 42 682 MWh, with a weighted average price of PLN 0,49/MWh.
Power coal price indices
At the end of August, the power coal price index according to ARP data ex mine for professional and industrial energy - PSCMI 1- amounted to PLN 200.76 PLN/ton, which corresponds to a decrease by 3.66% in comparison to July 2017, while the price for one GJ of energy dropped by 1.18%, and reached PLN 9.22. As for PSCMI 2 index, which reflects the prices for industrial and municipal heating plants, it increased by 5.78% in the same period and currently amounts to PLN 244.66 PLN/ton. Per energy unit, this index increased by 5.39%, and reached PLN 10.36/GJ.
In comparison to August 2016, changes in monthly indices amounted to PLN 11.98 /ton for PSCMI 1 (increase by 6.35%) and PLN 52.61 /ton, or 27.40%, for PSCMI 2. With respect to 1 GJ, the price increased YOY respectively by PLN 0.70 (8.22%) and PLN 2.26 (27.90%).
According to ARE data, the price index for power coal consumed for electricity production amounted in Q2 2017 to PLN 195.79 /ton and to PLN 9.36 /GJ, which corresponds to a decrease respectively by 1.73% and 2.03% in comparison to Q1. The index dropped YOY by 1.02% expressed in PLN/ton, while in PLN/GJ it increased by 0.21%.
New participants
At the end of September 2017, 70 companies enjoyed the status of the member of the Commodity Market (CM).
As at 30 September 2017, the Certificate of Origin Register maintained by Towarowa Giełda Energii had 3 359 members, with 43 members joining it in September.
There are 321 entities registered as the members of the Guarantees of Origin Register.