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 MWh |
Monthly volume - previous year MWh |
Price - monthly average (Base / Peak*) Euro/MWh |
| 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 MWh |
Monthly volume - previous year MWh |
| 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 MWh |
Monthly volume - previous year MWh |
Settlement price on 31/07/2012 for the Year Future (Base / Peak) Euro/MWh |
| 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.
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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 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.