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The European Energy Exchange (EEX) has announced the launch date for trading in the new Wind Power Futures product. From 4 October 2016 onwards, trading participants on the EEX Derivatives Market will be able to hedge against volume risks in the generation of wind power within the German/Austrian market area.
The Wind Power Future is the second “Energiewende” product to be launched by the exchange and comes in response to the increasing challenges with regards to the energy transition. In September 2014, EEX launched trading in Cap Futures, a Derivatives Market product for hedging against price peaks on the German Intraday Market.
“Unlike the Cap Future, the Wind Power Future addresses volume risks which arise for market participants on the Day-Ahead Market as a result of the fluctuating feed-in of wind power”, explains Dr. Tobias Paulun, Chief Strategy Officer of EEX. The new product is an index future for which EEX offers weekly, monthly, quarterly and annual maturities.
EEX uses the Wind Power Index for Germany and Austria calculated by EuroWind GmbH, Cologne, for the settlement. This index describes the actual feed-in of power from wind power plants in Germany and Austria relative to the installed capacity on the basis of a model-based approach. This so-called load factor is calculated on an annual basis from weather data of the German National Meteorological Service and the Austrian Central Institute for Meteorology and Geodynamics (ZAMG) and includes all wind power plants installed in Germany and Austria.
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, Powernext, Cleartrade Exchange (CLTX), Gaspoint Nordic and Power Exchange Central Europe (PXE) are also part of EEX Group. Clearing and settlement of trading transactions are provided by the clearing house European Commodity Clearing (ECC). More information: www.eex.com
