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

In the framework of their cooperation, the European Energy Exchange AG (EEX) and the French Powernext SA integrated their Power Spot and Derivatives Markets in 2009.

In May 2010, a total volume of 151.5 TWh was traded on the joint subsidiaries EPEX Spot SE and EEX Power Derivatives.

Power trading on the day-ahead auctions on EPEX Spot accounted for a total of 21,477,835 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	16,740,657	11,121,317	41.17 / 46.76
FR	3,894,764	4,305,719	42.393 / 48.186
CH	842,414	623,458	42.47 / 48.16

In May, a total of 966,374 MWh was traded on the Intraday market:

Germany 893,431 MWh, same month of the previous year 382,093 MWh
France 72,943 MWh, same month of the previous year 62,278 MWh

The volume in power derivatives trading on EEX Power Derivatives amounted to 129.1 TWh in May (same month of the previous year: 84.2 TWh). The total volume includes 3.0 TWh from trading in French Power Futures. The derivatives trading volume comprises 73.4 TWh from OTC clearing. On 31 May 2010, the open interest amounted to 573.6 TWh. On the Power Derivatives Market, the base load for the year 2011 was quoted at EUR 51.10 per MWh (Germany) and at EUR 54.00 per MWh (France) on 31 May 2010. The peak load price for the year 2011 amounted to EUR 66.44 per MWh (Germany) and to EUR 72.50 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 is a Paris-based company under European law (Societas Europaea) with a branch in Leipzig. EEX and Powernext each hold 50 percent in the joint company, in which they have integrated their entire spot power trading activities. The product range of EPEX Spot SE encompasses spot power trading for France, Germany/Austria and Switzerland. Together these countries account for more than one third of the European power consumption.

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.