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http://yadda.icm.edu.pl:80/baztech/element/bwmeta1.element.baztech-b87ec252-eea8-42fd-80d0-86b9c6d7299c

Czasopismo

Acta Energetica

Tytuł artykułu

Futures Contracts on the Polish Power Exchange

Autorzy Dąbrowska-Kauf, G. 
Treść / Zawartość
Warianty tytułu
Języki publikacji EN
Abstrakty
EN In 2015 the Polish Power Exchange (Polish: Towarowa Giełda Energii) launched a financial instrument market (Polish: RIF), introducing derivatives – futures contracts which are a basic instrument to protect against volatility on the spot market. The emergence of financial instruments was meant to attract financial institutions to enter the market exchange. They were supposed to bring capital to build up liquidity on the market and take over the risk from industry entities, which should focus on their primary activity instead. During two and a half years of the market’s operation, there was little volume in futures transactions. The article presents benefits from trading the instruments to prompt market activity of potential participants. At the same time, other power exchanges experienced high trade volume growth in derivatives – their trade volume was often higher than physical supply contracts. The future contracts enhance predictability of electrical energy prices that are paid by customers, therefore their role is extremely important.
Słowa kluczowe
PL giełda   rynek finansowy   energia elektryczna   ryzyko   zabezpieczenie   obrót  
EN energy market   financial market   power   risk   hedging   exchange  
Wydawca ENERGA SA
Czasopismo Acta Energetica
Rocznik 2018
Tom nr 1
Strony 23--28
Opis fizyczny Bibliogr. 14 poz., tab.
Twórcy
autor Dąbrowska-Kauf, G.
Bibliografia
1. Carron M., Aroyo J.M., Conejo A.J., “Abilevel stochastic programming approach for retailer futures market trading”, IEEE Trans. Power Syst., Vol. 24, No. 3, 2009, pp. 1446–1456.
2. Dąbrowska-Kauf G., “The technical reliability of electrical power objects in the formulation of management accountancy”, Industrial Engineering and Engineering Management, 2008, IEEM 2008, Proceedings of IEEE International Conference on, Vol., Iss., Singapore, 8–11 Dec. 2008, pp. 556–560.
3. Dąbrowska-Kauf G., “Activity based costing management of two technical facilities reliability in enterprises of the power engineering sector. In Electrical and Control Technologies-2006”. Proceedings of international conference, Kaunas, Lithuania, 4-5 May 2006. Kaunas: Technologija, 2006. pp. 70–75.
4. Dąbrowska-Kauf G.: “The risk management processes in electric energy trade in Poland” (Journal of KONBiN, Vol. 1, No. 1, 2006, pp. 1895–8281), In The 4th International Conference on Safety and Reliability. KONBiN, Kraków, 30th May – 2nd June 2006. Warszawa: ITWL, 2006. pp. 261–268.
5. Dąbrowska-Kauf G., “Innovations in power grid enterprises increasing effectiveness of processes ensuring continuity and quality of electric energy supplies”, Advances in Safety and Reliability ESREL 2005 (Kołowrocki), A.A. Balkema Publishers, London, UK, Vol. 2, pp. 421–427.
6. Dębski W., “Rynek finansowy I jego mechanizmy. Podstawy teorii I praktyki” [Financial market and its mechanisms. Basis of theory and practice], PWN, Warszawa , 2014.
7. Jonson B., Sogomonian A., “Electricity futures”, The US power market, London: Risk Publication, 1997, pp. 83–98.
8. Kuteń M., “Rozpoczęcie notowań na rynku futures Giełdy Energii S.A.” [Launch of futures market trading on the Polish Power Exchange], Rynek Terminowy 4/2002.
9. Mielczarski W., Michalik G., “Open Electricity Markets in Australia. Contract and spot prices”, IEEE Power Engineering Review, Power Engineering Letters, No. 2, 1999.
10. https://www.ema.gov.sg/Electricity_Futures_Market.aspx
11. https://www.ema.gov.sg/Singapore_Energy_Statistics.aspx.
12. Australian Electricity Derivatives, https://www.asxenergy.com.au/products/electricity_futures/australian_power_indices.
13. Record high for New Zealand electricity futures market, https://www.asx.com.au/documents/products/ASXNZElectricityFuturesandOptionsContractSpecificationsDecember2015.pdf.
14. TGE, http://www.polpx.pl/.
Uwagi
1. Wersja polska na stronach 29--33.
2. Opracowanie rekordu w ramach umowy 509/P-DUN/2018 ze środków MNiSW przeznaczonych na działalność upowszechniającą naukę (2019).
Kolekcja BazTech
Identyfikator YADDA bwmeta1.element.baztech-b87ec252-eea8-42fd-80d0-86b9c6d7299c
Identyfikatory
DOI 10.12736/issn.2300-3022.2018103