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EPEX SPOT SE is a company with a two-tier governance system consisting of the Management Board and the Supervisory Board. It is held by EEX Group and HGRT and has two additional Exchange bodies, the Exchange Council and the Market Surveillance office. 


EPEX SPOT is operated by EPEX SPOT SE which is a European company (Societas Europaea or SE). EPEX SPOT SE is incorporated in France, but the rules that are applicable to it are defined at European level. The foundation of a Societas Europaea (SE) allows companies incorporated in different member states to merge or form a holding company or joint subsidiary, while avoiding the legal and practical constraints arising from the existence of different legal systems.

Supervisory Board

The shareholders appoint a Supervisory Board, composed of outstanding actors of the European energy sector, which elects the Management Board. While the Management Board is responsible for commercial, economic and operational decisions, the Supervisory Board approves the strategy and budget of the company, controls the actions of the management and elects the Management board. The creation of the Supervisory Board supports EPEX SPOT’s work on the integration of the European power market and takes into account the increasing number of collaborations of European and international scale.

The members of the Supervisory Board are:

  • Mr Dietmar Beck, Senior Advisor European Markets and Congestion Management at Amprion GmbH
  • Mr Jean-François Conil-Lacoste, former President of PELOUPIA, until 31 May 2022
  • Mrs Clotilde Levillain, member of the Managing Board, Managing Director of the Customers Market & System Division, RTE
  • Mr Thomas Karall, Vice President International, Austrian Power Grid AG
  • Mrs Anja Kiessling, Chief Financial Officer, European Energy Exchange AG
  • Dr Egbert Laege, Managing Director SEEHG Securing Energy for Europe Holding GmbH, Berlin
  • Mr James Matthys-Donnadieu, (First Deputy Chairperson of the Supervisory Board), Chief Customers, Markets and System Officer, ELIA SA
  • Dr Dr Tobias Paulun, CEO of European Commodity Clearing (ECC)
  • Mr Peter Reitz(Chairperson of the Supervisory Board) Chief Executive Officer, European Energy Exchange AG
  • Mr Hans E. SchweickardtSenior Advisor, Blackstone London
  • Mrs Yvonne Visser-Stamformer Head Compliance & Integrity officer at TENNET, until 31 March 2022
  • Mr Yves Zumwald, Chief Executive Officer, Swissgrid AG

Exchange Council

The Exchange Council of EPEX SPOT is an official body of the Exchange. 29 members represent adequately the diversity of economic and corporate profiles that exists among the Exchange Members: Utilities and aggregators, trading companies, local suppliers and consumers, transmission system operators, banks, financial service providers, clearing banks and academics. This diversity reflects the objective of providing an efficient and competitive market in Europe.

Its missions include in particular the adoption of the Exchange Rules and the Code of Conduct of EPEX SPOT and their amendments. The Exchange Council approves new trading systems as well as new products or market areas and approves the appointment of the Head of the Market Surveillance. The body makes sure that the services and products of the exchange correspond to the needs of the market and that they can be implemented in legal and operational terms. It meets up quarterly.

By establishing an Exchange Council, EPEX SPOT has opened a permanent two-way street of interacting with our customers.

Members of the EPEX SPOT Exchange Council

The group of Utilities and Aggregators will be represented by:

  • Alpiq AG: Christoph Bellin, Head Asset Trading
  • Axpo Solutions AG: Marco Saalfrank, Head Continental Europe Merchant Trading, Member of the Management Board
  • EnBW Energie Baden-Württemberg AG: Dr. Bernhard Walter, Head of Market Design and Regulatory Affairs
  • EDF Trading: Jonathan Halimi, Intraday Manager
  • Edison SpA: Andrea Siri, Head of Origination
  • ENGIE SA: Hélène Robaye, Head of Regulation and Market Design at GEMS
  • E.ON Energy Markets GmbH: Tim Pirnay, Director Forward Trading
  • RWE Supply and Trading GmbH: Paul Dawson, Head of Regulatory Affairs
  • Statkraft Markets GmbH: Patrick Otto, Vice President Energy Management Continent
  • TotalEnergies Gas and Power Limited: Benoît Grehaigne, Head of Short Term Power Trading Europe
  • Uniper Global Commodities SE: Michael Bonde, Lead Power Trader
  • Vattenfall Energy Trading GmbH: Simon Peiner, Director Prompt Trading and Operations
  • VERBUND Energy4Business GmbH: Manfred Knabl, Head of Trading

The group of Trading Companies will be represented by:

  • Centrica Energy Limited: Mikkel Larsen Pedersen, Director Algo Trading Solutions and Digitization
  • Convex Energy GmbH: Alexander Reinhold, CEO and Partner
  • Danske Commodities A/S: Tim Kummerfeld, Director, Head of Intraday Power Trading
  • Energi Danmark A/S: Ronni Bruun Bodal, Vice President Proprietary Trading
  • enspired GmbH: Jürgen Mayerhofer, CEO
  • Outlook Energy Ltd: Timothy Varday, Director
  • Quark Energy Limited: Eleonora Pilla, Senior Market Advisor
  • Trafigura Denmark APS: Pavlo Skorynskyi, Lead Intraday Trader
  • TrailStone Renewables GmbH: Cedric Le-Tallec, Head of Power Trading

The group of Local Suppliers and Consumers will be represented by:

  • DB Energie GmbH: Waldemar Schlaht, Head of Front Office Team
  • EWE TRADING GmbH: Svend Ocke Bull, Head of Short Term Trading and Trading Services
  • MVV Trading GmbH: Jan Brübach, Managing Director

The group of TSOs will be represented by:

  • 50Hertz Transmission GmbH: Dirk Biermann, COO
  • Austrian Power Grid AG: Christian Todem, Head of System Development
  • RTE Réseau de transport d’électricité: Audrey Mahuet, Project Manager

The group of Banks and Financial Service Provider will be represented by:

  • BNP Paribas: Stela Valtcheva Gerova, Derivatives Execution and Clearing, Deputy Global Head of Corporate Sales’ Head of EMEA Corporate Sales

Shareholder Structure

EPEX SPOT’s equity capital is divided between EEX Group (51%) and HGRT (49%), a holding composed of the Transmission System Operators Amprion, APG, Elia, RTE, Swissgrid and TenneT. This shareholder structure illustrates that EPEX SPOT is as inclusive of as many interests as possible. 


Shareholder structure