In conformity with earlier announcements the first electricity purchase auction took place on the Polish Power Exchange today. The purchase auction concerned purchase of electricity in amount of 100 MW in Year 2011 BASE contract.  (The Instrument BASE-A_Y-11). That was the first auction of such type, which from the very beginning enjoyed very high interest of the market participants and the press. 11 participants took part in the auction. Wolume of complex purchase orders exceeded supply, and was as high as 4 599 000 MWh.

Auction has not been resolved because the transaction price limit specified by the Tenderer was 195.00 PLN/MWh with a maximum Bid price 194.19 PLN/MWh, the spread was 81 polish grosz. Today on the Commodities Derivatives Market futures market for daily settlement price for the contract year BASE_Y-11 was 193.60 PLN / MWh

“The first electricity purchase auction on the Polish Power Exchange composes a green light for all entities  interested in safe electricity trading.  We are happy that such form of transactions has appealed to the exchange participants which shows the number of participants and, first of  all, the volume of complex of Bids, exceeded supply over five times.” – Mr. Grzegorz Onichimowski, The Polish Power Exchange Management Board President said.

On August 31 will be another electricity auction, this time it will auction to purchase 100 MW.