DESCRIPTION OF EPEX SPOT MARKETS INDICES
|
|
- Brian Hodges
- 7 years ago
- Views:
Transcription
1 DESCRIPTION OF EPEX SPOT MARKETS INDICES Updated on October 2015
2 SUMMARY 1 ABOUT DAY-AHEAD AUCTION INDICES European Electricity Index (ELIX) German/Austrian Physical Electricity Index (Phelix) Swiss Electricity Index (Swissix) French Electricity Index INTRADAY CONTINUOUS INDICES Hourly Indexes (for Germany/Austria, Switzerland and France) minute Indexes (Germany/Austria) ID 3 -Price (Germany) INTRADAY AUCTION INDICES minute Call DE (Germany) Page 2
3 1 ABOUT The European Power Exchange operates the power Spot markets for Germany, France, Austria and Switzerland. EPEX SPOT also provides market operation services for the Hungarian Power Exchange HUPX and coupling services for 4M Market Coupling on behalf of the Slovakian, Hungarian and Romanian Power Exchanges. Since 4 May 2015, EPEX SPOT has become 100% owner of APX Group including Belpex. APX operates the power Spot markets for the Netherlands, the United Kingdom and Belgium. EPEX SPOT is a European company (Societas Europaea) based in Paris with branches in Leipzig, Vienna and Bern, as well as offices in Amsterdam, London and Brussels. 275 companies are active on EPEX SPOT and APX. 382 TWh were traded on EPEX SPOTs markets in 2014, and 92 TWh on APX. An index is a figure representative of a series of data, in this case a series of prices. Page 3
4 2 DAY-AHEAD AUCTION INDICES 2.1 European Electricity Index (ELIX) ELIX ELIX refers to the European Electricity Index; it is calculated and published as ELIX Base and ELIX Peak. ELIX is a registered trademark of European Energy Exchange AG and EPEX SPOT SE. ELIX is calculated on the basis of aggregated bid and offer curves for every single hour of the day-ahead auction and according to the rules of. For aggregation of bid and offer curves, market areas Germany, Austria, France and Switzerland are taken into account under the assumption of uncongested transmission capacities between those market areas. ELIX is based on the calculation method but not on results of the dayahead auctions and is therefore not based on market prices. ELIX Day Base is the simple average price of the uncongested hourly prices for the hours 1 to 24. ELIX Day Base is calculated for all calendar days of the year. ELIX Day Peak is the simple average price of the uncongested hourly prices for the hours 9 to 20. ELIX Day Peak is calculated for all calendar days of the year. For ELIX Day Base as well as for ELIX Day Peak, a monthly average value can be calculated (ELIX Month Base, ELIX Month Peak). ELIX Month Base is the simple average (arithmetic mean) of all ELIX Day Base of the month. ELIX Month Peak is the simple average (arithmetic mean) of all ELIX Day Peak for all days Monday to Friday of the month. Page 4
5 2.2 German/Austrian Physical Electricity Index (Phelix) PHELIX Phelix refers to the Physical Electricity Index and is calculated and published as Phelix Base and Phelix Peak. Phelix, Phelix Base and Phelix Peak are registered trademarks of the European Energy Exchange AG. Phelix Day Base is the average price of the hours 1 to 24 for electricity traded on the Spot market. It is calculated for all calendar days of the year as the simple average of the auction prices for the hours 1 to 24 in the market area Germany/Austria disregarding power transmission bottlenecks. Phelix Day Peak is the average price of the hours 9 to 20 for electricity traded on the Spot market. It is calculated for all calendar days of the year as the simple average of the auction prices for the hours 9 to 20 in the market area Germany/Austria disregarding power transmission bottlenecks. For Phelix Day Base as well as for Phelix Day Peak a monthly average price is calculated (Phelix Month Base, Phelix Month Peak). Phelix Month Base is calculated as the simple average (arithmetic mean) of all Phelix Day Base for all days of the month. Phelix Month Peak is calculated as the simple average (arithmetic mean) of all Phelix Day Peak for all days Monday to Friday of the month. Page 5
