Energy Prices On Spot Market Among The Lowest In Europe

Energy transactions on the spot market - PZU - managed by OPCOM remained quite vivid in November, too, as an OPCOM report points out that, in the general context of the fluctuations of the monthly average spot prices set by the majority of European markets between 50 and 90 EUR/MWh in November, the average trading price on PZU was 60.53 EUR/MWh (227.38 RON/MWh), i.e. one of the lowest three values. This value corresponds to an average transaction volume of 591 MWh, or a 9.21% consumption quota. In the first 11 months of the year, the daily average volume was 588 MWh/h, compared to 578 MWh/h in the corresponding period of 2007. The overall volume traded on PZU in the first 11 months of the year was 4.7 TWh, compared to 4.6 TWh in the corresponding period of 2007. The weight of the spot transactions within the consumption for the first 11 months of the year reached 9.37%, while the average price of this period was 191.47 RON/MWh (52.30 EUR/MWh). On the Centralized Market for Bilateral Contracts (PCCB), managed by OPCOM, the volume of 7.9 TWh (traded for an average of 173.36 RON/MWh, i.e. 47.52 EUR/MWh) was, in the first 11 months of the year, by 40% higher than in the corresponding period of 2007 and 7 times more than in 2006. The weight of these volumes within the net domestic consumption increased from 2.31% in 2006 to 11.65% in 2007 and to 15.72% in 2008.

For 2009, the transactions made in November 2008 and in the previous months guarantee deliveries equal to 17.68% of the consumption. The increase is evident compared to the 11.62% weight in the consumption calculated for 2008, as derived from transactions performed on PCCB by 30 November 2007. By using the electricity trading platforms managed by OPCOM, traders contributed to the assurance of a relevant percentage of the national consumption in an environment of competition and transparency: 22% of the consumption, equal to transactions of energy deliverable in November 2008 of 1,056,488 MWh.