In the framework of their cooperation European Energy Exchange AG (EEX) and the French Powernext SA successfully integrated their Power Spot and Derivatives Markets during 2009.
The extensive cooperation project of EEX and Powernext was formally completed in autumn 2009 and pertains to the integration of the German/Austrian, Swiss and French power markets, covering more than one third of the European power consumption.
In 2009, a total power volume of 1,228 TWh was traded on the subsidiaries EPEX Spot and EEX Power Derivatives.
The 2009 trading volume in the day-ahead auction for the market areas Germany/ Austria, France and Switzerland on EPEX Spot accounted for 196.3 TWh. The auction volume can be broken down as follows:
| Areas |
Volume 2009 in MWh |
Volume 2008 in MWh |
Average Base Price 2009 / 2008 Euro/MWh |
| D/A | 135,601,265 | 145,941,910 | 38.85 / 65.76 |
| F | 52,648,347 | 51,634,901 | 43.012 / 69.151 |
| CH | 8,007,362 | 6,156,075 | 47.92 / 74.38 |
During the year 2009, the Intra-Day Markets displayed a particularly good development. The total trading volume amounted to 6,680,233 MWh, including:
- Germany 5,662,044 MWh, which is an increase by 147 percent in comparison to the previous year (2,291,571 MWh)
- France 1,018,189 MWh, which is an increase by 40 percent in comparison to the previous year (726,505 MWh)
The 2009 total trading volume on the EEX Power Derivatives Market amounted to 1,025 TWh compared with 1,165 TWh in the previous year. The volume comprises 31 TWh in French Power Futures. In April 2009, the Powernext Futures have been transferred to the French Power Futures traded on EEX Power Derivatives.The total power derivatives volume comprises 739.7 TWh from OTC clearing (2008: 886.6 TWh). On 30 December 2009, the open interest amounted to 514.9 TWh.
On the Power Derivatives Market the base load for the year 2010 was quoted at EUR 44.36 per MWh (Germany) and at EUR 47.82 per MWh (France) on 28 December 2009. The peak load price for the year 2010 amounted to EUR 59.58 per MWh (Germany) and to EUR 64.50 per MWh (France).
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.
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.
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.
