Powernext Increases Share In ECC

The Paris-based energy exchange Powernext has increased its interest in the clearing house European Commodity Clearing AG (ECC) from one nominal share to 1.5 percent of ECC’s capital as of 1 March 2011.

Powernext’s CEO Jean-François Conil-Lacoste says: “Powernext reinforces its ties with its German partner EEX and its energy-focused clearing subsidiary, ECC. Our investment in ECC’s capital highlights our determination in contributing to the development of an integrated European energy market where the different counterparties are able to trade with a maximum of security”.

EEX’s Chief Financial Officer Iris Weidinger says: “The commitment of Powernext is a consistent step within our successful co-operation and underlines the attractiveness of ECC as the European energy clearing house.