6 2.3 Swiss Electricity Index (Swissix) SWISSIX Swissix refers to the Swiss Electricity Index and is calculated and published as Swissix Base and Swissix Peak. Swissix is a registered trademark of the European Energy Exchange AG. Swissix Day Base is the average price of the hours 1 to 24 for electricity traded on the Spot market. It is calculated for all calendar days of the year as the simple average of the auction prices for the hours 1 to 24 in the market area Switzerland. Swissix Day Peak is the average price of the hours 9 to 20 for electricity traded on the Spot market. It is calculated for all calendar days of the year as the simple average of the auction prices for the hours 9 to 20 in the market area Switzerland. For Swissix Day Base as well as for Swissix Day Peak a monthly average price is calculated (Swissix Month Base, Swissix Month Peak). Swissix Month Base is calculated as the simple average (arithmetic mean) of all Swissix Day Base for all days of the month. Swissix Month Peak is calculated as the simple average (arithmetic mean) of all Swissix Day Peak for all days Monday to Friday of the month. Page 6
7 2.4 French Electricity Index EPEX DAY AHEAD AUCTION FR EPEX DAY AHEAD AUCTION FR refers to the French Electricity Index. It is a registered trademark of. EPEX DAY AHEAD AUCTION FR Base is the average price of the hours 1 to 24 for electricity traded on the Spot market. It is calculated for all calendar days of the year as the simple average of the auction prices for the hours 1 to 24 in the market area France. EPEX DAY AHEAD AUCTION FR Peak is the average price of the hours 9 to 20 for electricity traded on the Spot market. It is calculated for all calendar days of the year as the simple average of the auction prices for the hours 9 to 20 in the market area France. Page 7
8 3 INTRADAY CONTINUOUS INDICES 3.1 Hourly Indexes (for Germany/Austria, Switzerland and France) HOURLY INTRADAY CONTINUOUS INDEX The Hourly Intraday Continuous Index is a registered trademark of. The Hourly Intraday Continuous Index is calculated for each delivery day and takes into account trades that occurred on that specific day and on the day before. Cross border trades are taken into account in the calculation of the index. Cross-trades (i.e. trades for which the same counterparty is on the buy and the sell side) are excluded. The Hourly Intraday Continuous Index is based on hourly trades only and block trades are therefore excluded from the calculation. Each hourly Index is a volume-weighted average of the price of all transactions for a certain delivery hour on one specific market area (Germany/Austria, France or Switzerland). The Hourly Intraday Continuous Index Base corresponds to the simple average price of the 24 indices between the Hours 1 to 24 of a specific day on one specific market area (Germany/Austria, France or Switzerland). The Hourly Intraday Continuous Index Peak corresponds to the simple average price of the 12 indices between the Hours 9 to 20 of a specific day on one specific market area (Germany/Austria, France or Switzerland). If no trade has occurred on a specific delivery hour, then the hourly index value is replaced by the EPEX SPOT DAY AHEAD AUCTION price for this specific hour and the concerned market area (Germany/Austria, France or Switzerland).. Page 8
9 minute Indexes (Germany/Austria) 15-MIN INTRADAY CONTINUOUS INDEX The 15-minute Continuous Intraday Index is a registered trademark of. The 15-minute Continuous Intraday Index is calculated for each delivery day and takes into account trades that occurred on that specific day and on the day before. Cross border trades are taken into account in the calculation of the index. Cross-trades (i.e. trades for which the same counterparty is on the buy and the sell side) are excluded. The 15-minute Continuous Intraday Index is based on 15-minute trades only. Each 15-minute Index is a volume-weighted average of the price of all transactions for a certain delivery 15-minute period on one specific market area (Germany/Austria). The 15-minute Continuous Intraday Index Base corresponds to the simple average price of the 24 indices between the Hours 1 to 24 of a specific day on one specific market area (Germany/Austria). The 15-minute Continuous Intraday Index Peak corresponds to the simple average price of the 12 indices between the Hours 9 to 20 of a specific day on one specific market area (Germany/Austria). If no trade has occurred on a specific 15-minute period, we apply an arithmetic rule to match with the Hourly Intraday Continuous Index for this specific 15-minute period on the concerned market area (Germany/Austria). Example: Hour 1 index: 20 /MWh 00:00-00:15 index: 25 /MWh 00:15-00:30 index: 20 /MWh 00:30-00:45 index: 15 /MWh 00:45-01:00: no transactions 00:45-01:00 index calculation: X= 20*4 ( ) = 20 /MWh Page 9
