New power exchange set to energize the energy market

The new Polish Power Exchange (PPE) has begun trading. Yesterday, six of its sixteen participants conducted their first transactions, selling altogether 4,867 megawatts at an average price of zl. 83.99 per megawatt. At the opening PPE's supervisory board chairman David Hunter said, "The Polish Power Exchange will become one of the most important exchanges in Europe." Until June 29 all exchange operations will be treated as a dry-run, but from June 30 all transactions will be for real. Analysts estimate between 5% and 10% of all energy produced in Poland will be sold on the new exchange. (Puls Biznesu, page 3; Prawo i Gospodarka, page 1) J.K.