EEX Power Derivatives/EPEX Spot: Power Trading Results in December
In December 2009, a total volume of 85.7 TWh was traded on the joint subsidiaries EPEX Spot SE and EEX Power Derivatives.
Power trading in the dayahead auction on EPEX Spot accounted for in total 18,896,469 MWh of this and can be broken down as follows:
In December, a total of 912,418 MWh was traded on the intraday market:
- Germany 793,743 MWh, same month of the previous year 192,522 MWh
- France 118,676 MWh, same month of the previous year 78,170 MWh
The volume in power derivatives trading on EEX Power Derivatives amounted to 66.8 TWh in December (same month of the previous year: 57.7 TWh). This comprises 1.6 TWh from trading in French Power Futures. The derivatives trading volume comprises 45.7 TWh from OTC clearing. On 30 December 2009, the open interest amounted to 514.9 TWh. On the Power Derivatives Market the base load for the year 2010 was quoted at EUR 44.36 per MWh (Germany) and at EUR 47.82 per MWh (France) on 28 December 2009. The peak load price for the year 2010 amounted to EUR 59.58 per MWh (Germany) and to EUR 64.50 per MWh (France).
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:
The trading participants can trade both Phelix Futures and Options with financial settlement and power futures settled physically with delivery to Germany and France. EEX AG holds 80 percent of the shares in EEX Power Derivatives GmbH and the French Powernext SA holds the remaining 20 percent. EEX Power Derivatives GmbH, established on 1 January 2008, is based in Leipzig and also has a branch in Paris.
EPEX Spot SE is a Parisbased company under European law (Societas Europaea) with a branch in Leipzig. EEX and Powernext each hold 50 percent in the joint company, in which they have integrated their entire spot power trading activities. The product range of EPEX Spot SE encompasses spot power trading for France, Germany/Austria and Switzerland. Together these countries account for more than one third of the European power consumption.
Clearing and settlement of all EPEX Spot and EEX Power Derivatives transactions are provided by European Commodity Clearing AG (ECC), based in Leipzig, the clearing house of EEX and its partner exchanges.
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