10 3.3 ID 3 -Price (Germany) ID 3 -Price The ID 3 -Price is a registered trademark of. The ID 3 -Price is calculated for each delivery day and takes into account trades that occurred on that specific day and on the day before. Cross border trades with one leg (Buy/Sell) in Germany are taken into account in the calculation of the index. Cross-trades (i.e. trades for which the same counterparty is on the buy and the sell side) are excluded. The ID 3 -Price is calculated for 15-minute and hourly German products. Each ID 3 -Price is a volume-weighted average of the price of all transactions for a certain delivery period (15-minute or hour) on one specific market area (Germany) over the last three hours before start of delivery of the product. Example: For quarter 21qh1 (delivery from 20:00 to 20:15), the index is the volume-weighted average of all transactions with time stamp between and If no trades occurred during these last three hours before start of delivery of the product, the averaging window is extended to the whole trading period of the product: For 15-minute products: If no trades at all are present the Intraday Auction value is used If no value are available for the Intraday auction The hourly Intraday value is used For Hourly products: If no trades at all are present the day-ahead auction result is used. Page 10
11 4 INTRADAY AUCTION INDICES minute Call DE (Germany) 15-MINUTE CALL DE The 15-minute Call DE Auction Intraday Index is a registered trademark of. 15-minute Call DE Auction Intraday Index Base is the average price of the hours 1 to 24 for electricity traded on the 15-minute intraday auction market. It is calculated for all calendar days of the year as the simple average of the auction prices for the hours 1 to 24 in the market area Germany disregarding power transmission bottlenecks. 15-minute Call DE Auction Intraday Index Peak is the average price of the hours 9 to 20 for electricity traded on the 15-minute intraday auction market. It is calculated for all calendar days of the year as the simple average of the auction prices for the hours 9 to 20 in the market area Germany disregarding power transmission bottlenecks. Page 11
EPEX SPOT reaches in 2015 the highest spot power exchange volume ever
PRESS RELEASE EPEX SPOT reaches in 2015 the highest spot power exchange volume ever New, integrated exchange reaches a total of 566 TWh traded, up by 19% UK and France power markets flourish, reaching
More informationEEX European Power Futures and Introduction of Cap Futures
EEX European Power Futures and Introduction of Cap Futures Tim Greenwood, Steffen Riediger, Dr. Maximilian Rinck Essen, 11 February 2015 Agenda 1. Review volumes and trends in 2014 2. EEX Power Derivatives
More informationCopyright 2015 All rights reserved. Phelix Power Futures
Phelix Power Futures EEX at a glance The European Energy Exchange develops, operates and connects secure, liquid and transparent markets for energy and related products. EEX is a regulated market according
More informationPower Exchanges and Market Coupling tools for mitigating energy costs favoring EU competitiveness
Power Exchanges and Market Coupling tools for mitigating energy costs favoring EU competitiveness Brussels, April 30 th 2014 Dr. Wolfram Vogel Director Public Affairs & Communications, EPEX SPOT Liberalization
More informationPower market integration. Geir-Arne Mo Team Lead Nordic Spot Trading Bergen Energi AS
Power market integration Geir-Arne Mo Team Lead Nordic Spot Trading Bergen Energi AS 1 Geir-Arne Mo Some background information: Working for Bergen Energi since 2015 Team Lead Nordic Spot Trading I work
More informationEuropean Power Exchanges Challenges for market integration
Mikael Lundin CEO Nord Pool Spot AS European Power Exchanges Challenges for market integration Helsinki, March 17 th 2011 About Nord Pool Spot Nord Pool Spot runs the largest market for power in the world
More informationPower Derivatives Markets. Leipzig, 16 June 2016
Power Derivatives Markets Leipzig, 16 June 2016 Market Coverage EEX Group Power Derivatives Exchange-traded EEX Power Futures EEX Trade Registration Services for Power Futures Exchange-traded PXE Power
More informationGLOSSARY. Issued by Nord Pool Spot
