Germany's EEX and Bulgaria's IBEX in power futures tie-up
06/12/2018 09:55
FRANKFURT, Dec 6 (Reuters) - German power exchange EEX
DB1Gn.DE and Bulgarian peer IBEX have signed a cooperation
deal to introduce Bulgarian electricity futures in first half
2019 as the market-leading EEX bourse pushes further east.
Bulgaria is in the process of liberalising its state-run
energy systems while IBEX, owned by state-controlled stock
exchange BSE BSO.BB , aims to strengthen ties with other EU
wholesale power markets.
EEX plans to list euro-denominated weekly, monthly,
quarterly and annual futures contracts for baseload or 24-hour
power supply, to be settled against the day-ahead price
assessment by IBEX, the exchanges said in a joint statement.
Since EEX integrated the power products of Czech market PXE
in mid-2017, it has more than trebled cleared power trading
volumes in central and southeastern Europe, said Tobias Paulun,
chief strategy officer at EEX.
"Out cooperation with IBEX is another decisive step in the
development of power markets in southeast Europe," he said.
IBEX Chief Executive Konstantin Konstantinov said the
link-up would help to generate important long-term price
signals.
The EEX also said it will start Serbian and Slovenian power
futures contracts at the same date the Bulgarian futures
products are introduced. That will give EEX a presence in 20
market zones across Europe, strengthening its lead as biggesst
continental European power market, it said. urn:newsml:reuters.com:*:nL8N1S15BT
(Reporting by Vera Eckert
Editing by David Goodman
)
((vera.eckert@thomsonreuters.com; +49 69 7565 1228; Reuters
Messaging: vera.eckert.thomsonreuters.com@reuters.net))