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EPEX SPOT: The European Power Market
facilitator and beyond…
CCEE – EPEX SPOT Partnership
Sao Paulo, 24 April 2013
Sandrine 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
“The price in Germany and France actually is the reference
price for the rest of Europe. It is of an utmost importance
that this reference price comes from a transparent market
with sufficient volumes traded and with a sufficient number
of actors. I believe, strongly believe, that with proper
supervision of the exchange the price will and should be
trusted by all market participants and all political decision
makers, 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
Agenda
1. The role of power exchanges in the European market
2. EPEX SPOT, a model to create trust and liquidity
3. 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
Power exchanges: one of the pillars of the
power market
© EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
5
A 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 a
transparent, 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
A model to create liquidity and price references
TRADING
CLEARING
DELIVERY PAYMENT
BROADCAST
Anonymous
Multilateral
Easy access
Standard Products
Reliability
Security
LIQUIDITY
Price
References
Exchanges 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
• These mechanisms are complementary  One finds them on the same
market segments.
Organisation of the electricity exchanges
Over The Counter (OTC) Organised Market
Products • Tailor-made • Standardised
Negotiation • Phone
• Electronic platform
• Relations
• Electronic platform
• Anonymity
• Market rules
Transparency • No • Yes
Security • Transactions not
secured
• Transactions totally
secured
8
Power 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
• manages a market
• centralized and transparent ensuring liquidity and non-
discriminatory access
• supervised by a structuring regulation relying on market rules and a
strong 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 risk
Advantages of the organized market
10
Agenda
1. The role of power exchanges in the European market
2. EPEX SPOT, a model to create trust and liquidity
3. 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© EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
EPEX SPOT: our objectives
12
Corporate facts
60 employees
with 14 nationalities
A European success so far…
Branch in Leipzig
Based in Paris
Created in 2008
339 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© EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
Shareholder structure: federate interests
14
Overall 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
The Exchange Council
• Official body of the Exchange
• 16 members from various sectors
• Adopts the Rules & Regulations and
trading systems of the Exchange
• Approves products and activities
• Takes position to European power
market development
© EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
16
EPEX SPOT Market Surveillance: A single
point of contact for supervisory authorities
 EPEX SPOT Market Surveillance reports regularly or upon request to all
supervisory authorities
© EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
17
Markets, volumes 2012 and delivery zones
Delivery zones:
 8 % increase of volume in 2012
261 TWh
+ 9 %
Intraday: 15,8 TWh (± 0 %)
17 TWh
+ 38 %
339 TWh in 2012
on all EPEX markets
61 TWh
42
00
28
00
13
00
Share of national
consumption:
© 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
Who 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 SE
Day-Ahead
Intraday
19
Members 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
Who 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
Exchange structure
© EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
22
Contractual Relationships
© EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
23
Agenda
1. The role of power exchanges in the European market
2. EPEX SPOT, a model to create trust and liquidity
3. 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
Our partnership: a sustainable commitment
Design a
Brazilian
organized
market
• Step-wise development of an organized market
• Start with a week-ahead market
• Introduce new products closer to real-time if the regulatory
environment 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 SE
Clearing • Proven and efficient clearing solutions to be proposed by ECC
Building a Smart Brazilian Electricity Market
25
The market results are
available on EPEX SPOT’s
Website
www.epexspot.com
For any further
information:
s.wachon@epexspot.com
Thank 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
2001: Establishment of Powernext SA
7/2002: Merger of Energy Exchanges Frankfurt-Leipzig
12/2006: Switzerland becomes a new market
Day-Ahead volumes on all 3 hubs since 2000
9/2008: Creation of EPEX SPOT SE
1/2009: Transfer of Powernext Power Spot into EPEX SPOT SE
9/2009: 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 SE
