The European Power Exchange (EPEX SPOT) and the clearing house European Commodity Clearing (ECC) have introduced 15-minute continuous Intraday trading on the Belgian and Dutch local power spot markets. The first trading day was 10 July 2018.
“In Intraday trading, flexibility products with a sub-hourly modality are of growing importance, as they are indispensable to efficiently integrate renewables into the wholesale market,” says Jonas Törnquist, Chief Operating Officer of EPEX SPOT.
“The new contracts are designed to manage emerging flexibility challenges of power markets more efficiently. Therefore, the new products for the Dutch and Belgian markets bring a true benefit to customers active in these markets,” adds Dr Thomas Siegl (pictured), Chief Risk Officer of ECC.
Clearing and settlement of the new contracts are conducted by ECC, the clearing house for all markets operated by EPEX SPOT. The first 15-minute continuous product was launched by EPEX SPOT and ECC already in late 2011 on the German market, in mid 2013 on the Swiss Intraday market and in October 2015 on the Austrian market. Flexibility contracts including 15-minute and 30-minute products have reached a combined volume of 13.6 TWh in 2017.
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 2018, 284 TWh have been traded on EPEX SPOT markets. In 2017, its 285 members traded 535 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.
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