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Successful Launch of EPEX Spot Trading System (ETS) in France

Paris, Leipzig, 1st July 2010 - The fourth meeting of EPEX Spot Exchange Council chaired by Dr. Günther Rabensteiner was held on June 23, 2010 in Leipzig. The main topics discussed were:

  • Successful launch of EPEX Spot Trading System in France – Germany/Austria and Switzerland will follow
  • The amendments to Exchange Rules and the Code of Conduct
  • Study on the technical price limits

The EPEX Spot Trading System (ETS) has been successfully launched on the French Day Ahead Market on June 16, 2010. In this context information on exchange owned data will be available on the EPEX Spot website also for the French market area. This encompasses the number of active participants, the number of buyers and sellers, the number of net buyers and net sellers, as well as a list of submitted blocks characteristics and status (executed or rejected) on the FTP-Server. The implementation of ETS for the German/Austrian and Swiss market area is planned for end of August/beginning of September.

The main modifications of the Exchange Rules concern the introduction of the formal possibility to trade for several Exchange Members. In addition, the Exchange Council members agreed to further strengthen the admission criteria and specification of information rights pertaining to the Market Surveillance office, such as the submission of documents or hearing of persons. The amendments allow EPEX Spot a greater overview and surveillance on the market participants and contribute to the prevention of VAT fraud and money laundering attempts. The current EPEX Spot’s Market Rules and Regulations can be found here: http://www.epexspot.com/en/download-center .

Moreover, the Exchange Council has decided to launch a study on the level of the technical price limits in the auction. It will be analyzed to what extent technical price limits of EPEX Spot’s trading systems will meet the demands in economic perspective and whether the price limits in place will live up to those standards. The study will in particular focus on the conflict between the necessity not to influence market pricing, by simultaneously fixing maximal and minimal price limits for situations where a normal price formation is not possible. The results will be presented in one of the next meetings of the Exchange Council.

The Exchange Council members discussed thoroughly the different market coupling projects where EPEX Spot is involved. They welcomed the efforts made for a simultaneous launch of CWE and the Interim Tight Volume Coupling (ITVC) solution as close as possible to 7th of September, and the progress made in the Price Coupling of Regions enduring solution project.

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EPEX Spot SE is a Paris-based company under European law (Societas Europae). EEX and Powernext each hold 50 percent in the joint company, in which they integrated their entire spot power trading activities. The product range of EPEX Spot SE encompasses spot power trading for France, Germany/Austria and Switzerland. These countries account for more than one third of the European power consumption. In 2009, 203 TWh were traded on the EPEX Spot power markets.