The electricity market is where electricity is bought and sold, similar to how other commodities like oil or gas are traded. In this market, prices are determined by supply and demand, with various factors influencing costs like weather, production methods (renewable or non-renewable energy), and o Contact online >>
The electricity market is where electricity is bought and sold, similar to how other commodities like oil or gas are traded. In this market, prices are determined by supply and demand, with various factors influencing costs like weather, production methods (renewable or non-renewable energy), and overall electricity consumption.
Electricity markets like to efficiently match supply and demand of electricity. Unlike most commodities, electricity cannot be stored in large quantities, so it must be produced and consumed in real time. This dynamic nature requires a transparent, regulated system where prices reflect current conditions.
By allowing multiple producers and distributors to participate in the market, prices are determined more by supply and demand. This creates an open competetive market environment to develop innovative solutions for power generation that yield in best efficiency, favoring the production of electricity with lower upfront costs and reduced operational expenses. Eventually leading to a market where energy producers with lowest margins can thrive.
Day-ahead data refers to electricity prices that are determined one day in advance. Participants submit their bids for how much electricity they plan to buy or sell for each hour of the upcoming day. Based on supply and demand forecasts, the market sets prices for every hour of the next day. This allows electricity producers, distributors, and consumers to plan ahead, ensuring they are prepared for the expected energy costs and consumption levels.
Nord Pool publishes electricity prices in megawatt-hours (MWh), but for everyday consumers, it''s more practical to think in kilowatt-hours (kWh). For example, a typical oil radiator might have a power rating of 2000W (or 2kW). If the radiator runs continuously for one hour, it will consume 2kWh of electricity.
Our electricity price graph displays the cost in cents per kilowatt-hour (cents/kWh). So, if your oil radiator consumes 2 kWh of electricity and the current price is 10 cents per kWh, the total cost for running the radiator for one hour would be:
TGE (Towarowa Giełda Energii, Polish Power Exchange) was established in 1999 and has been a key institution in the Polish energy landscape. For over 20 years, the company has been implementing innovative wholesale trading solutions focusing on energy products. It is a venue where reference prices are created and a central source of reliable market information, while ensuring the security of trades in its markets.
Following changing global trends, TGE is constantly developing its range of services. The Polish commodity exchange enables trading in electricity, natural gas, property rights, CO2 emission allowances and agri-food commodities.
For several years TGE has been involved in local projects to develop the market for renewable and low-carbon gases, in particular biomethane and hydrogen. TGE operates under the supervision of the Polish Financial Supervision Authority as the Poland''s only licensed commodity exchange authorised to operate a regulated market. It is also featured on the ACER''s list of platforms for reporting transaction information according to REMIT requirements.
As part of international cooperation, TGE is involved in a number of projects aimed at building a common energy market. It is active on the European Day-Ahead Market and the SIDC Intraday Market and boasts the status of a Nominated Electricity Market Operator (NEMO) for the Polish bidding zone.
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