Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

EPEX Spot / EEX Power Derivatives: Power Trading Results In December

Date 10/01/2011

In December 2010, a total volume of 110.6 TWh was traded on the Power Spot and Derivatives Market operated by EPEX Spot SE and EEX Power Derivatives (same month of the previous year: 85.7 TWh).

Power trading on the day-ahead auctions on EPEX Spot accounted for a total of 24,970,420 MWh (December 2009: 17,984,051 MWh) and can be broken down as follows:

Areas  Volume MWh Volume for the previous year MWh Base / peak on a monthly average Euro/MWh
D/A 18,994,479 12,102,904  55.55 / 70.81
FR 5,078,011 5,198,362 62.772 / 72.094
CH 897,931 682,785 62.37 / 72.59
ELIX - European Electricity Index 57.50 / 66.36

On the Intraday market a total volume of 1,231,704 MWh was traded in December (same month of the previous year: 912,418 MWh):

  • Germany 1,102,501 MWh, same month of the previous year 793,743 MWh
  • France 129,203 MWh, same month of the previous year 118,676 MWh

As of 14 December 2010, EPEX Spot has started offering to its members the opportunity to access an integrated Franco-German Intraday market place. In December, cross border trades represented 8 percent of the total intraday volume.

The volume in power derivatives trading on EEX Power Derivatives amounted to 84.4 TWh in December (same month of the previous year: 66.8 TWh). The total volume includes 5.4 TWh from trading in French Power Futures. The derivatives trading volume comprises 43.6 TWh from OTC clearing. On 30 December 2010, the open interest amounted to 568.9 TWh. On the Power Derivatives Market, the base load for the year 2011 was quoted at EUR 51.40 per MWh (Germany) and at EUR 53.98 per MWh (France) on 28 December 2010. The peak load price for the year 2011 amounted to EUR 62.60 per MWh (Germany) and to EUR 66.30 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: Market participants on EEX Power Derivatives can trade power futures and options with financial settlement as well as futures with physical 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.