Electricity market and gas market on the Polish Power Exchange in May 2013

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1 Warsaw, 7 June 2013 Electricity market and gas market on the Polish Power Exchange in May 2013 Press Release The volume of trade in electricity in May totalled 11,592 TWh, which corresponds to YoY growth by percent. The Commodity Forward Instruments Market (CFIM) accounted for 10,050 TWh YoY growth by 37.75, whereas the volume on the Day Ahead Market (DAM) reached 1,538 TWh and was lower by 3.59 percent than in the same month of the previous year and by percent comparing to the previous month. The total volume of all transactions on the gas market from 1 January until 31 May reached 381,728 MWh, including 78,576 MWh in May, of which 34,656 MWh on the spot market (DAMg) and 43,920 MWh on the forward market (CFIMg). Overall, 293 transactions were concluded on the gas market since the beginning of the year, including 84 in May, of which 79 on the DAMg and 5 on the CFIMg. In May, the aggregate trading volume for all the POLPX markets dedicated to electricity reached 11,592 TWh and saw a percent decline comparing to the previous month (17,060 TWh in April 2013). When compared to the figures for the same period in the last year, the volume of electricity trading on POLPX grew by percent. The total volume for all types of property rights traded on the Property Rights Market in May 2013 was 1,388 TWh and was higher by 4,08 percent comparing to the previous month. (1,334 TWh in April 2013). When compared to the same period of the last year, the trade volume on the PRM dropped by 72,17 percent. (4,988 TWh in April 2012). As of 31 March 2013, the obligation in respect of acquiring the so-called red and yellow certificates and their presentation to the President of ERO for redemption ceased to apply, which is reflected in the difference of the PRM volume levels as compared to the same period in The average daily demand of the National Power Supply System in May 2013 was 395,259 MWh. The average daily volume of electricity contracted at POLPX for delivery in May 2013 amounted to 262,105 MWh and was lower by 6.89 percent comparing to the previous month (281,491 MWh in April 2013) with the minimum and maximum levels ranging from, respectively, 205,154 MWh to 294,366 MWh Informacja prasowa Ι Press Release 1

2 Comparison of electricity volume contracted at POLPX and total daily demand of the National Power Supply System in May 2013 (MWh) Day-Ahead Market (DAM) Electricity In May 2013, the trade in respect of day-ahead electricity contracts on the POLPX's floor reached the volume of 1,538 TWh, which represents a decline by 3.59 percent on a year-on-year basis. Comparing to the previous month, the volume is lower by percent (1,863 TWh in April 2013). The daily trading volume averaged 49,620 MWh, with the minimum and maximum levels ranging from, respectively, 37,938 MWh to 65,654 MWh. The monthly BASE price calculated as the volume-weighted average price for all transactions on the Day-Ahead Market was PLN /MWh (MoM decline by PLN 4.43). The monthly PEAK price calculated as the volume-weighted average for all transactions on the Day-Ahead Market between 8AM and 10PM was PLN /MWh (MoM decline by PLN 4.33). Monthly DAM Volumes (MWh) Informacja prasowa Ι Press Release 2

3 Commodity Forward Instruments Market (CFIM) for electricity The trade in electricity on the Commodity Forward Instruments Market in May 2013 reached 10,050 TWh, which represents a growth by percent on a year-on-year basis. The volume for the CFIM market in May 2013 was lower by percent comparing to the previous month (15,192 TWh in April 2013). The volume levels on CFIM, when compared against previous months, indicate that POLPX members continue to contract deliveries for the next year. The majority of the May 2013 volume, i.e. 64%, was generated by contracts with delivery in the next year. Base-load contract with delivery in 2014 (BASE_Y-14) was the most liquid instrument. In May 2013, the volume for this contract totalled 6,184,560 MWh. The volume-weighted average transaction price for this contract was PLN /MWh (MoM decline by PLN 8.02). The prices of electricity for yearly BASE contracts are at their lowest since the introduction of this type of instrument to trade on the CFIM. On 24 May 2013, the clearing price for BASE_Y-14 contract stood at PLN/MWh with the volume of 157,680 MWh. Monthly Volumes (MWh) Informacja prasowa Ι Press Release 3

4 Development of the clearing price for BASE-Y-14 contract (PLN) Natural gas The total volume of all transactions on the gas market from 1 January until 31 May reached 381,728 MWh, including 78,576 MWh in May, of which 34,656 MWh on the spot market (DAMg) and 43,920 MWh on the forward market (CFIMg). Overall, 293 transactions were concluded on the gas market since the beginning of the year, including 84 in May, of which 79 on the DAMg and 5 on the CFIMg. Day-Ahead Market for gas (DAMg) In May 2013, the volume of day-ahead trade in gas at POLPX totalled 34,656 MWh. In May, the trading volume on DAMg reached 34,656 MWh (against 57,096 MWh in April). Overall, 79 transactions were formed on the DAMg. The monthly GAS_BASE price calculated as the volume-weighted average price for all transactions on the Day-Ahead Market in May was PLN /MWh (MoM decline by PLN 0.32). Commodity Forward Instruments Market (CFIMg) for natural gas In May 2013, the natural gas trading volume on the Commodity Forward Instruments Market totalled 43,920 MWh. In May, the trade in gas at CFIMg reached the volume of 43,920 MWh (against 54,312 MWh in April). The volume-weighted average transaction price for all trades in May stood at PLN /MWh (MoM decline by PLN 0.02). Informacja prasowa Ι Press Release 4

5 Natural gas on POLPX January - May [MWh] January February March April May DAMg CFIMg *** Polish Power Exchange (POLPX) was established at the end of 1999 It is the only licensed energy exchange in Poland. POLPX started its operation on 30 June The launch of POLPX was one of the first steps towards the liberalisation of the Polish electricity market and the privatisation of the power sector. Since February 2012 POLPX is a wholly owned subsidiary of the Warsaw Stock Exchange. POLPX operates the following markets: electricity (Commodity Forward Instruments Market with Physical Delivery - CFIM, Day-Ahead Market - DAM, Intraday Market - IDM and gas market (RTTg, RDNg), as well as Property Rights Market. POLPX is currently one of the most rapidly growing commodity exchanges in the region. This is demonstrated by the membership in EuroPEX, an organisation which promotes the consolidation of energy markets through cross-border links, and gathers all active energy exchanges in Europe. Since December 2010 POLPX and Nord Pool Spot operate joint day-ahead markets on a market coupling basis for the Swe-Pol Link between Sweden and Poland. The aggregate trading volume for all the markets dedicated to electricity reached TWh in This figure corresponds to roughly 82.57% of the electricity generated in Poland and over 84.06% of the total consumption. For more information visit: Media contact: Polish Power Exchange press@tge.pl tel: , , Informacja prasowa Ι Press Release 5