Towarowa Giełda Energii (TGE) and Polish Wind Energy Association (PWEA) have signed a cooperation agreement to create new support solutions for trading RES electricity.
The agreement aims to develop new exchange-based solutions to support trading in electricity generated in renewable energy sources.
This will be done thorough the creation of a working group whose task will be to define by June 30 June 2021 a concept for exchange instruments to support the development of the PPA market together with a method of their implementation.
The cooperation will also involve the preparation of recommendations for the development of other services supporting the growth of the RES sector.
The joint efforts of TGE and PWEA have been undertaken to address issues discussed in 2020 within the Market Council which is an advisory body to TGE.
TGE vice president of the management board Piotr Listwoń said: “Renewable Energy Sources are the future of the Polish power sector.
“Each year, the demand for green energy has been going up.
“With this in mind, TGE wants to offer products that keep up with the trends and changes in power generation technologies.
“We are committed to creating a most effective solution that strengthens market-driven mechanisms.
“Renewable energy should also be competitive, for example on the wholesale markets we operate.
“This is a fundamental reason which led TGE to undertaking the cooperation with PWEA.
“I hope that in the near future there will be additional support schemes at the regulatory level in which the Exchange will be able to play a major role.”
An analytical report to be prepared by external experts will be a key element of the cooperation and serve as the basis for the definition and implementation of specific PPA exchange products.
The results will be presented in the second half of 2021 and will provide the basis for consultations with the RES industry and electricity consumers.
PWEA president Janusz Gajowiecki added: “We are committed to promoting and supporting the development of renewable energy sources, in particular wind energy, relying both on the existing auction support scheme as well as the new formula, i.e. bilateral contracts between the seller and the recipient of RES electricity.
“As the Association bringing together major representatives of the wind power industry, we have the ambition to set standards for the sector.
“We are convinced that the exchange instruments we are working on together with TGE will encourage RES producers and energy consumers to enter into cPPA transactions.
“The access to such products on the exchange will increase transparency of the RES electricity trading process, which the market badly needs in order to grow further.”