The European Energy Exchange (EEX) has registered its first trades in the new long-term Power Futures contracts.
On 5 October 2021, EEX registered a 10 MW transaction in EEX Spanish Power Futures for the delivery in the calendar year 2028 (which corresponds to a volume of 87,840 MWh) as well as for the delivery in 2029 (which corresponds to a volume of 87,600 MWh) with Audax Renovables SA being active as one of the counterparties trading via Renta 4 Banco SA.
Steffen Köhler, Chief Operating Officer of EEX, says: “We decided to offer our customers the opportunity to trade Power Futures in Germany, Spain and Italy up to 10 years, as subsidy schemes continue to be phased out across Europe. We noticed strong interest and a demand to find a trustful and secure market based solution. I am thrilled to see these first trades which prove that our contracts are meeting the market’s expectations for long-term hedging.”
By extending the power futures product suite from six to 10 years in Germany, Italy and Spain, EEX is facilitating long-term PPA hedging on the exchange. This enhancement enables customers to hedge their price exposure up to 10 years in advance with the standardised and financially settled power futures at EEX. At the same time, customer are able to hedge their future price risk and mitigate their counterparty risk through secured clearing, so that all positions will be fulfilled.
