EEX Makes Further Important Contribution To Increased Transparency In Electricity Wholesale - Trading Expansion Of The Range Of Information Offered By EEX – New Market Area Switzerland – Change In Rules And Regulations For Planned Trading In Coal

In the future, the European Energy Exchange (EEX) will provide a range of data, which will considerably expand the range of information provided by the exchange to its trading participants as well as to the public. The Exchange Council of EEX adopted a corresponding resolution during its regular meeting in Rome on 23 March 2006 on the basis of proposals by the management board of the exchange. The transparency package will primarily comprise detailed information re-garding market making, such as e.g. quotation obligations and current quotations. Moreover, EEX will provide information on fast market situations on its internet site. Up to now, reports on highly volatile market situations were exclusively published via the trading system. In addition to this, the exchange will also provide information regarding the aggregated bid curves from the Spot Market, which was only available for the trading participants so far, to the rest of the public for downloading.

The chairman of the Exchange Council, Dr. Jacques Piasko, member of the management board of the Swiss EGL Elektrizitäts-Gesellschaft Laufenburg AG, sees the measures adopted as an important step towards achieving even more transparency on the wholesale market and is convinced: ”This will serve to strengthen the trading participants’ confidence in the trading platform of EEX further.“

The Exchange Council also paved the way for further development with its approval of the preparation of the market area of Switzerland. By means of this the exchange takes into account the trading participants’ strong interest regarding a supplementation of the current spot trading zones. Not only the 13 Swiss companies currently trading on EEX’ spot market but also many other trading participants on EEX, for whom Switzerland forms the hub between northern and southern Europe, advocated the introduction of this market area.

A balance agreement with the Swiss transmission system operator of Etrans was already concluded by EEX on 1 December 2005 and in the meantime schedule man-agement has been implemented technologically and tested successfully. Since EEX al-ready has all the appropriate technological preconditions at its disposal within the trad-ing system, no further costs will be incurred for admission as a trading participant, for dealers’ examinations or for the technical setup.

Finally, the Exchange Council also adopted the amendments of the rules and regulations of EEX, which are necessary in order to be able to start trading in financial coal contracts as well as clearing of over-the-counter coal transactions.

Upon a request by the international members of the Exchange Council, this body now also meets regularly in the hometowns of its members as of spring 2005. The composition of the exchange council is international and EEX has a clear European orientation. According to the chairman of the Exchange Council, Mr. Piasko, this fact is underlined by the selection of the venues for the meetings and this in turn testifies to the high de-gree of acceptance which EEX enjoys in the European energy industry. For the Italian energy supply companies the meeting of the council in Rome was an important signal, in particular because these companies are very much interested in a common Euro-pean electricity market, Ingmar Wilhelm, member of the Exchange Council and Director of Sales Business Customers of Enel in Rome adds. And he furthermore points out that EEX as the biggest energy exchange in continental Europe plays a decisive role for the integration of the market.

According to the German exchange act, the exchange council is an exchange authority and is elected by the trading participants. The tasks of this authority is to, amongst others, the supervision of the supervisory board and the enactment of the exchange regu-lations. The next election of the Exchange Council of EEX will be held before its meeting on 14 June 2006.