| ©THE HEREN REPORTS - Romania�s OPCOM exchange ups H2 2006 trading volumes by 27% yr-on-yr |
| 2010-04-06 |
| Romanian Day-ahead exchange OPCOM has increased its traded volume by 27% year-on-year, to 2.18 TWh for the last six months of 2006 compared with the same period in 2005. The average Day-ahead price for the period was RON 180.77/MWh (EUR 54.00/MWh), a 44% increase over the last half of 2005. This increase is due to low fuel supply for coal-fired thermal generation and low levels of hydro generation this year due to lack of rain (thermal accounts for 55% and hydropower for around 30% of generation). OPCOM traded 4.11 TWh during 2006 as a whole, with 7.74% market share. It reached a 7% market share in its first year of trading, although no year-on-year comparison can be made, as the exchange began trading under its new IT system on 30th June 2005. October volumes made for the highest market share of the year, reaching 10.4% of related forecast consumption. The volumes and market share for OPCOM’s centralized market for bilateral contracts has also increased, with a market share of 1.4% of forecast consumption for 2006 (0.7 TWh traded, at an average of RON 130/MWh), and 4.3% for 2007 (2.25 TWh traded, at an average of RON 159/MWh). Prices across the region are increasing for 2007 with the closure of two units of Bulgaria’s Kozloduy nuclear power station, removing 880 MW primarily used for exports, although this is offset to some extent by a second unit of the country’s Cernavoda nuclear plant coming on line in mid-2007, adding 700 MW of generation. OPCOM also offers a centralised market for green certificates, which certify that 1 MWh of power has been generated from renewable sources. A total of 7,841 were traded in the 12 monthly sessions in 2006, at an average price of RON 155.08. Romania is one of the most advanced power markets in the region, with 83.5% of the market open by July 2005, at least in theory. The transmission system operator is already unbundled. The country generated 54.8 TWh in 2005, with 54% of this thermal (from state-owned Termoelectrica), 36% from hydro power from Hidroelectrica and 9% from Cernavoda, operated by Nuclearelectrica. (THE HEREN REPORTS - EDEM 11003 / 4 January 2007) |
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