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Exchange Council Elections 2018

The mandate of the current Exchange Council is due to end in May 2018, therefore new elections will take place to elect new members. The electoral procedure is defined in Annex 1 of the Exchange Rules of EPEX SPOT.

1.    What is the Exchange Council of EPEX SPOT?

The Exchange Council of EPEX SPOT is an official body of the exchange which meets on a quarterly basis and represents the diversity of economic and corporate profiles that exists among the Exchange Members from various sectors: power trading companies, transmission system operators, regional suppliers, financial service providers, as well as commercial consumers.

2.    What is the mission of the Exchange Council?

The Exchange Council’s main mission is to represent the interests of all exchange members and to make their voice heard in the decision process of the exchange. The tasks of the Exchange Council include in particular the adoption of the Rules and Regulations and their amendments, as well as the approval of introduction of new products and trading systems. That body ensures that the services and products of the exchange correspond to the needs of the market and that they can successfully be implemented from a legal and operational point of view. Furthermore, it is also the responsibility of the Exchange Council to appoint the Head of Market Surveillance, who is reporting on market monitoring activity at every meeting.
The Exchange Council can also take a public position whenever a change in the design of the European power market could have an impact on the Exchange or on its capacity to choose, develop, maintain and constantly enhance its trading platforms. In this respect, the Exchange Council defends the necessary elements of competition in a non-discriminative manner which will guarantee innovation and efficiency among the trading platforms to the benefit of all EPEX SPOT exchange members.

3.    The composition of the Exchange Council

Bank and Financial Services Provider / Clearing Member: 1 seat
Utility / Aggregator: 14 seats
Local Supplier / Consumer: 3 seats
Trading Company: 5 seats
Transmission System Operator (TSO): 3 seats

The Exchange Council is composed of 26 representatives from 5 categories of members.
The number of seats per category is determined by the number of members per category and by their traded volume. However, no category is allowed to hold more than half of the elected seats.
Guests are also welcome during the meetings either on a permanent or occasional basis in order to share their expertise of the market with the Council. Those guests can be representatives of the academic world, of TSOs, of exchange members or any other stakeholders.

4.    The Electoral Procedure

As a first step, EPEX SPOT members will be asked:

•    to designate the person duly authorized to vote on behalf of their company (the voter) and to confirm the category to which they belong; In case of disagreement, EPEX SPOT electoral committee will decide on the category;

•    to eventually present their candidacy in their category, taking into consideration that candidates can be any company executives, technical experts or persons who are trusted with the management of their company. They must be reliable and have the necessary professional qualification for transactions on power exchanges, as required by EPEX SPOT Exchange Rules.

The voter and category form as well as the candidacy form accompanied by a short CV and a statement of principles have to be returned to EPEX SPOT by 23 April, 2018. The statement of principles will consist of a short text in which the candidate will explain why he/she thinks to be the right person to contribute fruitfully and efficiently to the Exchange Council work and to represent faithfully all exchange members.

Subsequently, EPEX SPOT will publish the registry of voters and the list of candidates on its website until the end of the elections process. All short CVs and statements of principles of the candidates will be available on the EPEX SPOT website.

The elections will be held by electronic vote from 7 until 28 May, 2018. Seats will be allocated to candidates per category according to the principle of proportional majority. In case of voting tie, the elderly candidate will be elected.

Finally, the results of the elections will be communicated to EPEX SPOT members and will be published on the EPEX SPOT website on 29 May 2018.
The first newly elected Exchange Council will meet on 27 June in Leipzig, Germany.

5. The Planning
 

Should you have any question regarding the elections of the EPEX SPOT Exchange Council, don’t hesitate to contact us. E-Mail: ec_election@epexspot.com

 
 

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