In March this year total electricity trading volume on the Polish Power Exchange amounted to 10,959 TWh and it was higher in comparison with the preceding month by 246,59% (3,162 TWh in February 2011). Significant share in such success fell on electricity trading on the POLPX Commodity Derivatives Market, which in March 2011 amounted to 9,308 TWh, what composes month-to-month increase by 417,49% (and as many as 21150,26% year-to-year increase) as well as trading volume on the Day-Ahead Market, which increased by 21,13% (and as many as 284,28% year-to-year increase), reaching thereby the highest volume during over 10-year history of the POLPX.

The Day-Ahead Market (DAM)

In March 2011 the electricity trading volume with the day-ahead delivery on the POLPX trading floor amounted to the top-level value of 1,651 TWh. In comparison with the preceding month the DAM trading volume increased by 21,13% and as many as by 284,28% taking year-to-year ratio in consideration. Average daily trading volume remained at the level of 53 270 MWh, with minimum value of 38 990 MWh and maximum value of 75 280 MWh.

March has appeared to be consecutive month, on the grounds of which it could be assumed that the basic electricity trading market, what the DAM market is, is strengthening its position on the electricity business market in Poland. The DAM share in total hourly electricity demand amounted to – in average – 11.91%, with minimum value of 4,71% and maximum value of 27,32%.

Fact of permanent increase of the trading volume is of great importance for the process of integration of Polish power market with neighboring markets. Owing to strong basic market the Polish Power Exchange becomes active participant of the process of such changes.

The monthly BASE price, counted as the by-volume-weighted average for all transactions, which had been entered into on the Day-Ahead Market, amounted to 204,00 PLN/MWh (month-to-month increase by 8,83 PLN). The monthly PEAK price, counted as the by-volume-weighted average for all transactions, which had been entered on the Day-Ahead Market for hours between 8 a.m. and 10 p.m., amounted to 215,10 PLN/MWh (month-to-month increase by 11,31 PLN).

The Commodity Derivatives Market (CDM)

In March 2011 the electricity trading volume on the Commodity Derivatives Market amounted to 9,308 TWh. It composes month-to-month increase by 417,49% and year-to-year increase as many as 21150,26%.

The trading structure noticed in March 2011 shows that the POLPX’s members have started contracting of electricity with delivery in the year of 2012. The most liquid contract was the year contract with BASE electricity delivery profile in 2012 (delivery during all hours of the day) – BASE_Y-12. The total trading volume for that contract amounted to 7 598 160 MWh (865 MW) – what composes 81,63% of the CDM total trading volume. In March 2011 the average price for the BASE_Y-12 contract exceeded the threshold of 200 PLN/MWh and it was shaped at the level of 201,18 PLN/MWh (month-to-month increase by 1,92 PLN).

With regard to execution of the contracts for given hour of the electricity delivery day share of all electricity-dedicated markets of the POLPX in total hourly demand of the National Power System in March 2011 amounted to 63,88% (in average) (57,53% in February 2011), with minimum value of 52,50% and maximum value of 73,21%.

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The Polish Power Exchange (the POLPX) was established at the end of 1999. Its operational activities were started on the day of June the 30th 2000, when first contracts for delivery of electricity were concluded on so-called Day-Ahead Market. At present the POLPX runs the following markets: the Day-Ahead Market, the Commodity Derivatives Market with physical delivery, and the Property Rights Market for electricity coming from RES and CHP sources. The POLPX also keeps the Certificate of Origin Register for electricity coming from the Renewable Energy Sources and from high-efficient CHP units as well as the CO2 Emission Allowances Market.

Benefits resulting from the membership of the Polish Power Exchange Joint Stock Company.

• the most competitive transaction fees on the Polish power market
• safety of trading and guarantee of clearings of transactions, which have been entered into
• the modern transaction system based on NASDAQ OMX license
• broad range of instruments (suited for the participants’ needs) on the markets of electricity, property rights under certificates of origin and CO2 emission allowances
• identical terms of the market participation for all members, regardless of their size

Available to download: Monthly report for March 2011 >>link