Trade and Storage
Operator Systemu Magazynowania
Operator Systemu Magazynowania Sp. z o.o. (OSM) was established on November 16th 2010 to ensure compliance with the requirements of Directive 2009/73/EC with respect to legal separation of gas fuel storage functions from other types of business conducted by vertically integrated gas utilities.
In May 2012, the President of the Energy Regulatory Office appointed OSM – at the request of PGNiG – as Storage System Operator for gas fuels. The company was also granted a licence authorising it to store gas fuels in storage facilities, valid from June 1st 2012 through May 31st 2022.
In order to ensure equal treatment of customers, the storage services are provided based on the Rules of Provision of Storage Services and the Gas Fuel Storage Tariff.
In October 2012, OSM and OGP Gaz-System SA concluded an Inter-Operator Transmission Agreement. The agreement defines detailed terms, conditions and methods of cooperation between the companies and serves as the basis for the allotment to OSM of throughput capacities at the inter-system physical entry points to the transmission system and at the inter-system physical exit points from the transmission system at connection points with the storage facilities. The agreement was executed based on the Transmission Grid Code drafted by OGP Gaz-System SA and approved by the President of the Energy Regulatory Office on July 24th 2012.
| Operator Systemu Magazynowania | Unit | 2012 | 2011 |
|---|---|---|---|
| Revenue | PLN m | 339 | 0 |
| Net profit (loss) | PLN m | 15 | -1 |
| Equity | PLN m | 19 | 4 |
| Total assets | PLN m | 78 | 4 |
| Workforce as at December 31 | persons | 27 | 3 |
PGNiG Sales & Trading Group
The PGNiG Sales & Trading Group comprises PGNiG Sales & Trading GmbH and its subsidiary XOOL GmbH. PGNiG Sales & Trading was established to trade on international gas and electricity markets. In 2012, PGNiG Sales & Trading acquired 100% of the shares in XOOL GmbH. The acquired company sells natural gas to end consumers on the German market, where it has approximately 17,000 customers.
In 2012, PGNiG Sales & Trading derived 74% of its revenue from sales of natural gas to PGNiG. The fuel was supplied to Poland with the use of the available transmission capacities at the Lasów entry point and the reverse flow service on the Yamal Pipeline at the Mallnow point. In 2012, the company sold and delivered 890 m m³ of natural gas to PGNiG.
In addition, PGNiG Sales & Trading conducted natural gas trading activities in Germany, where it traded on the European Energy Exchange (EEX). The company also executed transactions on virtual trading platforms and concluded EFET (European Federation of Energy Traders) standard contracts for supply of natural gas on OTC markets. In order to be able to deliver physical supplies of natural gas to the German market, PGNiG Sales & Trading executed contracts with transmission system operators in the NetConnectGermany and Gaspool market areas.
| PGNiG Sales & Trading Group | Unit | 2012 | 2011 |
|---|---|---|---|
| Revenue | PLN m | 1,462 | 450 |
| Net profit (loss) | PLN m | 0 | -3 |
| Equity | PLN m | 38 | 41 |
| Total assets | PLN m | 518 | 221 |
| Workforce as at December 31 | persons | 37 | 14 |
PGNiG Energia
PGNiG Energia SA is engaged in preparation of investment projects and trading on wholesale electricity markets, as well as trading in certificates of origin for electricity and CO2 emission allowances.
In 2012, PGNiG Energia traded in electricity on the Polish and German wholesale electricity markets. It also traded in property rights to certificates of origin for electricity generated from renewable sources, and CO2 emission allowances. The company also rendered commercial balancing and customer support services for PGNiG Termika and sold electricity to the PGNiG Group.
In 2012, PGNiG Energia generated revenue of PLN 165 m, 61% of which was derived from sales to third-party customers. Sales of electricity accounted for 90% of the company’s total revenue. Apart from the PGNiG Group, the company mainly sold electricity to PSE Operator SA and Alpiq SE. The company also sold electricity on the Polish Power Exchange.
In 2013, PGNiG Energia is to be merged with PGNiG SA.
| PGNiG Energia | Unit | 2012 | 2011 |
|---|---|---|---|
| Revenue | PLN m | 165 | 24 |
| Net profit (loss) | PLN m | -4 | -2 |
| Equity | PLN m | 34 | 27 |
| Total assets | PLN m | 54 | 32 |
| Workforce as at December 31 | persons | 38 | 48 |