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

Paris | Leipzig, 6 August 2012. In July 2012, a total volume of 27.8 TWh was traded on EPEX SPOT’s Day-Ahead and Intraday markets (July 2011: 25.8 TWh).

During the same period, the volume in power derivatives trading on EEX Power Derivatives amounted to 59.7 TWh (July 2011: 72.9 TWh).

Power spot markets in detail:

In July 2012, power trading on the Day-Ahead auctions on EPEX SPOT accounted for a total of 26,275,798 MWh (July 2011: 24,415,298 MWh) and can be broken down as follows:

Areas Monthly volume
Monthly volume - previous year
Price - monthly average (Base / Peak*)
DE/AT 20,080,008 18,910,126 41.02 / 51.14
FR 4,589,388 4,479,475 41.750 / 52.810
CH 1,606,402 1,025,697 40.37 / 50.93
Elix - European Electricity index 39.12 / 50.24

* 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 85 % of the time – a new monthly average record.

On the EPEX SPOT Intraday market, a total volume of 1,492,900 MWh was traded in July 2012 (July 2011: 1,363,286 MWh):

Areas Monthly volume
Monthly volume - previous year
DE 1,361,962 1,225,411
FR 130,938 137,875

In July, cross-border trades represented 13.5 % of the total Intraday volume. Thereof, volume in 15-Minute contracts amounted to 155,062 MWh. This is a 13 % increase from the previous record (136,900 MWh in May 2012). In July, they represented 11.4 % 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 59.7 TWh in July (July 2011: 72.9 TWh) and can be broken down as follows:

Products Monthly volume
Monthly volume - previous year
Settlement price on 31/07/2012 for the Year Future (Base / Peak)
Phelix Futures 56,828,067 67,064,780 48.29 / 59.59
French Futures 1,026,756 5,203,501 50.20 / 62.51
Phelix Options 1,851,600 693,650  -

In July, the total derivatives trading volume comprised 27.0 TWh from OTC clearing.  On 31 July 2012, the open interest amounted to 485.3 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 200 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.