EPEX SPOT Power for Today. Power for Tomorrow. Dr. Sandrine Wachon Tokyo I 29 January 2018

Transcription

1 資料 2-1 EPEX SPOT Power for Today. Power for Tomorrow. Dr. Sandrine Wachon Tokyo I 29 January 2018

2 EEX Group at a glance EEX Group is a group of specialised companies providing market platforms for energy and commodity products across the globe. The group offers market access and tailor-made solutions to trading participants as well as integrated process handling with its own clearing houses. EEX Group consists of the following companies: European Energy Exchange (EEX), the European Power Exchange (EPEX SPOT), Powernext, Cleartrade Exchange, Power Exchange Central Europe (PXE), Gaspoint Nordic, Nodal Exchange and the clearing companies European Commodity Clearing (ECC) and Nodal Clear. EEX Group is based in 16 worldwide locations and is part of Deutsche Börse Group. EEX Group is based in 16 worldwide locations and is part of Deutsche Börse Group. EEX Group,

3 Development of EEX Group EEX established in Leipzig through the merger of two German power exchanges. The clearing business is spun off into ECC. Cooperation launched between EEX and Powernext in power spot trading. EPEX SPOT is established. EEX and Powernext extend cooperation to the gas market. PEGAS is founded EEX acquires majority stake in Cleartrade Exchange. EEX holds 50 % share in the Danish gas exchange GasPoint Nordic. EEX acquires majority stake in Powernext and indirectly in EPEX SPOT. The gas markets are operated by Powernext under the PEGAS brand. APX incl. Belpex becomes a 100 % subsidary of EPEX SPOT. EEX acquires two thirds of the shares in the Praguebased PXE. CLTX becomes a wholly-owned subsidiary of EEX. The gas markets for Denmark and Austria, which are operated by Gaspoint Nordic and CEGH, were transferred to the PEGAS platform. EEX aqcuires 100 % of the US based Nodal Exchange. EEX Group,

4 EEX is the leading European Energy Exchange. Contracts on energy, environmental products, freight, metals and agriculturals EEX SPOT operates the power spot markets of the Group. Power: Day-ahead and intraday trading PEGAS is the central gas trading platform of EEX Group and bundles the liquidity of a large number of markets. Operated by Powernext ECC provides clearing as well as physical and financial settlement of the transactions. Central clearing house of EEX Group CLTX is a platform for trading in global commodity derivatives transactions. More than 40 derivatives contracts focusing on the Asian markets Powernext offers spot and derivatives trading for European gas markets and operates the register for French guarantees of origin. Gas products for AT, BE, DE, DK, FR, IT, NL, UK The Prague-based PXE is the centre of competence for the eastern European markets. Trading products for power in CZ, SK, HU, PL, RO Gaspoint Nordic is a company specialising in the Danish gas market. Part of the PEGAS platform since 2016 Nodal Exchange is a derivatives exchange in the North American energy markets.. Contracts on electricity and natural gas Nodal Clear is a CFTC registered derivatives clearing organization. Central clearing house of all Nodal Exchange contracts-. EEX Group,

5 EPEX SPOT: expertise for power spot market structure EEX Group HGRT 51% 49% 100% 100% Clearing activities Part of EEX Group

6 The organised market: principles - Access to an anonymous market - Level playing field between members - Financial guarantees through the Clearing House - Calculation and publication of transparent and fair price references

7 The role of the Exchange in the timeline of the market Derivatives > DAY-AHEAD MARKET > INTRADAY > MARKET Balancing Long and middle-term (Years/months/weeks) Anticipated covering of need of supply, optimisation of production means Short-term (One day before delivery) Balance of production and consumption Very short-term (several hours before delivery) Balance of production and consumption Real-time (minutes) System security DAY-AHEAD AUCTION - Optimisation of liquidity via an auction - Market areas: Germany/Austria/Luxembourg, France, Great Britain, the Netherlands, Switzerland and Belgium CONTINUOUS INTRADAY - Flexibility through continuous trading - Market areas: Germany/Luxemburg, France, Great Britain, the Netherlands, Switzerland, Belgium and Austria

8 EPEX SPOT : a European and an international success story EPEX SPOT created in 2008, roots going back to 2000 Societas Europaea headquartered in Paris 535 TWh of traded volumes in 2017: 464 TWh on the Dayahead market, 71 TWh on the Intraday market Over 285 Exchange Members Over 160 employees coming from 16 countries Offices in Amsterdam, Bern, Brussels, Leipzig, London and Vienna

9 The markets of EPEX SPOT Markets and services of the European Power Exchange EPEX SPOT Current EPEX markets Market Expansion Market operation services and 25% shares Market operation services Market coupling services 21 borders Area of 1600 TWh consumption Over 285 Exchange Members 535 TWh of traded volume in 2017

10 EPEX SPOT Market review 2017: Volumes and delivery zones DE/AT/LU: 280 TWh Thereof intraday: 47 TWh Share in consumption: 50% Delivery zones: 50Hertz, Amprion, APG, TenneT, TransnetBW NL: 35 TWh Thereof intraday: 1.5 TWh Share in consumption: 31% Delivery zone: TenneT FR: 110 TWh Thereof intraday: 4 TWh Share in consumption: 23% Delivery zone: RTE UK: 66 TWh Thereof intraday: 15 TWh Share in consumption: 22% Delivery zone: National Grid BE: 19 TWh Thereof intraday: 1 TWh Share in consumption: 22% Delivery zone: Elia CH: 25 TWh Thereof intraday: 2 TWh Share in consumption: 42% Delivery zone: Swissgrid

11 EEX Group: Facts and Figures More than 3,760 Employees more than 550 More than 1,900 TWh traded on the EEX Group power markets (2017) in 16 locations TWh traded on the PEGAS natural gas markets (2017) Participants more than 550 CO Emission Auctions more than Day-Ahead market coupling covering 19 From over 30 countries in 2017 European countries EEX Group,

12 Thank you for your attention! EPEX SPOT Paris 5 boulevard Montmartre Paris France Tel info@epexspot.com EPEX SPOT Amsterdam Atlas Arena Amsterdam Australia Building Hoogoorddreef BA Amsterdam The Netherlands Tel EPEX SPOT London 11 Westferry Circus Canary Wharf London E14 4HE United Kingdom EPEX SPOT Bern Marktgasse Bern Switzerland EPEX SPOT Leipzig Augustusplatz Leipzig Germany EPEX SPOT Brussels Boulevard de l Impératrice Bruxelles Belgium EPEX SPOT Wien Mayerhofgasse 1/ Wien Austria