An essential milestone in the framework of the power trading co-operation between European Energy Exchange AG (EEX) and Powernext SA has been reached with the contribution of the Powernext power futures to EEX Power Derivatives GmbH as of 1 April 2009.
EEX Power Derivatives, in which EEX holds 80%of the shares while the Paris-based Powernext holds the remaining 20%, will continue power derivatives trading for France with immediate effect in accordance with the co-operation agreement.
The Powernext Power Futures have now been integrated into the EEX Power Derivatives product French Power Future. Physical settlement of the base load and peak load futures (month, quarter and year futures) is provided through the delivery of power into the TSO zone of RTE. Clearing and settlement of all products is ensured by European Commodity Clearing AG (ECC), the clearing house of EEX and its partner exchanges.
The trading participants can trade all products on the Derivatives Market through one access to the market and, hence, benefit considerably from synergetic effects as well as from bundled liquidity and harmonised processes and structures, says Oliver Maibaum, managing director, EEX Power Derivatives GmbH.
L.D.