EPEX SPOTPower for Today. Power for Tomorrow.
Dr. Sandrine Wachon Tokyo I 29 January 2018
資料2-1
EEX Group at a glance
25.01.2018© EEX Group, 2018 2
EEX Group is a group of specialised companies providing marketplatforms for energy and commodity products across the globe. Thegroup offers market access and tailor-made solutions to tradingparticipants as well as integrated process handling with its own clearinghouses.
EEX Group consists of the following companies: European EnergyExchange (EEX), the European Power Exchange (EPEX SPOT),Powernext, Cleartrade Exchange, Power Exchange Central Europe(PXE), Gaspoint Nordic, Nodal Exchange and the clearing companiesEuropean Commodity Clearing (ECC) and Nodal Clear. EEX Group isbased in 16 worldwide locations and is part of Deutsche Börse Group.
EEX Group is based in 16 worldwide locations and is part of DeutscheBörse Group.
Development of EEX Group
25.01.2018© EEX Group, 2018 3
2002EEX established inLeipzig through themerger of twoGerman power exchanges.
2006The clearing business is spun off into ECC.
2008Cooperation launchedbetween EEX andPowernext in powerspot trading. EPEX SPOT is established.
2013EEX and Powernextextend cooperation to the gas market. PEGAS is founded.
2014EEX acquiresmajority stake in CleartradeExchange.
2015EEX holds 50 % share in the Danish gas exchange GasPoint Nordic.
EEX acquires majority stake in Powernext and indirectly in EPEX SPOT. The gas markets are operated byPowernext under the PEGAS brand. APX incl. Belpex becomes a 100 % subsidaryof EPEX SPOT.
2016EEX acquires two thirds of the sharesin the Praguebased PXE. CLTX becomes a wholly-owned subsidiaryof EEX. The gas markets forDenmark and Austria, which areoperated by Gaspoint Nordic andCEGH, were transferred to thePEGAS platform.
2017EEX aqcuires 100 % of the US based Nodal Exchange.
25.01.2018© EEX Group, 2018 4
EEX is the leadingEuropean Energy
Exchange.
Contracts on energy, environmental
products, freight, metals andagriculturals
EEX SPOT operatesthe power spot
markets of the Group.
Power: Day-aheadand intraday trading
PEGAS is the centralgas trading platform of
EEX Group andbundles the liquidity of
a large number ofmarkets.
Operated byPowernext
ECC provides clearingas well as physical
and financialsettlement of the
transactions.
Central clearing houseof EEX Group
CLTX is a platform fortrading in global
commodity derivatives transactions.
More than 40 derivatives contractsfocusing on the Asian
markets
Nodal Exchange is a derivatives exchange in the North American
energy markets..
Contracts on electricityand natural gas
Nodal Clear is a CFTC registered derivatives clearing organization.
Central clearing house of all Nodal Exchange
contracts-.
Powernext offers spotand derivatives trading
for European gas markets and operatesthe register for French guarantees of origin.
Gas products for AT, BE, DE, DK, FR, IT,
NL, UK
The Prague-basedPXE is the centre ofcompetence for theeastern European
markets.
Trading products forpower in CZ, SK, HU,
PL, RO
Gaspoint Nordic is a company
specialising in theDanish gas market.
Part of the PEGAS platform since 2016
EPEX SPOT: expertise for power spot market structure
49%51%
HGRT
100%
Clearing activities
EEX Group
Part ofEEX Group
100%
- Access to an anonymous market- Level playing field between
members- Financial guarantees through the
Clearing House- Calculation and publication of
transparent and fair price references
The organised market: principles
The role of the Exchangein the timeline of the market
Long and middle-term (Years/months/weeks)
Anticipated covering of need of supply, optimisation of
production means
Short-term(One day
before delivery)
Balance of production and consumption
Very short-term(several hours
before delivery)
Balance of production and consumption
Real-time(minutes)
System security
Derivatives DAY-AHEAD MARKET
INTRADAY MARKET Balancing>
DAY-AHEAD AUCTION- Optimisation of liquidity via an auction
- Market areas: Germany/Austria/Luxembourg, France, Great Britain, the Netherlands, Switzerland and Belgium
CONTINUOUS INTRADAY- Flexibility through continuous trading
- Market areas: Germany/Luxemburg, France, Great Britain, the Netherlands, Switzerland, Belgium and Austria
> >
EPEX SPOT : a European and an internationalsuccess story
EPEX SPOT created in 2008, roots going back to 2000 Societas Europaea headquartered in Paris 535 TWh of traded volumes in 2017: 464 TWh on the Day-
ahead market, 71 TWh on the Intraday marketOver 285 Exchange MembersOver 160 employees coming from 16 countriesOffices in Amsterdam, Bern, Brussels, Leipzig, London and
Vienna
Market operation services and 25% shares
Market operation services
Market coupling services
Markets and services of theEuropean Power Exchange EPEX SPOT
The markets of EPEX SPOT
Current EPEX markets
Market Expansion
21 borders Area of 1600 TWh consumption Over 285 Exchange Members 535 TWh of traded volume in 2017
EPEX SPOT Market review 2017: Volumes and delivery zones
DE/AT/LU: 280 TWh Thereof intraday: 47 TWhShare in consumption: 50%Delivery zones: 50Hertz, Amprion, APG, TenneT, TransnetBW
FR: 110 TWhThereof intraday: 4 TWhShare in consumption: 23%Delivery zone: RTE
NL: 35 TWh Thereof intraday: 1.5 TWhShare in consumption: 31%Delivery zone: TenneT
UK: 66 TWh Thereof intraday: 15 TWhShare in consumption: 22%Delivery zone: National Grid
BE: 19 TWh Thereof intraday: 1 TWhShare in consumption: 22%Delivery zone: Elia
CH: 25 TWh Thereof intraday: 2 TWhShare in consumption: 42%Delivery zone: Swissgrid
EEX Group: Facts and Figures
25.01.2018© EEX Group, 2018 11
3,760More than
TWh traded on the EEX Group power markets (2017)
550Participants more than
From over 30 countries
19in 2017 European countries
Day-Ahead market couplingcovering
200CO2 Emission Auctionsmore than
1,900TWh traded on the PEGAS natural gas markets (2017)
550in 16 locations
Employees more than More than
Thank you for your attention!EPEX SPOT Paris5 boulevard Montmartre75002 Paris FranceTel +33 1 73 03 96 [email protected]
EPEX SPOT London11 Westferry CircusCanary WharfLondon E14 4HE United Kingdom
EPEX SPOT BernMarktgasse 203011 Bern Switzerland
EPEX SPOT AmsterdamAtlas Arena Amsterdam – Australia Building Hoogoorddreef 71101 BA Amsterdam The NetherlandsTel +31 20 305 4000
EPEX SPOT LeipzigAugustusplatz 904109 Leipzig Germany
EPEX SPOT BrusselsBoulevard de l’Impératrice 661000 Bruxelles Belgium
EPEX SPOT WienMayerhofgasse 1/19 1040 Wien Austria