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CCEE - EPEX SPOT Partnership

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Epex Spot: The European Power Market facilitator and beyond

Epex Spot: The European Power Market facilitator and beyond

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  • 1. EPEX SPOT: The European Power Marketfacilitator and beyond…CCEE – EPEX SPOT PartnershipSao Paulo, 24 April 2013Sandrine Wachon – Head of International Business Development© EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 2. 2“The price in Germany and France actually is the referenceprice for the rest of Europe. It is of an utmost importancethat this reference price comes from a transparent marketwith sufficient volumes traded and with a sufficient numberof actors. I believe, strongly believe, that with propersupervision of the exchange the price will and should betrusted by all market participants and all political decisionmakers, myself included.”(Speech by the former European Commissioner for Energy, Andris Piebalgs,on the joint press conference announcing the creation of EPEX SPOT on 30 May 2008)The European Power Exchange: EPEX SPOT…© EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 3. 3Agenda1. The role of power exchanges in the European market2. EPEX SPOT, a model to create trust and liquidity3. And then…© EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 4. 4Power exchanges: one of the pillars of thepower market© EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 5. 5A Power Exchange: what for?Power Exchanges bundle supply and demand of companies and professionals of the power business(producers, utilities, banks, industrial consumers) and allow to create a neutral market price in atransparent, instant and fair manner.EPEX SPOT is a short-term (“spot”) Exchange, the delay between trading and delivery ranges from 24 hours(Day-Ahead market) to 45 minutes (Intraday market).© EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 6. 6A model to create liquidity and price referencesTRADINGCLEARINGDELIVERY PAYMENTBROADCASTAnonymousMultilateralEasy accessStandard ProductsReliabilitySecurityLIQUIDITYPriceReferencesExchanges functions in the market: What? What for?© EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 7. 7• These mechanisms are complementary  One finds them on the samemarket segments.Organisation of the electricity exchangesOver The Counter (OTC) Organised MarketProducts • Tailor-made • StandardisedNegotiation • Phone• Electronic platform• Relations• Electronic platform• Anonymity• Market rulesTransparency • No • YesSecurity • Transactions notsecured• Transactions totallysecured
  • 8. 8Power Exchanges in the timeline of the market© EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 9. 9• manages a market• centralized and transparent ensuring liquidity and non-discriminatory access• supervised by a structuring regulation relying on market rules and astrong presence of regulation authorities (AMF, CRE, SMWA,BNETzA, ElCom, E-Control)• and guarantees the security of transactions• guarantees financial commitments & systematic risks zero credit risk• guarantee physical commitments zero industrial riskAdvantages of the organized market
  • 10. 10Agenda1. The role of power exchanges in the European market2. EPEX SPOT, a model to create trust and liquidity3. And then…© EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 11. 11© EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SEEPEX SPOT: our objectives
  • 12. 12Corporate facts60 employeeswith 14 nationalitiesA European success so far…Branch in LeipzigBased in ParisCreated in 2008339 TWh traded in 2012205 members© EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 13. 13© EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SEShareholder structure: federate interests
  • 14. 14Overall governance and supervision© EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 15. 15The Exchange Council• Official body of the Exchange• 16 members from various sectors• Adopts the Rules & Regulations andtrading systems of the Exchange• Approves products and activities• Takes position to European powermarket development© EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 16. 16EPEX SPOT Market Surveillance: A singlepoint of contact for supervisory authorities EPEX SPOT Market Surveillance reports regularly or upon request to allsupervisory authorities© EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 17. 17Markets, volumes 2012 and delivery zonesDelivery zones: 8 % increase of volume in 2012261 TWh+ 9 %Intraday: 15,8 TWh (± 0 %)17 TWh+ 38 %339 TWh in 2012on all EPEX markets61 TWh420028001300Share of nationalconsumption:© EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE± 0 %Intraday: 2,2 TWh (+ 28 %)
  • 18. 18Who are buyers and sellers on EPEX SPOT?In total, EPEX SPOT holds 205 Exchange Members(Day-Ahead & Intraday) as of 3 April 2013.© EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SEDay-AheadIntraday
  • 19. 19Members of EPEX SPOT© EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 20. 20Who are sellers and buyers on EPEX SPOT?© EPEX SPOT 2013 – All rights reserved – Use of information prohibited without prior written consent of EPEX SPOT SE
  • 21. 21Exchange structure© EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 22. 22Contractual Relationships© EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 23. 23Agenda1. The role of power exchanges in the European market2. EPEX SPOT, a model to create trust and liquidity3. And then…© EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 24. 24Our partnership: a sustainable commitmentDesign aBrazilianorganizedmarket• Step-wise development of an organized market• Start with a week-ahead market• Introduce new products closer to real-time if the regulatoryenvironment allows it• Customer-oriented  high level standard in terms of performances(system, responsiveness, product design etc.)• Lean structure .© EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SEClearing • Proven and efficient clearing solutions to be proposed by ECCBuilding a Smart Brazilian Electricity Market
  • 25. 25The market results areavailable on EPEX SPOT’sWebsitewww.epexspot.comFor any furtherinformation:s.wachon@epexspot.comThank you for your attention!© EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 26. 262001: Establishment of Powernext SA7/2002: Merger of Energy Exchanges Frankfurt-Leipzig12/2006: Switzerland becomes a new marketDay-Ahead volumes on all 3 hubs since 20009/2008: Creation of EPEX SPOT SE1/2009: Transfer of Powernext Power Spot into EPEX SPOT SE9/2009: Transfer of EEX Power Spot into EPEX SPOT SE© EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE0358101315182023252830Jun-00Sep-00Dec-00Mar-01Jun-01Sep-01Dec-01Mar-02Jun-02Sep-02Dec-02Mar-03Jun-03Sep-03Dec-03Mar-04Jun-04Sep-04Dec-04Mar-05Jun-05Sep-05Dec-05Mar-06Jun-06Sep-06Dec-06Mar-07Jun-07Sep-07Dec-07Mar-08Jun-08Sep-08Dec-08Mar-09Jun-09Sep-09Dec-09Mar-10Jun-10Sep-10Dec-10Mar-11Jun-11Sep-11Dec-11Mar-12Jun-12Sep-12Dec-12Mar-13TWhDE/AT FR

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