Electricity trading volume on the European Energy Exchange (EEX) in March 2008 totalled 96.2 TWh, compared with 122.5 TWh in March 2007.
This includes 14,367,094 MWh (March 2007: 10,714,911 MWh) traded on the electricity Spot Market, where the average base load price (Phelix Base Month) for the month was 53.34 Euro/MWh and the peak load price (Phelix Peak Month) 68.39 Euro/MWh.
Intraday volume in March 2008 was 168,165 MWh (March 2007: 59,942 MWh). On the Swiss electricity Spot Market March 2008 volume was 431,429 MWh (March 2007: 333,559 MWh).
Trading volume in electricity derivatives in March 2008 totalled 81.9 TWh (March 2007: 111.8 TWh). This includes 59.6 TWh from OTC clearing. The Open Interest at 31 March 2008 was 266.1 TWh. The 2009 base load price for German electricity was fixed at 63.58 Euro/MWh on 31 March 2008 and the 2009 peak load price at 89.29 Euro/MWh.
A total of 133,200 EU Allowances (EUA) were traded on the Spot Market in March, compared with 388,701 EUAs in March 2007.
The last trading day for the EU allowances for the first compliance period (2005 – 2007) on the EEX Spot Market was the 20th of March 2008. The trading start for the second trading period (2008 – 2012) on the EEX Spot Market is planned in June 2008 because the issuing of the EUAs by the German Emissions Trading Authority (DEHSt) is expected to be conducted in June. Until the commencement of trading EEX publishs a CO2 index.
Volume on the EEX Derivatives Market was 4,469,000 EUAs (385,000 EUAs March 2007). The 2008 contract was fixed at 22.25 Euro/EUA on 31 March 2008, and the 2009 contract at 22.85 Euro/EUA.
In July 2007, EEX launched natural gas trading. In March 2008, the total Spot Market volume (BEB and E.ON GT market areas) was 40,010 MWh. The Spot Market price for the delivery of natural gas ranged between 22.75 Euro/MWh and 24.30 Euro/MWh.
Volumes on the Derivatives Market (BEB and E.ON GT market areas) amounted to 834,720 MWh. On 31 March 2008, the open interest was 1,530,520 MWh. On 31 March 2008 natural gas prices for delivery in 2009 were fixed at 26.78 Euro/MWh (BEB) and 27.39 Euro/MWh (E.ON GT), respectively.
EEX currently has 205 member companies from 20 countries. Energiefinanz GmbH, Schwerin, VDM Energy Trading B.V., Amsterdam, and Bear, Stearns International Lim-ited, London, were admitted to the EEX Derivatives Market. Within the EEX/Eurex co-operation in emissions trading Bank Vontobel AG, Zürich, Bear, Stearns Securities Corp., New York, Gass Capital Markets GmbH, Frankfurt am Main, and Merrill Lynch International, London, were admitted to the EEX Derivatives Market.