GLOSSARY Issued by Nord Pool Spot Date: September 29, 2011 Glossary Nord Pool Spot Area Price Balancing market Bidding area Bilateral contract Block bid Whenever there are grid congestions, the Elspot
More informationFRAUNHOFER INSTITUTE FOR SOLAR ENERGY SYSTEMS ISE
FRAUNHOFER INSTITUTE FOR SOLAR ENERGY SYSTEMS ISE Power generation from renewable energy in Germany assessment of 2015 Prof. Dr. Bruno Burger Fraunhofer Institute for Solar Energy Systems ISE Freiburg,
More informationElectricity Exchanges in South Asia The Indian Energy Exchange Model
Electricity Exchanges in South Asia The Indian Energy Exchange Model 18 Mar 14 Rajesh K Mediratta Director (BD) rajesh.mediratta@iexindia.com www.iexindia.com In this presentation Overview - Indian Market
More informationIntroduction Anders Plejdrup Houmøller, CEO Houmoller Consulting ApS
Introduction Anders Plejdrup Houmøller, CEO Houmoller Consulting ApS Appendix 1 defines what intra-day trading of electricity means in a large part of Europe. Appendix 2 contains a map of 5 of the synchronous
More informationCreation data : 16/07/2012 Status: to be validated Version : 1.0 Author(s): EPEX Spot. Trading on behalf (members procedure)
Trading on behalf Summary Objective of the procedure Concerned persons Describe actions to be taken by EPEX SPOT member to submit orders in case the submission on behalf procedure is triggered. EPEX SPOT
More informationEuropean Energy Exchange EEX - Alternative for the Development of the Bulgarian Electricity Market
Doi:10.5901/ajis.2015.v4n1s2p259 Abstract European Energy Exchange EEX - Alternative for the Development of the Bulgarian Electricity Market Assoc. Prof. Dr. Todor Nedev Department of Finance University
More informationSimulation of the Central European Market for Electrical Energy
Simulation of the Central European Market for Electrical Energy T. Mirbach and H.-J. Haubrich RWTH Aachen University Institute of Power Systems and Power Economics Schinkelstr. 6, D-52056 Aachen, Germany
More informationEPEX SPOT Markets and Products 2012 Review & Current developments
EPEX SPOT Markets and Products 2012 Review & Current developments Sylvie Tarnai & Katharina Niciejewska EEX Summer Workshop Marriott Hotel Leipzig 6 th June 2013 EPEX SPOT 2013 All rights reserved Use
More informationTrading on behalf (members procedure)
Trading on behalf Summary Objective of the procedure Describe actions to be taken by EPEX SPOT member to submit orders in case the submission on behalf procedure is triggered. Concerned persons EPEX SPOT
More informationThe pivotal role of TSOs in European energy market integration
The pivotal role of TSOs in European energy market integration To meet the needs of modern society, the energy market is having to change. Concerns about environmental sustainability and dwindling supplies
More informationMarket coupling: looking at the future of the Italian Power Exchange
Market coupling: looking at the future of the Italian Power Exchange Anna Creti, Eileen Fumagalli IEFE Università Bocconi Elena Fumagalli Politecnico di Milano Giusi Squicciarini Autorità per l energia
More informationTRADING PLATFORM CLEARING AND SETTLEMENT MEMBERSHIP
TRADING PLATFORM CLEARING AND SETTLEMENT MEMBERSHIP TRADING PLATFORM Wilhelm Söderström, Nord Pool Spot Ante Mikulić, CROPEX European day ahead market A fair and transparent calculation of dayahead power
More informationPower to Gas: Electric Congestion
Power to Gas: Electric Congestion Cis Vansteenberge Power to Gas: Electric Congestion - 26/11/2014 1 Introduction Technical congestion Economic congestion Case study Zeebruges Conclusions Content Power
More informationTrading Power Options at European Energy Exchange (EEX) Copyright 2016 All rights reserved Page 1
Trading Power Options at European Energy Exchange (EEX) Copyright 2016 All rights reserved Page 1 Agenda 1. Explanation of Options 2. Option products on EEX 3. Margin calculation 4. Advantages of using
More informationConvergence of Wholesale Electricity Prices in Europe?
Convergence of Wholesale Electricity Prices in Europe? - A Time Series Analysis of Hourly Spot Prices - Georg Zachmann 7th IAEE European Energy Conference Bergen, August 28 3th, 5 Agenda 1. Aim of the
More informationHow the European day-ahead electricity market works
How the European day-ahead electricity market works ELEC0018-1 - Marché de l'énergie - Pr. D. Ernst! Bertrand Cornélusse, Ph.D.! bertrand.cornelusse@ulg.ac.be! October 2014! 1 Starting question How is
More informationLet s go international!
