Exchange Council welcomes successful launches of Nordic markets
Positive response to handling of Corona crisis
Paris, 24 June 2020. At the quarterly meeting of the EPEX SPOT Exchange Council, the members welcomed the successful launches of the market offering in the Nordic region. Intraday and Day-Ahead trading were launched jointly with European Commodity Clearing (ECC) in Denmark, Finland, Norway and Sweden on 25 May and 3 June respectively.
“This is truly a new chapter for EPEX SPOT” says Ralph Danielski, Chief Executive Officer of the Exchange. “We are now able to not only support our members to extend their trading activity to new market areas but to also bring our unique trading solutions on both the Day-Ahead and Intraday segment to new actors in the region.”
The members of the Exchange Council also gave positive feedback with regard to the handling of the Covid-19 crisis. “The swift switch to extensive working from home arrangements while maintaining a high level of availability and transparency towards members were strong signals of trust and reliability to the market” comments Bernhard Walter, Chairman of the EPEX SPOT Exchange Council. Extensive measures continue to be in place to protect the health of EPEX SPOT staff while securing market continuity. The Exchange Council members have been kept informed in detail about the measures during several dedicated extraordinary meetings.
The second regular Exchange Council meeting of 2020 was held on 24 June 2020 and chaired by Bernhard Walter, Head of Market Design and Regulatory Affairs at EnBW AG.
The Exchange Council of EPEX SPOT is an official body of the Exchange. 26 members and 4 permanent guests represent adequately the diversity of economic and corporate profiles that exists among the Exchange Members from various sectors: producers, power trading companies, transmission system operators, regional suppliers and financial service providers, as well as commercial consumers and academics. Its missions include in particular the adoption of the Exchange Rules and the Code of Conduct of EPEX SPOT and their amendments. The Exchange Council approves new trading systems as well as new contracts or market areas and approves the appointment of the Head of the Market Surveillance Office. It meets up quarterly.
The European Power Exchange EPEX SPOT SE and its affiliates operate physical short-term electricity markets in Central Western Europe, the United Kingdom and in Denmark, Finland, Norway and Sweden. As part of EEX Group, a group of companies serving international commodity markets, EPEX SPOT is committed to the creation of a pan-European power market. Over 300 members trade electricity across twelve countries on EPEX SPOT. 49% of its equity is held by HGRT, a holding of transmission system operators. For more information, please visit www.epexspot.com.