EPEX Spot / EEX Power Derivatives: Power Trading Results in October
Power trading on the day-ahead auctions on EPEX Spot accounted for a total of 23,079,399 MWh (October 2009: 16,998,229 MWh) and can be broken down as follows (attachment).
On 18 October, EPEX Spot and EEX launched ELIX, the new European Electricity Index which is based on the actual market orders in the EPEX Spot auction for the market areas France, Germany/Austria and Switzerland. ELIX is equal to the uncongested price in those market areas and shows the additional benefit which could be achieved through further market integration. From 19 to 31 October, the baseload average price for ELIX was 55.92 Euro/MWh, and the peakload average price was 62.41 Euro/MWh.
On the Intraday market a total of 1,044,729 MWh was traded in October (same month of the previous year: 815,263 MWh):
- Germany 954,034 MWh, same month of the previous year 699,239 MWh
- France 90,695 MWh, same month of the previous year 116,024 MWh
The volume in power derivatives trading on EEX Power Derivatives amounted to 84.2 TWh in October (same month of the previous year: 86.3 TWh). The total volume includes 2.9 TWh from trading in French Power Futures. The derivatives trading volume comprises 50.8 TWh from OTC clearing. On 29 October 2010, the open interest amounted to 578.9 TWh. On the Power Derivatives Market, the base load for the year 2011 was quoted at EUR 47.28 per MWh (Germany) and at EUR 49.18 per MWh (France) on 29 October 2010. The peak load price for the year 2011 amounted to EUR 58.25 per MWh (Germany) and to EUR 60.50 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 operates the power spot markets for France, Germany, Austria and Switzerland (Day Ahead and Intraday). Together these countries account for more than one third of the European electricity consumption. EPEX Spot is a Paris-based company under European law (Societas Europaea) with a branch in Leipzig.
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.