Let s go international! Smart Strategies for Cross-border e-commerce Presented by: Julian Wallis Head of Sales julian.wallis@ingenico.com - +44 (0)7884 005565 - @julianwallis Facts and figures / Ingenico
More informationThe Impact of Wind Power on Day-ahead Electricity Prices in the Netherlands
The Impact of Wind Power on Day-ahead Electricity Prices in the Netherlands Frans Nieuwenhout #1, Arno Brand #2 # Energy research Centre of the Netherlands Westerduinweg 3, Petten, the Netherlands 1 nieuwenhout@ecn.nl
More informationPOLITICAL DECLARATION OF THE PENTALATERAL ENERGY FORUM
POLITICAL DECLARATION OF THE PENTALATERAL ENERGY FORUM The Ministers of the Pentalateral Energy Forum, consisting of Austria, Belgium, France, Germany, Luxembourg, the Netherlands and Switzerland, WELCOMING
More informationImpediments to Electricity Trading in Central and Eastern Europe (CEE)
www.pwc.at Impediments to Electricity Trading in Central and Eastern Europe (CEE) Austria, Czech Republic, Germany, Hungary, Poland, Slovakia, Slovenia Traders Survey 2011 2 PwC 2011 Table of Contents
More informationADVOCACY FOR AN INTEGRATED AND COMPETITIVE ELECTRICITY MARKET IN EUROPE
POLICY PAPER 2015 ADVOCACY FOR AN INTEGRATED AND COMPETITIVE ELECTRICITY MARKET IN EUROPE TEN CONSIDERATIONS BY EPEX SPOT EUROPEAN POWER EXCHANGE 1 ADVOCACY FOR AN INTEGRATED AND COMPETITIVE ELECTRICITY
More informationBest Practice framework EGB Market
Best Practice framework EGB Market Mathieu Gaveau ECB Bond Market Contact Group, 21 October 2014 EGBs: Primary Dealership Secure System The system of Primary Dealerships supports security, stability and
More informationMarket analysis and tool for electricity trading
Fakulteta za Elektrotehniko Heike Brand, Eva Thorin, Christoph Weber, Reinhard Madlener, Markus Kaufmann, Stephan Kossmeier Market analysis and tool for electricity trading OSCOGEN Deliverable D 5.1a Contract
More informationWhen supply meets demand: the case of hourly spot electricity prices
When supply meets demand: the case of hourly spot electricity prices Alexander Boogert Commodities 2007 London, 17-18/01/2007 Essent Energy Trading, the Netherlands Birkbeck College, University of London,
More informationHow To Create A Power Market In European Power Markets
THEMA Report 2011-15 ISBN no. 978-82-93150-07-7 Market design and the use of FTRs and CfDs A report prepared for Energy Norway September 2011 CONTENT 1 SUMMARY AND CONCLUSIONS...3 2 INTRODUCTION...4 3
More informationThe energy transition in the power sector: State of affairs 2015
The energy transition in the power sector: State of affairs 2015 Review of major developments in Germany Patrick Graichen, Mara Marthe Kleiner, Christoph Podewils BERLIN, 7 JANUARY 2016 Key Findings 1
More informationThe Trading Terms for Yearly Gas Forward Contracts
The Trading Terms for Yearly Gas Forward Contracts Consolidated text approved by Resolution of the Management Board No 290/56/13 of October 9th enters into force on October 24th NOTE: Only the Polish version
More informationMARKET REPORT. January 2011
uary 211 MARKET REPORT Highlights physical markets uary 211: POWER: Nord Pool Spot market share of Nordic consumption was 74.6 per cent in uary. The total Nordic preliminary consumption for uary was 4.4
More informationProfessional Clients Mai 2010. A. Introduction. Helaba Best Execution Policy
Helaba Best Execution Policy Professional Clients Mai 2010 Editor: Landesbank Hessen-Thüringen MAIN TOWER Neue Mainzer Str. 52-58 60311 Frankfurt am Main Germany Contacts Elke Blass Phone: (+49) 69/91
More informationHedging with FTRs and CCfDs Introduction
Hedging with FTRs and CCfDs Introduction This document discusses hedging with Financial Transmission Rights (FTRs) and Cross-border Contracts for Difference (CCfDs) Further, the presentation discusses
More informationECC Trading Limits Services. EEX Group Workshop 11 June 2015
ECC Trading Limits Services EEX Group Workshop 11 June 2015 Agenda ECC Limit Service Rationale Legal Framework Achievements Spot Markets Derivatives Markets Handling Outlook 2 ECC Limit Service - Rationale
More informationIn the electricity sector, market coupling with Southern and Eastern neighbouring countries would be beneficial.
