EPEX SPOT - European Power Exchange

The European Power Exchange EPEX SPOT operates the organised wholesale market for power trading across 13 European countries. 615 TWh have been traded on EPEX SPOT in 2020 – one third of the yearly European electricity consumption.

300 companies, from electricity producers and suppliers to grid operators and industrial consumers, come together and place their orders on EPEX SPOT’s markets. EPEX SPOT then matches the aggregated supply and demand, in Day-Ahead and Intraday auctions and continuously, from hourly to 15-minute products.

By doing so, EPEX SPOT creates price signals which trigger decisions on all levels of the power system and optimise electricity flows across Europe. Further, they contribute to the transformation and decarbonisation of the energy sector and to the EU Green Deal via markets and contracts that foster the increasing integration of renewables.

EPEX SPOT’s markets stretch across Central Western Europe (CWE), Switzerland, the United Kingdom, the Nordics and Poland. Staff from 24 nations, based across 7 countries form a team where everyone can build on each other. This diverse team is crucial, as EPEX SPOT’s markets run 365 days a year around the clock – even during the difficult times of the COVID-19 pandemic.

EPEX SPOT’s teams share a common understanding of how to further improve as well as a crisp, clear idea of their mission. EPEX SPOT does more than match electricity supply and demand, they also contribute to security of supply for millions of people, increase social welfare and enable lower electricity prices – from industries to end consumers across Europe.

From Day-Ahead with physical fulfilment to Intraday trading, After-Market and Local Flexibility products – EPEX SPOT is a key partner in electricity trading, boosting innovation and providing a truly pan-European offer across the entire trading value chain.

Day-Ahead markets: the reference

EPEX SPOT operates daily Day-Ahead auctions in all of its markets 365 days a year. Apart from Great Britain and Switzerland, all markets are part of the European Single Day-Ahead Coupling which stretches across 20 markets from Portugal to Finland and from Ireland to Poland. In all its coupled countries, EPEX SPOT is approved as Nominated Electricity Market Operator. The Day-Ahead prices of EPEX SPOT have become a European reference.

 

Intraday markets: the performant industry leader

The Intraday markets of EPEX SPOT cover CWE, Great Britain, Switzerland, the Nordics and soon Poland. Intraday markets are mainly used for:

  • Plan generation and adjust purchases & sales closer to delivery
  • Managing forecast errors or unforeseen events
  • Adjusting from hourly positions to finer granularities (30 min or 15 min)
  • Offering flexible generation as a substitution for renewables
  • Enabling cross-border arbitrage and trading

 

On the Intraday market, EPEX SPOT offers continuous and auction trading. All Intraday continuous markets run on the M7 trading system, an industry standard in terms of performance and robustness. Four million orders are entered and 150k trades are processed each day on M7.

 

Innovations: After-Market & Local flexibility markets

EPEX SPOT strives to constantly create, innovate and find new solutions for the emerging challenges of a transforming power sector. They decentralise, digitise and decarbonise the energy trading sector – to remain one of Europe’s preferred power exchanges.

The After-Market is a new product on the continuous trading segment enabling trading participants to adjust physical positions in the ex-post timeframe, once the final information on production and consumption are available. It can be instrumental in reducing imbalance settlement costs. The products are available on the M7 trading system – allowing participants to trade Intraday & After-Market through one trading screen.

To foster the integration of renewable energy sources and to enhance the engagement of consumers and producers in the power market, EPEX SPOT develops local flexibility markets. A neutral and transparent market platform pools local flexibility offers. Market participants gain new opportunities to value their flexible assets, system operators obtain new tools to manage congestions and to optimise grid planning.

 

Services to other Power Exchanges

As part of their mission to create a pan-European electricity market, servicing other Power Exchanges is part of EPEX SPOT’s business model.

Market operation and coupling services in Eastern Europe

The South East European Power Exchange SEEPEX currently offers Day-Ahead trading in Serbia. EPEX SPOT provides market operating services to SEEPEX and holds 25% of the shares of the Exchange.

The Hungarian Power Exchange HUPX provides transparent and reliable reference prices for the Day-Ahead market in Hungary, serviced by EPEX SPOT. This cooperation contributes to the harmonisation of the trading and clearing systems in Europe, facilitating further regional integration of the Eastern European electricity market.

Since 2014, the so-called 4M Market Coupling connects the Day-Ahead markets of Czech Republic, Hungary, Romania and Slovakia. The power exchanges OKTE of Slovakia and HUPX of Hungary have selected EPEX SPOT as their service provider for the operation of their coupling solution.

Servicing the Integrated Single Electricity Market in Ireland

EPEX SPOT and ECC were chosen to support the Irish transmission system operators EirGrid and its affiliate SONI to set up the new local power exchange SEMOpx, which operates coupled Day-ahead and Intraday markets in Ireland since 30 September 2018. ECC performs clearing and settlement for all transactions concluded on SEMOpx.

 

Governance

EPEX SPOT is a European company (Societas Europaea) in corporate structure and staff, based in Paris with offices or affiliates in Amsterdam, Berlin, Bern, Brussels, London and Vienna. As part of EEX Group, a group of companies serving international commodity markets, EPEX SPOT is committed to the creation of a pan-European power market. 49% of its equity is held by HGRT, a holding of transmission system operators.

2021

Launch of Day-Ahead market in Poland (now 13 countries in total), Intraday to follow soon; launch of After-Market in Belgium and the Netherlands

2020

Launch of Day-Ahead & Intraday markets in Denmark, Finland, Norway and Sweden (12 countries in total); Launch of 15- and 30-minute Intraday auctions across Central Western Europe

2019

Launch of cross-border Intraday auctions in Switzerland, coupled with the Italian market; launch of pilot project for local flexibility markets in Northern Germany

2018

Launch of the European Single Intraday Coupling, covering 14 countries; launch of services for Irish market

2017

Launch of 30-minute contracts in Germany, Austria and Switzerland

2016

Launch of French capacity market

2015

Merger with APX, EPEX SPOT covers also Belgium, the Netherlands and the United Kingdom (8 countries in total)

2014

Extension of Market Coupling to North Western Europe (Nordic and Baltic countries) and South Western Europe (Spain and Portugal); launch of the first 15-minute Intraday auction in Germany

2013

Launch of Intraday market in Switzerland

2012

Launch of Intraday market in Austria

2011

Launch of the first 15-minute contracts on the German Intraday market

2010

Launch of Market Coupling in Central Western Europe

2009

Creation through merger of power spot activities from German EEX and French Powernext; covered markets: France (Day-Ahead & Intraday), Germany (Day-Ahead & Intraday), Austria (Day-Ahead) and Switzerland (Day-Ahead)

Facts & Figures

Headquarters

5 Boulevard Montmartre

75002 Paris

France

Date of foundation

17 September 2008

CEO and Chairman

Ralph Danielski

Number of employees (end 2020)

202

Traded commodities and traded volumes in 2020

Total traded volume: 615 TWh

 

Thereof day-ahead: 504 TWh

 

Thereof Intraday: 111 TWh

 

Thereof Intraday auctions: 10 TWh

 

 

 

Europex GA member

Ralph Danielski

CEO and Chairman of the Management Board

Europex contact person

Davide Orifici

Director Public & Regulatory Affairs and Communications
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General contact details

EPEX SPOT

5 Boulevard Montmartre
75002 Paris
France