EPEX SPOT and ECC successfully launch Intraday markets in the Nordic region
5,754 MWh traded during the first 48 hours
Leipzig / Paris, 28 May 2020. The European Power Exchange EPEX SPOT and its clearing house European Commodity Clearing (ECC) successfully launched their Intraday continuous trading and clearing services in Denmark, Finland, Norway and Sweden. First trading day was 25 May.
During the first two days, 5,754 MWh have been traded by six exchange members in all 12 Nordic bidding zones. 1,342 orders were submitted in the same period. The markets are coupled via the pan-European Single Intraday Coupling (SIDC, formerly XBID). Daily market results are updated on the EPEX SPOT website.
Furthermore, based on the most advanced trading standard offered in the region from the start of the operation, EPEX SPOT and ECC are participating in a pilot project managed by the Finnish Transmission System Operator Fingrid, in which a lead-time of 0 minutes is exhaustively tested in the Finnish bidding zone.
Ralph Danielski, Chief Executive Officer of EPEX SPOT comments: “This is a major milestone for our company. Our teams have been working with utmost dedication to achieve this go-live. First and foremost, we wanted to make sure to bring true added value to our customers in the Nordic region by offering new products and thus fostering competition. This launch brings our powerful trading system to the Nordics and opens up the market to an unprecedented level of performance. Our ambition is clear: to become the preferred power exchange in the Nordic region too.”
Dr Thomas Siegl, Chief Risk Officer of ECC adds: “The clearing services offered by ECC are an integral part of this offering. We provide security for customers that want to become active in the Nordics by ensuring the physical and financial settlement of all transactions. The EPEX SPOT market participants benefit from the high clearing standards and solid risk management processes for trading in the four new countries. This completes the well-established suite already offered across Central Western Europe and Great Britain, reaching a total of 12 countries.”
The EU Regulation on Capacity Allocation and Congestion Management paved the way for EPEX SPOT to extend its services to regions outside the markets it historically operated.
-ENDS
The European Power Exchange EPEX SPOT SE and its affiliates operate physical short-term electricity markets in Central Western Europe, the United Kingdom and in Denmark, Finland, Norway and Sweden. As part of EEX Group, a group of companies serving international commodity markets, EPEX SPOT is committed to the creation of a pan-European power market. Over 300 members trade electricity across twelve countries on EPEX SPOT. 49% of its equity is held by HGRT, a holding of transmission system operators. For more information, please visit www.epexspot.com.
European Commodity Clearing (ECC) is the leading clearing house for energy and commodity products in Europe and the central clearing house for the Global Commodity Exchange, EEX Group. ECC assumes the counterparty risk and guarantees the physical and financial settlement of transactions, providing security and cross-margining benefits for its customers. As part of EEX Group, ECC provides clearing services for EEX, EEX Asia and EPEX SPOT with additional services provided to Power Exchange Central Europe (PXE). In addition, ECC also provides clearing services for the partner exchanges HUPX, HUDEX, NOREXECO, SEEPEX and SEMOpx. www.ecc.de