A trusted price for power in Europe – ten years of building & developing Europe’s electricity markets
EPEX SPOT celebrates ten years since its first trade in 2009
Paris, 18 September 2019. The European Power Exchange EPEX SPOT kicks off its ten year anniversary celebration this September. The Exchange looks back on a decade of achievements that brought the European power sector closer together, and looks forward to further carving out its role in the energy world.
“EPEX SPOT and its markets have become pivotal for the electricity sector. The company also assumes an essential role within EEX Group, and we look forward to many more successful years of power spot trading” says Peter Reitz, Chairman of the Supervisory Board of EPEX SPOT.
Ralph Danielski, Chief Executive Officer of EPEX SPOT adds: "The reference price emerging from the Exchange’s liquid and transparent markets are a trusted indicator for investments and therefore an essential pillar of the energy transition.”
Markets – volumes, coverage and products more than doubled
Within ten years, the initially Franco-German initiative EPEX SPOT which was created as a joint venture of the exchanges European Energy Exchange (EEX) and Powernext has become a strong business covering the entire Central Western Europe (CWE) and Great Britain. EEX introduced power spot trading for Germany in 2000 while Powernext operated the French power spot market since 2001. In its first year under the EPEX SPOT company name, the Exchange registered 203 TWh of traded volume in 2009. This figure was more than doubled in the following decade, with 567 TWh traded in 2018 – a new record.
The company also grew in terms of market coverage: Starting off with market operations for Austria, France, Germany and Switzerland, new market areas followed soon. Today, the Exchange operates markets in the entire CWE and Great Britain and prepares the launch of trading in the Nordic region, in the Baltics and in Poland.
EPEX SPOT has been a forerunner in innovation on the power market, introducing its first flexibility product in 2014. Today, over 25% of German Intraday volumes are traded on 15 minute contracts, as these products are central for the integration of renewables. With the most diverse trading product portfolio in Europe, EPEX SPOT’s markets have become a cornerstone of the energy transition.
People – more talents to transform the power market
The company started off as a small startup with 10 employees, today 192 people from over 20 nationalities work from seven different offices. In 2015, EPEX SPOT joined forces with former APX Group, creating the first harmonised trading offer across Central Western Europe and Great Britain.
“The development and transformation of this company have been remarkable” says Ralph Danielski. Over time the teams have grown, and so has the scope and impact of their work. “At EPEX we believe that efficient markets are an indispensable asset to achieve the energy transition. Seeing how our solutions contribute to a better energy union is what keeps us going” he adds.
Europe – an integral part of the DNA
The European Power Exchange has played a pivotal role in the establishment of the European Internal Energy market with its many Market Coupling initiatives. Market Coupling ensures an optimal use of existing infrastructures, optimises cross-border flows of electricity according to price signals and contributes to security of supply. These efficiency gains maximise social welfare for European citizens.
EPEX SPOT’s markets connect countries, while offering country-specific services. Numerous projects on consumer empowerment and new market models lie ahead, while the sector is united in its fight against climate change.
After 10 years of power, EPEX SPOT would like to say thank you. For this special occasion, everyone at EPEX has gathered to send you their message: https://www.youtube.com/watch?v=vbFu3WAFRkM
-Ends
The European Power Exchange EPEX SPOT SE and its affiliates operate physical short-term electricity markets in Central Western Europe and the United Kingdom. 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. In the first half of 2019, 300 TWh were traded on EPEX SPOT markets. In 2018, its 289 members traded 567 TWh – a third of the domestic consumption in the eight countries covered. 49% of its equity is held by HGRT, a holding of transmission system operators. For more information, please visit www.epexspot.com.
In 2019, EPEX SPOT celebrates 10 years of power, the company’s tenth anniversary. More information about our history, along with a thank you message from our staff, is available here: https://www.epexspot.com/en/company-info/History_of_EPEX_SPOT_new