EPEX SPOT bourse widens maximum price after intraday spikes

European Energy Exchange AG

11/04/2022 14:14

FRANKFURT, April 11 (Reuters) - Spot electricity exchange
EPEX SPOT on Monday said it will lift maximum clearing prices to
4,000 euros a megawatt hour (MWh) from 3,000 euros from May 10
in light of recent price spikes in hourly products caused by
market tightness on April 3 and 4.
    French spot market prices shot up at the end of March as
available capacity decreased due to extended maintenance
standstills in the nuclear reactor fleet while demand stood well
above normal due to unusually cold weather. They have fallen
since, however, as the situation has eased.
    "This decision (to move the price up) follows the high
prices of 2,712.99 euros ($2,955.26)/MWh and 2,987.78 euros
reached on April 3 (delivery April 4) in France in hours 0800
and 0900 (0600 and 0700 GMT) respectively," the exchange said in
a market message.
    It cited European Union energy regulation applying to the
so-called Single Day-Ahead Coupling (SDAC) provision operated by
a range of energy exchanges in the region, which governs
responses to such price events.
    The May 10 date is derived from the stipulation to trigger a
new maximum clearing price from five weeks after the day of the
event.
    EPEX SPOT, part of the EEX Group, operates in 13 mostly
western European markets, also including Britain and
Switzerland, and Poland to the east.
    The day-ahead French baseload power price  TRFRBD1  recorded
on Refinitiv Eikon on Monday was 40% below its March 31 level.

($1 = 0.9180 euros)

 (Reporting by Vera Eckert, editing by Ed Osmond)
 ((vera.eckert@thomsonreuters.com; +49 30 2201 33654;
@EckertVera;))