Austria Key issues In the electricity sector, market coupling with Southern and Eastern neighbouring countries would be beneficial. In gas, the number of system operators could be reduced in view of the
More informationMarket Coupling: a method with implicit advantages. B. Den Ouden CEO, Amsterdam Power Exchange Spotmarket BV (APX)
Market Coupling: a method with implicit advantages B. Den Ouden CEO, Amsterdam Power Exchange Spotmarket BV (APX) Daily spot market Prijs Vraag Aanbod Conditional bids marktprijs 24x + blocks: Daily program
More informationAnnual EEX Group Workshop 2014 Introduction
Annual EEX Group Workshop 2014 Introduction June 5 th, 2014 Marriott Hotel Leipzig Agenda Time Room 1 Room 2 Room 3 11.00 12.00 General Welcome/Introduction Speech 12.00 13.00 Lunch Break 13.00 14.00 EPEX
More information2. Is registration with PARAFES free? Yes.
Automated Border Control 1. What does PARAFES stand for? PARAFES (translated from French) means Automated Fast Track Crossing at External Schengen Borders. 2. Is registration with PARAFES free? Yes. 3.
More informationMANDATORY PROVIDENT FUND SCHEMES AUTHORITY
Guidelines III.4 MANDATORY PROVIDENT FUND SCHEMES AUTHORITY III.4 Guidelines on Approved Exchanges INTRODUCTION Section 2 of the Mandatory Provident Fund Schemes (General) Regulation ( the Regulation )
More informationTargus Wireless Remote Presenter USER S GUIDE. Making Your Mobile Life Easier. Making Your Mobile Life Easier.
Targus Wireless Remote Presenter Making Your Mobile Life Easier. Visit our Web site at: www.targus.com Features and specifications are subject to change without notice. 2003 Targus Corp. 400-0110-001B
More informationReasons for the drop of Swedish electricity prices
Reasons for the drop of Swedish electricity prices Project for Svensk Energi Dr. Lion Hirth Neon Neue Energieökonomik GmbH Karl-Marx-Platz 12, 12043 Berlin, Germany hirth@neon-energie.de Summary report
More informationFI/RU electricity exchange area setup
FI/RU electricity exchange area setup Daily routines at Nord Pool Spot Time (CET) Action 9:30 Transmission capacities published on NPS web Daily at 9:30 CET the relevant TSOs submit the available transmission
More informationTitleRe of presentation
TitleRe of presentation Regional Power Pools Design Dominique Nicolas, Sales Director, Eric L Helguen, Strategy Director Areva T&D, Paris, France Regional Power Pools (RPP) Agenda Drivers & Enablers Regional
More informationMarket Coupling in Gas?
Market Coupling in Gas? European Gas Target Model 3 rd Workshop London, 11 April 2011 Authors: Jens Büchner Robert Gersdorf Tobias Paulun Nicole Täumel Agenda 1 Scope and Objectives of the Presentation
More informationFunctioning of European Gas Wholesale Markets
Functioning of European Gas Wholesale Markets Quantitative Study Brussels, 15 May 2014 Dr. Albrecht Wagner Wagner, Elbling & Company Management Advisors Seilerstätte 18-20, 3. OG A-1010 Wien office: +43
More informationClearing and Settlement Initiatives 2013/2014
Clearing and Settlement Initiatives 2013/2014 Agenda 1. Introduction of ECC 2. Milestones since June 2013 3. Product innovations - Partner Exchanges 4. ECC The clearing house serving the European Energy
More informationCOST TUD0804 Final Conference Merano 2013
Travel options to (Italy) From Munich Airport Munich Airport is the largest airport for reaching. Abundant airlines serve Munich hourly or several flights a day; examples are - all German airports such
More informationAuctioning German Auctioning of Emission Allowances Periodical Report: First Quarter 2014
Auctioning German Auctioning of Emission Allowances Periodical Report: First Quarter 2014 Deutsche Emissionshandelsstelle Impressum Publisher German Emissions Trading Authority (DEHSt) at the Federal Environment
More informationWholesale price movements and price drivers. Interconnector flows
Market Review 213 Market Prices and costs coupling Introduction Price volatility The electricity market is going through a phase of rapid change. While the process of European integration of electricity
