The graph shows the price of electricity delivered in different hours of the day, contracted within the so-called "fixings" of the Day-Ahead Market (DAM) of Polish Power Exchange – as well as the volume (amount) of energy bought for this price. It does not include taxes or transmission costs. Contact online >>
The graph shows the price of electricity delivered in different hours of the day, contracted within the so-called "fixings" of the Day-Ahead Market (DAM) of Polish Power Exchange – as well as the volume (amount) of energy bought for this price. It does not include taxes or transmission costs.
Fixing I: bids are placed to buy and sell energy (not including the possibility of trading with interconnected markets abroad), which are paired with each other. Bids are placed between 8:00 and 10:30 a.m. on the day before the physical delivery of energy. At 10:30 a.m., the price for all delivery hours is determined, but is not publicly available yet.
Fixing II: the next phase of bidding, which takes into account the possibility of trading with interconnected markets abroad. Bids are published at 11:15 and at 13:30 the price for all delivery hours is determined.
Poland''s energy sector is largely dependent on coal, which remains the country''s primary source of energy. Despite global trends shifting towards renewable sources, coal still plays a significant role in Poland''s energy production. This reliance is due to the country''s abundant coal reserves, which have historically shaped its energy policies and infrastructure.
However, recent years have seen a gradual shift with increased investments in renewable energy sources. Wind power, particularly onshore wind farms, and solar energy are gaining momentum, contributing to a more diverse energy mix.
The Polish government has implemented various initiatives to promote renewable energy. These efforts are partly driven by the European Union''s renewable energy directives and Poland''s commitment to reduce carbon emissions. Wind and solar power are at the forefront of these developments, with the country making significant strides in increasing the capacity of these renewable sources.
Despite these efforts, the transition to renewables is a complex process, facing challenges such as modernizing the grid infrastructure and managing the phase-out of coal-dependent regions and industries.
Poland is an active participant in the European Union''s electricity market. This integration facilitates cross-border electricity trade and enhances energy security. Poland is connected to neighboring countries through a network of interconnectors, which allows for the import and export of electricity, balancing supply and demand across regions.
Being part of the EU market also means Poland adheres to European regulations and standards, which aim to create a more competitive and sustainable energy market. These regulations include mechanisms for market coupling, capacity allocation, and congestion management.
One of the main challenges facing Poland''s electricity market is balancing the need for energy security with environmental sustainability. The country''s dependence on coal has significant environmental impacts, and transitioning to a greener energy mix is a complex and costly endeavor.
Looking to the future, Poland is expected to continue diversifying its energy sources, with a growing emphasis on renewables. This shift is vital for meeting environmental targets and ensuring a sustainable energy future. The integration with the EU electricity market will also play a crucial role in this transition, offering opportunities for collaboration and innovation.
Heating is one of the things that consumes the most electricity in a typical home. You save about 5% of the costs for heating for every degree you lower the interior temperature.
Lighting is not the thing that uses the most electricity, but it can still be a good investment to switch to energy-efficient and LED lights. These provide up to 10x more light with the same amount of energy.
kWh stands for kilowatt-hour, and is a unit that tells how much energy is used in one hour. Kilo means a thousand. So for example, if you have a 1000 watt oven on for one hour, you have used 1 kilowatt-hour. For a light bulb, which may only consume 10 watt, it will take 100 hours (just over 4 days) before you have used 1 kWh.
TGeBase index is an arithmetic average of hourly prices of electricity contracted for a given delivery day. Hourly prices, in turn, are volume-weighted averages of all transactions concluded for the delivery of electricity in a given hour on the Day-Ahead Market (DAM) of Polish Power Exchange (Towarowa Giełda Energii – TGE). The prices do not include taxes or transmission costs.
*TGeBase index includes all types of contracts concerning the given day – hourly, block, weekend (delivery over 24 hours, over weekend, in separate hours or periods of day).
There are multiple reasons behind these surging prices, including investments in energy infrastructure, shifts in energy market prices, and government regulations.
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