Warsaw, 11 January 2016 TGE ends the year 2015 with the highest-ever volumes on the electricity and gas sport markets Summary of trading activity on the electricity, natural gas and property rights markets on TGE for the entire year 2015 and for December Press Release The electricity spot market volume achieved in 2015 totalled 25,140,254 MWh and was 5.5 per cent higher than one year before, and the highest since the inception of TGE The total electricity trading volume reached 186,702,484 MWh and was 0.1 per cent lower than in 2014 The volume on the natural gas spot market was 13,925,081 MWh exceeding the previous year's result by 111.8 per cent In 2015, the aggregate volume for natural gas markets was 106,868,146 MWh i.e. 4.3 per cent lower than in the preceding year. In 2015, as much as 414 new members joined the Certificates of Origin Register maintained by Towarowa Giełda Energii, which is an over 60% higher number than in 2014. Currently, there are 2539 members. Electricity Summary of trading activity at TGE in 2015 The volume of all transactions made on spot and forward markets in 2015 totalled 186,702,484 MWh, going down by 0.1per cent against the last year. On the Day-Ahead Market, the volume reached 25,077,034 MWh growing 5.6 per cent YoY and reaching the historical high for this TGE's market. The volume-weighted average price of electricity on the DAM in 2015 was 155.66 PLN/MWh and was lower than in the previous year by 29.09 PLN/MWh (184.75 PLN/MWh in 2014).On the forward market, the volume decreased to 161,562,230 MWh, falling by 0.9 per cent YoY. The volume-weighted average price of BASE_Y-16 contract in 2015 was 164.37 PLN/MWh and was lower than the corresponding price of BASE_Y-15 contract in 2014 (169.25 PLN/MWh) by 4.88 PLN/MWh. Electricity 2015 yearly volume (MWh) 2014 yearly volume (MWh) Total 186,702,484 186,800,654 IDM 63,220 85,369 DAM 25,077,034 23,737,977 CDM 161,562,230 162,977,307
Yearly volumes on the electricity markets Financial Instruments Market On 4 November, TGE launched the Financial Instruments Market (FIM) where cash-settled futures contracts on the TGe24 index computed for the Day-Ahead Market are traded. TGE plans to develop the market in stages and, based on the experience from other developed markets, expects that it will take at least one year for the market to become liquid. At the moment, the activities of the Exchange related to the development of the FIM are focused on the education of the market community. Talks are underway with companies that could become market makers already at the turn of Q1 2016. Natural gas The volume of all transactions concluded on the gas markets in 2015 totalled 106,868,146 MWh. This means a decrease by 4.3 per cent comparing to the 2014 result. Considerable volume growth was observed on the spot market for natural gas. For all the transactions concluded in the last year it reached 13,925,081 MWh. This represents a growth by 111.84 per cent against the result for previous year. The volume on the IDMg totalled 3,447,180 going up by 191.4 per cent while the volume on DAMg reached 10,477,901 increasing by 94.4 per cent. The volume-weighted average price of natural gas on the spot market in 2015 was 87.46 PLN/MWh and was lower than in the previous year by 17.54 PLN/MWh (105.00 PLN/MWh in 2014). The volume of natural gas traded on the Commodity Forward Instruments Market with Physical Delivery in 2015 totalled 92,943,065 MWh. The volume-weighted average price of GAS_BASE_Y-16 contract in 2015 was 95.35 PLN/MWh and was lower than the corresponding price of GAS_BASE_Y-15 contract in 2014 (110.46 PLN/MWh) by 15.11 PLN/MWh.
