EEX Power Derivatives/EPEX Spot: Power Trading Results in September
Leipzig, Paris 8 October 2009. In the framework of their cooperation European Energy Exchange AG (EEX) and the French Powernext SA have integrated their Power Spot and Derivatives Markets. Starting in October 2009, the trade volumes generated on the Power Spot Market of EPEX Spot SE and the Power Derivatives Market of EEX Power Derivatives GmbH will be published jointly.
In September 2009, a total volume of 113.9 TWh was traded on the joint subsidiaries EPEX Spot SE and EEX Power Derivatives.
Power trading in the day-ahead auction on EPEX Spot accounted for in total 15,400,783 MWh of this and can be broken down as follows:
In September, a total of 648,430 MWh was traded on the intraday market:
• Germany 562,653 MWh, same month of the previous year 194,654 MWh
• France 85,777 MWh, same month of the previous year 59,351 MWh
The volume in power derivatives trading on EEX Power Derivatives amounted to 97.9 TWh in September (same month of the previous year: 107.0 TWh). This comprises 6.2 TWh from trading in French Power Futures. The derivatives trading volume comprises 64.3 TWh from OTC clearing. On 30 September 2009, the open interest amounted to 505 TWh. On the Power Derivatives Market the base load for the year 2010 was quoted at EUR 46.65 per MWh (Germany) and at EUR 49.62 per MWh (France). The peak load price for the year 2010 amounted to EUR 65.68 per MWh (Germany) and to EUR 69.50 per MWh (France).
EEX Power Derivatives GmbH operates the German and the French Power Derivatives Market and, hence, occupies a central position in power trading in Continental Europe: The trading participants can trade both Phelix Futures and Options with financial settle-ment and power futures settled physically with delivery to Germany and France. EEX AG holds 80% of the shares in EEX Power Derivatives GmbH and the French Powernext SA holds the remaining 20%. EEX Power Derivatives GmbH, established on 1 January 2008, is based in Leipzig and also has a branch in Paris.
EPEX Spot SE is a Paris-based company under European law (Societas Europaea) with a branch in Leipzig. EEX and Powernext each hold 50 percent in the joint company, in which they have integrated their entire spot power trading activities. The product range of EPEX Spot SE encompasses spot power trading for France, Germany/Austria and Switzerland. Together these countries account for more than one third of the European power consumption.
Clearing and settlement of all EPEX/EEX Power Derivatives transactions are provided by European Commodity Clearing AG (ECC), based in Leipzig, the clearing house of EEX and its partner exchanges.