The European Power Exchange EPEX SPOT and its clearing house European Commodity Clearing (ECC) have successfully launched new After-Market contracts in Belgium and in the Netherlands.
These new offerings enable market participants to trade local hourly and 15 minute contracts even after delivery, until 12:30 pm CET for the Belgian market, and until 8:30 am on the day after delivery CET on the Dutch market. 21 members have registered for trading on the After-Market.
“After-Market contracts enable the adjustment of physical positions of our customers in the ex-post timeframe. By balancing their positions even after delivery, when all the final information on production and consumption is available, they are able to reduce their imbalance costs,” says Ralph Danielski, Chief Executive Officer of EPEX SPOT. “The addition of these contracts to our overall product portfolio, with a facilitated access through our trading platform, was a strong wish from our members.”
After-Market products are complementary to the Intraday market. Gate closure in Intraday continuous trading is five minutes before delivery. At delivery time, the After-market product opens, and positions can be balanced after delivery. The operational framework set by the Transmission System Operators in Belgium and in the Netherlands, ie Elia and Tennet NL, as well as the regulatory framework of both countries, are the determining factor for such products to be available for trading.
”The new After-Market products reflect the specific needs of local energy markets and their grid operators“ adds Dr Thomas Siegl, Chief Risk Officer of ECC. “Together with EPEX SPOT, we designed this specific product segment for the Belgian and Dutch TSOs as part of our services for the energy markets’ physical needs.”
EPEX SPOT operates power spot markets with 24/7 market operation services and subsequent clearing services provided by ECC. The new products are an additional feature to the range of Day-Ahead and Intraday trading with physical fulfilment to Capacity auctions and Local Flexibility products, for a total of 12 European market areas.
