EEX: First trades In Nordic Power Futures

Yesterday, the first trades were registered for Nordic Power Futures at the European Energy Exchange (EEX). The trades were concluded for delivery in the fourth quarter of 2015 with a volume of 6,627 megawatt hours, traded at a price of EUR 25 per MWh.

EEX’s offering for Nordic power, which launched earlier this year, offers its market participants the ability to trade contracts with a monthly, quarterly and yearly maturity as well as the price difference between Phelix Futures and Nordic power futures.

The clearing model of the European Commodity Clearing (ECC) is another major advantage for customers as the daily margin calculation is in line with EMIR requirements. In contrast, the collateralisation of exchange derivatives transactions with bank guarantees, which is commonly used on the Nordic power market at present, will no longer be permitted from 2016.

These trades come as EEX prepares to open its office in Oslo. By establishing a permanent base in the region, EEX will be able to provide support to customers on the ground and, in doing so, will be better placed to service the market’s needs.

Steffen Köhler, COO of EEX comments: “Our platform provides participants with access to trading opportunities on a wide range of European power markets. Thus, our offering for Nordic Power is not only interesting for existing customers in this market, but also for new participants coming from our international customer network.”

In addition to the new Nordic power futures, financially settled contracts with delivery in Germany/Austria, France, Italy, Spain, Switzerland, the Netherlands and Belgium are also available on the EEX Power Derivatives Market.

The European Energy Exchange (EEX) is the leading energy exchange in Europe. It develops, operates and connects secure, liquid and transparent markets for energy and commodity products. At EEX, contracts on Power, Coal and Emission Allowances as well as Freight and Agricultural Products are traded or registered for clearing. Alongside EEX, EPEX SPOT (incl. APX-Belpex), Powernext, Cleartrade Exchange (CLTX) and Gaspoint Nordic are also part of EEX Group. Clearing and settlement of trading transactions are provided by the clearing house European Commodity Clearing (ECC).