Germany's EEX and Bulgaria's IBEX in Power Futures Tie-up
German power exchange EEX 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, reports Reuters.
Bulgaria is in the process of liberalising its state-run energy systems while IBEX, owned by state-controlled stock exchange BSE, 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.
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