Leipzig / Paris, 11 June 2015 – At its constituent meeting in Leipzig, the Members of the Exchange Council of EPEX SPOT elected Peter Heydecker as their Chairman. They also designated Dr. Michael Redanz from MVV Trading, Mr Andrea Siri from Edison Trading, and Dr. Bernhard Walter from EnBW Trading as Vice-Chairmen of the Exchange Council. The Council also appointed the following permanent guests: Mr. Thorsten Dietz from Tennet TSO GmbH, Mr. Manfred Pils from APG, Mr. Stefan Sewckow from Trianel GmbH, and Mr. Jan Horst Keppler from Université Paris-Dauphine as academic counsel.
“We are facing challenging developments in the electricity trading sector such as the creation of the pan-European power market and the increasing importance of Intraday power trading”, says Peter Heydecker, who has already been Exchange Council Chairman during the last term. “I am very happy to further accompany these evolutions.”
Moreover, the Exchange Council approved the launch of an organised market for trading of capacity guarantees in France. This market is based on the capacity mechanism introduced by the French Ministry of Ecology, Sustainable Development and Energy and the French electricity grid operator RTE. The capacity mechanism was set up in order to ensure security of supply in France, which might be challenged by a combination of fast increasing peakload and low profitability for capacity owners.
The development of an organised secondary market for capacity guarantees will help suppliers to fulfil their obligations and capacity owners to value their capacities. It also provides a transparent and reliable price reference for capacity guarantees. The market will be organised through several auctions per year, with trading of standardised guarantees for future winter periods. The capacity market is scheduled to be launched end of 2015.
“An organised market with a reliable price reference is crucial for a decentralised capacity mechanism”, says Jean-François Conil-Lacoste, Chairman of the Management Board of EPEX SPOT. “Its design takes into account the particular needs of the French power system while ever looking for strengthening the European energy-only market. We are looking forward to organising this new segment.”
The second Exchange Council meeting in 2015 was held on 10 June and was chaired by Peter Heydecker, Head of European Power at Vitol.
The Exchange Council of EPEX SPOT is an official body of the Exchange. 22 members and 4 permanent guests represent adequately the diversity of economic and corporate profiles that exists among the Exchange Members from various sectors: producers, power trading companies, transmission system operators, regional suppliers and financial service providers, as well as commercial consumers and academics. Its missions include in particular the adoption of the Exchange Rules and the Code of Conduct of EPEX SPOT and their amendments. The Exchange Council approves new trading systems as well as new contracts or market areas and approves the appointment of the Head of the Market Surveillance Office. It meets up quarterly.
The European Power Exchange EPEX SPOT SE operates the short-term electricity markets for Germany, France, Austria and Switzerland. EPEX SPOT owns 100% of APX Group (including Belpex), operator of the short-term electricity markets for the Netherlands, the United Kingdom and Belgium. Striving for the creation of a European single market for electricity, EPEX SPOT shares its expertise with partners across the continent and beyond. EPEX SPOT is a European company (Societas Europaea) in corporate structure and staff, based in Paris with offices in Amsterdam, Bern, Brussels, Leipzig, London and Vienna. 275 companies trade over 450 TWh of electricity on EPEX SPOT and APX every year – one third of its countries’ electricity consumption. EPEX SPOT is held by EEX Group, part of Deutsche Börse, and European electricity transmission system operators. For more information: www.epexspot.com
Data Sources: EPEX