EPEX SPOT and ECC successfully reduce lead time on all intraday markets
Trading now possible up to 30 minutes before delivery
Paris / Leipzig / Bern / Vienna, 16 July 2015. The European Power Exchange EPEX SPOT, together with its clearing house European Commodity Clearing (ECC), have successfully reduced the lead time on all intraday markets as of today. Trading now continues until 30 minutes before delivery in Germany, France and Austria. In Switzerland and across borders, trading will continue up to 60 minutes before delivery. In the past, lead time varied between 45 minutes and 75 minutes depending on the country and the cross-border gate closure time determined by the transmission system operators (TSOs).
Intraday lead time overview
“This is another milestone on our trail towards efficiency”, says Jean-François Conil-Lacoste, Chairman of the Management Board of EPEX SPOT. “Our customers benefit from trading closer to real-time – this is what the market wants and needs.”
“Together, ECC and EPEX SPOT have invested significantly in implementing technical improvements in order to enable the shorter lead time”, comments Dr. Thomas Siegl, CRO of ECC. “With this step, we have increased the flexibility for trading while improving at the same time our physical settlement processes.”
When the intraday markets for Germany (in 2006) and France (in 2007) were launched, lead time was 75 minutes, without the possibility for implicit cross-border trading. In 2010, the two intraday markets were connected. EPEX SPOT reduced the lead time by 30 minutes in the year after. In 2012 and 2013 respectively, EPEX SPOT launched the intraday markets in Austria and Switzerland.
The European Power Exchange EPEX SPOT SE operates the short-term electricity markets for Germany, France, Austria and Switzerland. EPEX SPOT owns 100% of APX Group (including Belpex), operator of the short-term electricity markets for the Netherlands, the United Kingdom and Belgium. Striving for the creation of a European single market for electricity, EPEX SPOT shares its expertise with partners across the continent and beyond. EPEX SPOT is a European company (Societas Europaea) in corporate structure and staff, based in Paris with offices in Amsterdam, Bern, Brussels, Leipzig, London and Vienna. 275 companies trade over 450 TWh of electricity on EPEX SPOT and APX every year – one third of its countries’ electricity consumption. EPEX SPOT is held by EEX Group, part of Deutsche Börse, and European electricity transmission system operators. For more information: www.epexspot.com
European Commodity Clearing (ECC) is the central clearing house for energy and related products in Europe. In its capacity as the central counterparty ECC assumes clearing as well as physical and financial settlement of transactions concluded on CEGH Gas Exchange of the Vienna Stock Exchange, EEX, EPEX SPOT, HUPX, Gaspoint Nordic, Powernext and Power Exchange Central Europe, or registered for clearing on these exchanges. Furthermore, ECC will start clearing services for the Norwegian NOREXECO soon. For more information: www.ecc.de