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15-minute contracts successfully launched on German Intraday market

EPEX SPOT helps to integrate renewable energy into the power system

Paris, 15/12/2011 – EPEX SPOT has successfully launched its 15-minute product on the German Intraday Market. It allows the exchange members to better take into account the fluctuations of wind power productions over one hour and to balance accordingly their portfolios on the exchange.
Since 14 December 2011 at 11 o’clock, 15-minute contracts are available for trading in addition to the existing hourly contracts. 15-minute contracts open two hours before the delivery of the corresponding underlying hour and close 45 minutes before the start of the quarter's delivery. On the first day, 177.5 MWh have been traded using exclusively 15 minute contracts.

The new product was developed following a demand by the members of the exchange. It is cleared by the European Commodity Clearing AG (ECC), which provides settlement and physical fulfilment.

Until now, the smallest time periods traded on the German Intraday Market were hours. Due to the growing influx of renewable energy in Germany, the production of power varies more and more within one hour. Renewable energy producers as well as Transmission System Operators, selling most of the power from renewable energy sources in Germany on the spot exchange, are therefore in need of more flexible instruments. By introducing 15-minute contracts, EPEX SPOT contributes to facilitate the German energy transition.

15-minute contracts also allow a better handling of consumption fluctuations, as is the case in the morning and in the evening. In so doing, the new product helps to optimise grid stability.

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EPEX SPOT SE operates the power spot markets for France, Germany, Austria and Switzerland (Day Ahead and Intraday). Together these countries account for more than one third of the European electricity consumption. EPEX SPOT is a Paris-based company under European law (Societas Europaea) with a branch in Leipzig. 283 TWh have been traded from 1 January to 30 November 2011 on the EPEX SPOT power markets.