Energy Sector Assumes Majority Interest In EEX AG - Group Of European Owners Another Step Towards European Energy Trading Platform

On Monday, the Supervisory Board of the European Energy Exchange AG (EEX AG) adopted the capital increase announced in early November. After the transfer of shares has been completed within the framework of the capital increase from 9.8 million EURO to 20 million EURO, companies from the European energy sector will hold 52 percent of the shares in EEX AG, the operating company of the European Energy Exchange (EEX). The remaining 48 percent will be held by Eurex Zürich AG. The group of shareholders will comprise the German and Swiss energy-sector companies as well as companies from the UK, Belgium, the Netherlands, Austria and other countries. These companies have made a binding commitment to participate. From the start, the EEX is implementing the concept of giving the participants in the energy market a substantial share of the exchange's capital. With the high stake in the operating organization, the markets and products offered by EEX are expected to meet with a high level of acceptance among the market participants. To create a European market organization, EEX is also still open for other exchange organizations and exchange projects to join as cooperation partners, it was reported in Frankfurt. The allotment of shares ensures that various groups within the energy sector are evenly represented. The circle of more than 40 shareholders will include all German and Swiss as well as various international power companies that are active in trading (among others, Atel, Bayernwerk, Electrabel, EnBW, RWE). Further shareholders will be 12 German and Swiss public utilities (among others, the municipal utilities of Hanover, Cologne, Mannheim, Zurich) and industrial consumers (among others, Alusuisse Lonza Energie, Deutsche Bahn Energie). So-called new German and international market participants (Enron, VASA, among others) have made a binding commitment to participate, as well as nine German and international banks with activities in energy clearing and energy trading (among others, Bayerische Landesbank, Dresdner Bank, Morgan Stanley Dean Witter). Trading at EEX will start during the second half of the year with a futures market for electricity; the design for a spot market will be presented during the first quarter of the year.