Natural gas 2015 yearly volume (MWh) 2014 yearly volume (MWh) Total 106,868,146 111,648,809 IDMg 3,447,180 1,182,781 DAMg 10,477,901 5,390,470 CDM 92,943,065 105,075,558 Property Rights Market The volume of electricity-related property rights trading totalled 58,926,414 MWh in 2015, going up by 63.6 per cent YoY. The yearly average price of property rights for green certificates traded during market sessions was 123.60 PLN/MWh, going down by 62.93 PLN/MWh against the 2014 level (186.53 PLN/MWh). Property rights concerning electricity 2015 yearly volume (MWh) 2014 yearly volume (MWh) Total 58,926,414 36,021,865 Green certificates 26,645,834 32,112,878 PRM session trading 6,528,521 6,957,156 PRM OTC trading 20,117,313 25,155,722 Yellow certificates 6,579,018 609,302 PRM session trading 1,194,356 114,906 PRM OTC trading 5,384,662 494,396 Red certificates 25,203,109 2,522,801 PRM session trading 5,165,564 522,028 PRM OTC trading 20,037,545 2,000,772 Purple certificates 498,453 776,884 PRM session trading 229,207 296,379 PRM OTC trading 269,247 480,504 Property Rights concerning energy efficiency Total (white certificates) 2015 yearly volume (toe) 2014 yearly volume (toe) 82,337 2,455 PRM session trading 70,555 2,455 PRM OTC trading 11,782 0
Guarantees of Origin for electricity 2015 yearly volume (MWh) 2014 yearly volume (MWh) Guarantees of Origin 635,081 0 New participants Currently 67 companies are the members of the Commodity Market (CM). The Certificate of Origin Register maintained by the Polish Power Exchange currently has 2539 members. In 2015, their number grew by as much as 414 i.e. by nearly 2/3 more than in 2014. The membership in the Financial Instruments Market was obtained by seven entities: Dom Maklerski Banku Ochrony Środowiska S.A., Dom Maklerski Noble Securities S.A., PGE Dom Maklerski, IRL Polska Sp. z o.o., DUON Marketing and Trading S.A., Polskie Górnictwo Naftowe i Gazownictwo S.A. and ING Securities. Electricity Summary of trading activity at TGE in December 2015 The volume of all transactions made on spot and forward markets in December 2015 totalled 16,940787 MWh, going up by 5.5 per cent against December 2014. On the forward market, the volume was 14,484,237 MWh, growing by 4.2 per cent YoY. On the Day-Ahead Market, the volume increased to 2,451,053 MWh, up by 13.2 per cent YoY. Electricity December 2015 (MWh) Total 16,940,787 16,063,428 IDM 5,497 4,716 DAM 2,451,053 2,164,845 CDM 14,484,237 13,893,866 Financial Instruments Market The Final Settlement Price for the futures contract series which expired in December was 143.07 PLN/MWh. Natural gas The volume of all transactions concluded on the gas markets in December 2015 totalled 8,236810 MWh. This means a decrease by 3.2 per cent comparing to the December 2014 result. On the Day-Ahead Market for gas the volume reached 1,533,048 MWh going up by 33.3 per cent while on the Intraday Market for gas it totalled 423,591 MWh with 0.1 per cent increase. In the Commodity Forward Instruments Market, the volume was 6,280,171 MWh going down by 9.5 per cent.
Natural gas December 2015 (MWh) Total 8,236,810 8,509,564 IDMg 423,591 423,165 DAMg 1,533,048 1,149,864 CDM 6,280,171 6,936,535 Property Rights Market In December, the volume of electricity-related property rights trading totalled 5,371,902 MWh, going up by 16.1 per cent YoY. Property rights concerning electricity December 2015 (MWh) Total 5,371,902 6,400,908 Green certificates 3,374,975 4,852,068 PRM session trading 667,158 869,351 PRM OTC trading 2,707,818 3,982,716 Yellow certificates 373,386 313,621 PRM session trading 107,576 32,809 PRM OTC trading 265,810 280,812 Red certificates 1,589,734 1,173,187 PRM session trading 306,838 272,143 PRM OTC trading 1,282,896 901,044 Purple certificates 33,807 62,032 PRM session trading 33,340 13,865 PRM OTC trading 467 48,167 Property Rights concerning energy efficiency December 2015 (toe) December 2014 (toe) Total (white certificates) 50,578 276 PRM session trading 41,963 276 PRM OTC trading 8,614 0 Guarantees of Origin for electricity December 2015 (MWh) Guarantees of Origin 208,185 0
*** Facts about TGE: Towarowa Giełda Energii S.A. (TGE) was founded at the end of 1999. TGE started its operations on 30 June 2000. The launch of TGE was one of the first steps towards the liberalisation of the Polish electricity market and the privatisation of the power sector The only licensed commodity exchange in Poland, institution of public trust, controlled by a stable shareholder the Warsaw Stock Exchange Member of the European Multi-Regional Coupling (MRC) Source of transparent and up-to-date information on electricity market. The only one institution to aggregate a full range of products related to the domestic energy market, i.e. electricity, natural gas, certificates of origin, guarantees of origin, CO2 allowances, futures market The fastest-growing commodity exchange in the region a member of EUROPEX, APEx and AFM. In 2014, the total volume of trade in TGE's electricity markets with physical delivery reached 186.8 TWh, which corresponds to 119.4 per cent of the domestic electricity production and 117.7 per cent of domestic consumption TGE is featured on the ACER's list of platforms for reporting transaction information according to REMIT requirements (RRM TGE) Since December 2010 TGE and Nord Pool Spot operate joint day-ahead markets on a market coupling basis for the Swe-Pol Link between Sweden and Poland; in 2016 an interconnection with Lithuania will be put into operation www.tge.pl Media contact: Towarowa Giełda Energii S.A.; Agata Samcik; press@tge.pl, +48 885 885 645, +48 607 030 573, +48 661 878 769