There are plans to reinstate the so-called exchange obligation on electricity, which is also to include RES energy. – The stock exchange is not adapted to RES energy trading, and the RES market is doing very well with energy trading under current conditions, says Szymon Kowalski, vice president of the RE-Source Poland Hub Foundation.
In the wind power industry, the idea of including energy from RES sources in the exchange bond was received very negatively
Szymon Kowalski, vice chairman of the RE-Source Poland Hub Foundation, says that in the wind power industry, the idea of including energy from RES sources in the exchange bond has been received very negatively.
– Only RES sources with a capacity of less than 10 MW have been excluded from the exchange bond, while other generation sources at the level of 50 MW have been excluded. This is an incomprehensible, discriminatory treatment of RES sources,” says Szymon Kowalski. Szymon Kowalski points out that the exchange obligation for RES in the proposed formula is an additional cost for RES power generators. He says that the draft shows that any RES source with a capacity of more than 10 MW would have to have a license to trade electricity, which involves, among other things, having its own trading and analytics, i.e. the need to obtain a license and hire additional people to trade. For RES, which are typically in the 1-50 MW range at the moment, these additional requirements are a cost increase threatening business, and for larger ones, they are additional costs that will ultimately negatively affect the cost of power generation. The additional costs imposed on RES by the exchange bond will be passed on in energy prices. There are interpretations of the draft indicating that RES energy covered by cPPAs would be excluded from the exchange bond, but he points out that “currently cPPAs are maybe only up to 20 percent of the annual volume of RES production, and besides, it is not obvious from the draft.”
– The provisions of the bill are structured in such a way that it can be understood that only cPPAs meaning direct sale of RES energy to the consumer are excluded from the bond, and there are only a few such contracts in Poland. In the case of most cPPAs, RES energy is sold directly to consumers, but through contract balancing aggregators. The Ministry of Energy seems to want to preserve and protect cPPAs, but points out that this does not change PWEA’s assessment that the exchange bond for RES electricity is a bad solution. Even if the market for cPPAs were protected, the bond would break up the market for PPAs, i.e. between RES and trading companies, complicate the operation of RES, raise the cost of energy from RES, but that’s not the end of it.Achieving the goal behind the return of the bond, i.e. improving liquidity in the exchange electricity market and, above all, in the futures part of it, would not help, because RES, due to the weather-dependent nature of its work, sells energy on the POLPX through spot contracts, says Szymon Kowalski.
The draft submitted for consultation assumes that the bond will go into effect in July 2026. At least for now, formally the government is still within the assumed schedule. The planned date for the government to adopt the bond bill is the first quarter of 2026, according to the Council of Ministers’ list of legislative and programmatic work.
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