Powernext increases share in ECC

Paris/Leipzig, (PresseBox) - The Paris-based energy exchange Powernext has increased its interest in the clearing house European Commodity Clearing AG (ECC) from one nominal share to 1.5 percent of ECC's capital as of 1 March 2011.

Powernext's CEO Jean-Fran├žois Conil-Lacoste says: "Powernext reinforces its ties with its German partner EEX and its energy-focused clearing subsidiary, ECC. Our investment in ECC's capital highlights our determination in contributing to the development of an integrated European energy market where the different counterparties are able to trade with a maximum of security".

EEX's Chief Financial Officer Iris Weidinger says: "The commitment of Powernext is a consistent step within our successful co-operation and underlines the attractiveness of ECC as the European energy clearing house."

About Powernext:

Powernext SA, incorporated in 2001, manages several complementary, transparent and anonymous energy markets: Powernext Gas Spot and Powernext Gas Futures were launched on November 26, 2008 in order to hedge volume and price risks for natural gas in France from Within-Day to the next three gas seasons. Since 1st December 2009, Powernext Gas Spot also allows the Transmission System Operator GRTgaz to progressively cover parts of its daily balancing needs on the market. EPEX Spot, based in Paris and owned equally by Powernext and by EEX, the German energy organized market, was launched on January 1st 2009 and facilitates, 365 days a year, the hourly balancing of physical power delivered the following day on the French, German/Austrian and Swiss hubs. In April 2009, Powernext contributed the French power derivatives to EEX Power Derivatives, a company dedicated to European power derivatives, based in Leipzig, against a 20 percent equity stake in this company.

European Commodity Clearing AG

European Commodity Clearing AG (ECC) is a clearing house whose range of services comprises clearing and settlement for exchange and over-the-counter transactions in energy. The Leipzig-based company was established in the year 2006 with the spin-off and transfer of the clearing activities of European Energy Exchange AG (EEX) to this subsidiary. In its function as central counterparty ECC assumes clearing as well as physical and financial settlement of transactions concluded on APX-ENDEX, the CEGH Gas Exchange of Vienna Stock Exchange, EEX, EPEX Spot, HUPX and Powernext as well as clearing and settlement of transactions registered for OTC clearing on these exchanges.

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