EPEX Spot / EEX Power Derivatives: Power Trading Results in February 2010

(PresseBox) ( Leipzig /Paris, )
In the framework of their cooperation, the European Energy Exchange AG (EEX) and the French Powernext SA integrated their Power Spot and Derivatives Markets in 2009.

In February 2010, a total volume of 112.3 TWh was traded on the joint subsidiaries EPEX Spot SE and EEX Power Derivatives.

Power trading in the dayahead auctions on EPEX Spot accounted for a total of 21,034,205 MWh and can be broken down as follows.

A new daily volume record was established on EPEX Spot German/Austrian Auction as 773 913 MWh were traded on 28 February 2010 for delivery on 1 March.

In February, a total of 786,288 MWh was traded on the intraday market:

- Germany 669,154 MWh, same month of the previous year 225,058 MWh
- France 117,134 MWh, same month of the previous year 78,721 MWh

The volume in power derivatives trading on EEX Power Derivatives amounted to 90.4 TWh in February (same month of the previous year: 86.2 TWh). This includes 4.1 TWh from trading in French Power Futures. The derivatives trading volume comprises 62.2 TWh from OTC clearing. On 26 February 2010, the open interest amounted to 530.3 TWh. On the Power Derivatives Market, the base load for the year 2011 was quoted at EUR 47.50 per MWh (Germany) and at EUR 50.00 per MWh (France) on 26 February 2010. The peak load price for the year 2011 amounted to EUR 61.43 per MWh (Germany) and to EUR 67.50 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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