The European Energy Exchange (EEX) and the Croatian Power Exchange (CROPEX) have signed an agreement to jointly develop a power derivatives market for Croatia.
Since launching in 2014, CROPEX, the local Power Exchange in Croatia, has actively grown its spot market, achieving a total trading volume of 6,447 GWh in their day-ahead and intraday markets in 2020. To further support this positive development, EEX and CROPEX have agreed to work together to introduce Power Derivatives for the Croatian market in 2022, subject to the approval of the relevant authorities and committees.
Dr Tobias Paulun, Chief Strategy Officer of EEX, says: “The cooperation with CROPEX is an important next step in the strategic development of the Central and South-Eastern European power markets”. Paulun continues; “Since the migration of the PXE Power Futures onto the EEX platform in 2017 and the further extension into the South-Eastern European power markets of Slovenia, Bulgaria and Serbia in 2019, we have more than tripled the cleared volumes in Central and South-Eastern Europe. With the introduction of Croatian Power Futures, we are facilitating our customers’ wish to further extend the offering in this region.”
Silvio Brkić, President of the Management Board of CROPEX, adds: “Our cooperation with EEX represents an important developmental step, ensuring additional benefits for our market participants. Establishing long term reference prices will not only enable price hedging but will positively contribute to the overall development and performance of the Croatian power market.”