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EPEX SPOT/EEX Power Derivatives: Power Trading results in August 2012

Paris | Leipzig, 5 September 2012. In August 2012, a total volume of 26.5 TWh was traded on EPEX SPOT’s Day-Ahead and Intraday markets (August 2011: 25.0 TWh).

During the same period, the volume in power derivatives trading on EEX Power Derivatives amounted to 78.5 TWh (August 2011: 94.3 TWh).

Power spot markets in detail:

In August 2012, power trading on the Day-Ahead auctions on EPEX SPOT accounted for a total of 24,953,249 MWh (August 2011: 23,613,100 MWh) and can be broken down as follows:

Areas Monthly volume
Monthly volume - previous year
Price - monthly average (Base / Peak*)
DE/AT 19,231,250 18,448,376 44.90 / 53.02
FR 4,325,750 4,277,434 45.263 / 53.079
CH 1,396,249 887,290 45.38 / 53.90
Elix - European Electricity Index 43.49 / 52.52

* Peak excl. weekend

Prices between the French and the German markets, both coupled with Belgium and the Netherlands within the market coupling initiative in Central Western Europe (CWE), converged 82 % of the time.

On the EPEX SPOT Intraday market, a total volume of 1,472,331 MWh was traded in August 2012 (August 2011: 1,397,564 MWh):

Areas Monthly volume
Monthly volume - previous year
DE 1,334,549 1,270,682
FR 137,782 126,882

In August, cross-border trades represented 13.6 % of the total Intraday volume. Volume in 15-Minute contracts amounted to 171,758 MWh. This is an 11 % increase from the previous record (155,062 MWh in July 2012). In August, they represented 12.9 % of the volume traded on the German Intraday market.

Power derivatives markets in detail:

The volume in power derivatives trading on EEX Power Derivatives amounted to 78.5 TWh in August (August 2011: 94.3 TWh) and can be broken down as follows:

Products Monthly volume
Monthly volume - previous year
Settlement price on 31/08/2012 for the Year Future (Base / Peak)
Phelix Futures 70,824,238 88,612,506 49.10 / 60.40
French Futures 1,396,152 5,668,155 51.25 / 65.75
Phelix Options 6,306,500 0  -

In August, the total derivatives trading volume comprised 38.8 TWh from OTC clearing. On 31 August 2012, the open interest amounted to 481.9 TWh.

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 SE is a European company (Societas Europaea) based in Paris with a branch in Leipzig. 170.7 TWh have been traded in the first six months of 2012 on EPEX SPOT’s power markets. EPEX SPOT has currently 198 Exchange Members.

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. Market participants can trade financial settled power futures for Germany (Phelix Futures) and France (French Futures) as well as options on Phelix Futures. EEX AG holds 80 % of the shares in the company while the Powernext SA holds the remaining 20 %.

Clearing and settlement of all EPEX SPOT and EEX Power Derivatives transactions are provided by European Commodity Clearing AG (ECC) based in Leipzig. ECC is the clearing house of EEX and its partner Exchanges.