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CCEE - EPEX SPOT Partnership

  • 1. EPEX SPOT: The European Power Market facilitator and beyond… CCEE – EPEX SPOT Partnership Sao Paulo, 24 April 2013 Sandrine 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 reference price for the rest of Europe. It is of an utmost importance that this reference price comes from a transparent market with sufficient volumes traded and with a sufficient number of actors. I believe, strongly believe, that with proper supervision of the exchange the price will and should be trusted by all market participants and all political decision makers, 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. 3 Agenda 1. The role of power exchanges in the European market 2. EPEX SPOT, a model to create trust and liquidity 3. 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. 4 Power exchanges: one of the pillars of the power market © EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 5. 5 A 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 a transparent, 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. 6 A model to create liquidity and price references TRADING CLEARING DELIVERY PAYMENT BROADCAST Anonymous Multilateral Easy access Standard Products Reliability Security LIQUIDITY Price References Exchanges 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 same market segments. Organisation of the electricity exchanges Over The Counter (OTC) Organised Market Products • Tailor-made • Standardised Negotiation • Phone • Electronic platform • Relations • Electronic platform • Anonymity • Market rules Transparency • No • Yes Security • Transactions not secured • Transactions totally secured
  • 8. 8 Power 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 a strong 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 risk Advantages of the organized market
  • 10. 10 Agenda 1. The role of power exchanges in the European market 2. EPEX SPOT, a model to create trust and liquidity 3. 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 SE EPEX SPOT: our objectives
  • 12. 12 Corporate facts 60 employees with 14 nationalities A European success so far… Branch in Leipzig Based in Paris Created in 2008 339 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 SE Shareholder structure: federate interests
  • 14. 14 Overall 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. 15 The Exchange Council • Official body of the Exchange • 16 members from various sectors • Adopts the Rules & Regulations and trading systems of the Exchange • Approves products and activities • Takes position to European power market development © EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 16. 16 EPEX SPOT Market Surveillance: A single point of contact for supervisory authorities  EPEX SPOT Market Surveillance reports regularly or upon request to all supervisory authorities © EPEX SPOT SE - Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 17. 17 Markets, volumes 2012 and delivery zones Delivery zones:  8 % increase of volume in 2012 261 TWh + 9 % Intraday: 15,8 TWh (± 0 %) 17 TWh + 38 % 339 TWh in 2012 on all EPEX markets 61 TWh 42 00 28 00 13 00 Share of national consumption: © 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. 18 Who 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 SE Day-Ahead Intraday
  • 19. 19 Members 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. 20 Who 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. 21 Exchange structure © EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 22. 22 Contractual Relationships © EPEX SPOT SE – Any use of information contained in this document is expressly prohibited without prior written consent of EPEX SPOT SE
  • 23. 23 Agenda 1. The role of power exchanges in the European market 2. EPEX SPOT, a model to create trust and liquidity 3. 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. 24 Our partnership: a sustainable commitment Design a Brazilian organized market • Step-wise development of an organized market • Start with a week-ahead market • Introduce new products closer to real-time if the regulatory environment 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 SE Clearing • Proven and efficient clearing solutions to be proposed by ECC Building a Smart Brazilian Electricity Market
  • 25. 25 The market results are available on EPEX SPOT’s Website www.epexspot.com For any further information: s.wachon@epexspot.com Thank 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. 26 2001: Establishment of Powernext SA 7/2002: Merger of Energy Exchanges Frankfurt-Leipzig 12/2006: Switzerland becomes a new market Day-Ahead volumes on all 3 hubs since 2000 9/2008: Creation of EPEX SPOT SE 1/2009: Transfer of Powernext Power Spot into EPEX SPOT SE 9/2009: 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 SE 0 3 5 8 10 13 15 18 20 23 25 28 30 Jun-00 Sep-00 Dec-00 Mar-01 Jun-01 Sep-01 Dec-01 Mar-02 Jun-02 Sep-02 Dec-02 Mar-03 Jun-03 Sep-03 Dec-03 Mar-04 Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 TWh DE/AT FR