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At its constitutive meeting in Leipzig on 20 June 2012, the newly elected Exchange Council of the European Energy Exchange (EEX) elected Peter Heydecker, Head of Origination Gas & Power, Vitol S.A., as its chairman. Moreover, the Exchange Council elected Dr. Bernhard Walter, EnBW Trading GmbH, Pierre Chevalier, DB Energie GmbH, and Dr. Michael Redanz from MVV Trading GmbH as deputy chairmen with equal rights. Furthermore, Univ.-Prof. Dr.-Ing. Albert Moser, professor and head of the Institute of Power Systems and Power Economics (IAEW) of RWTH Aachen, was elected to the council as a representative from the energy science.On behalf of all members, Peter Heydecker thanked the members who have left the council and the previous chairman Dr. Günther Rabensteiner for their commitment on the Exchange Council.
In the framework of the meeting, Steffen Köhler and Dr. Dr. Tobias Paulun were appointed as further Managing Directors Exchange, in addition to Peter Reitz. Steffen Köhler has been a member of the Management Board and Chief Market Officer of EEX AG since March 2012. Tobias Paulun is EEX Director Strategy and Market Development. As a result, the exchange will be led by three managing directors in the future.
The presentation of a concept for trading in green power constituted another focus of the meeting. EEX and EPEX SPOT have developed a concept as to how exchange trading with guaranteed certificates of origin for power from renewable energies, the so-called “Green certificates”, can be implemented. In line with the model used in CO2 trading, exchange trading can be based on existing national registries. EEX and EPEX SPOT are examining both the introduction of short-term spot as well as derivatives trading. The Exchange Council welcomed this concept as a feasible solution which contributes to increasing transparency on the green power market. According to Peter Heydecker, exchange trading with certificates of origin can constitute an element in a refined funding mechanism for renewable energies and support the integration of renewable energies into the market. The specifications of the products which can be traded in the future are currently being coordinated with market participants by EEX and EPEX SPOT and are to be presented at the next Exchange Council meeting.
The challenges created by the energy turnaround are a subject into which the exchange is looking intensively. Therefore, the Exchange Council welcomed Prof. Dr. Felix Höffler, director of the Institute of Energy Economics (EWI) at the University of Cologne, as a guest at its meeting. Prof. Höffler presented the study on the power market design of the future, which has been published recently. The EWI study, e.g., examines the introduction of a capacity mechanism in order to meet the challenges of the energy turnaround and ensure the security of supply in view of an ever increasing share of renewable energies. This study led to a lively discussion among the members of the council. As a result, the Exchange Council requested in the political discussion a clear commitment to the existing market design, which safeguards planning certainty for the energy industry and contributes to facilitating investments.
The Exchange Council of EEX is an official body of the exchange under the German Exchange Act. It consists of in total 24 me interest groups and business circles: In addition to the trading participants with 19 elected members from five different voting groups, four representatives from associations and one representative from the energy science are members. The tasks of the Exchange Council include, in particular, the adoption of the rules and regulations of the exchange and their amendments. In addition, its tasks comprise the supervision of the Management Board of the Exchange and the appointment of the head of the Market Surveillance.
