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16.06.2011 09:12
© European Commission
The Polish parliament should complete work on regulation allowing Polish Power Exchange's (PolPX) rivals to benefit from obligatory trade imposed on power producers in several months, the economy ministry said, cited by Reuters. Poland imposed the obligation to trade at least 15 percent of power generated by producers on public platforms in August 2010, the report reminds, but due to a punctuation error the trade was limited only to PolPX.
The current legislation effectively prevents Polish power producers from trading larger volumes of power on PolPX's rival POEE, a trading platform owned by the Warsaw Stock Exchange. The new law needs to be passed before Poland holds a parliamentary elections in October or it would have to be resubmitted in the next term.
Trading volumes on PolPX spot market rose 7 percent month-on-month to an all-time high of 1.9 terawatt hours in May and were more than eight times higher than a year earlier, mainly thanks to the mandatory trade imposed on producers. With liquidity on power markets in the region being one of the biggest concerns, market participants expect a consolidation of the exchanges, the Reuters report says. The Warsaw bourse already indicated it is interested in buying PolPX.
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