More informationERCOT Monthly Operational Overview (March 2014) ERCOT Public April 15, 2014
ERCOT Monthly Operational Overview (March 2014) ERCOT Public April 15, 2014 Grid Operations & Planning Summary March 2014 Operations The peak demand of 54,549 MW on March 3 rd was greater than the mid-term
More informationSECURITIES SERVICES FEES AND COMMISSIONS (for natural and legal persons)
SECURITIES SERVICES FEES AND COMMISSIONS (for natural and legal persons) AUSTRALIA FOP (Free-of- AUSTRIA FOP (Free-of- BELGIUM e FOP (Free-of- BULGARIA FOP (Free-of- CANADA e (if the value of a single
More informationLE LANCEMENT D UNE PLATEFORME DU COMMERCE Une histoire de succes, un fait de vie
THE LAUNCH OF A TRADING PLATFORM A story of success, a matter of life LE LANCEMENT D UNE PLATEFORME DU COMMERCE Une histoire de succes, un fait de vie VICTOR IONESCU LUCIAN PALADE ROMANIAN POWER MARKET
More informationANNUAL REPORT 2015. Growth IN NEW DIMENSIONS
ANNUAL REPORT 2015 Growth IN NEW DIMENSIONS KEY DATA 2015 2014 Change (%) Profit and loss account Sales revenue keur 190,424 77,098 + 147 Earnings before interest, taxes, depreciation and amortisation
More informationExtract: Monitoring report 2014
BUNDESNETZAGENTUR BUNDESKARTELLAMT 1 Extract: Monitoring report 2014 (Foreword and key findings) in accordance with section 63(3) i. c. w. section 35 EnWG and section 48(3) i. c. w. section 53(3) GWB As
More informationPXE Seminar April 3, 2014
PXE Seminar April 3, 2014 Your Commodities Risk Management Partner Benefit from 20+ years of experience in the commodity industry Kasper Walet walet@maycroft.com Kasper Walet 25 Years of commodity expertise
More informationElectronic Trading Platform Product - Intraday Getting Started Guide v 2.2
Electronic Trading Platform Product - Intraday Getting Started Guide v 2.2 COMMERG provides this manual as is, makes no representations or warranties with respect to its contents or use, and specifically
More informationNASDAQ Asia ex Japan Dividend Achievers TM Index Methodology
NASDAQ Asia ex Dividend Achievers TM Index Methodology Index Description The NASDAQ Asia ex Dividend Achievers Index is comprised of accepted securities with at least three consecutive years of increasing
More informationEU Capital Requirements Directive IV
EU Capital Requirements Directive IV Article 89, Country by Country Reporting 2014 Table of contents 3 Introduction 4 Austria 4 Belgium 4 Denmark 5 France 5 Germany 6 Ireland 6 Italy 7 Luxembourg 8 Monaco
More informationGermany. Key issues. 1. General overview
Germany Key issues High volumes of renewables have changed the way the electricity market in Germany operates. In 2012 direct marketing increased, in particular in onshore wind, due to a change of the
More informationElectricity Markets and Grid Services Chances and Challenges for Communities
ORIGIN Orchestration of Renewable Integrated Generation in Neighbourhoods, Task 7.3: Interface to the National Grid Supply Electricity Markets and Grid Services Chances and Challenges for Communities Version:
More informationTHE AUSTRALIAN FOREIGN EXCHANGE MARKET
The Reserve Australian Bank Foreign of Australia Exchange Bulletin Market May 1993 THE AUSTRALIAN FOREIGN EXCHANGE MARKET This article reviews recent developments in the Australian foreign exchange market.1
More informationLuxeMbOurG Trading CenTre LisT Annex 1 to the s pecial terms and conditions for securities transactions Valid as from 1 January 2011
Luxembourg Annex 1 to the Special terms and conditions for securities transactions Valid as from 1 January 2011 In order to achieve the best possible result in executing security orders, the bank has selected
More informationCALCULATION METHODOLOGY
CALCULATION METHODOLOGY Calculation Methodology for the ABS Benchmarks ABS Benchmarks Administration Co. Pte Ltd absco@abs.org.sg 4 January 2016 A. Introduction ABS Benchmarks Administration Co Pte Ltd
More informationIT OUTSOURCING STUDY GERMANY/AUSTRIA 2015 MANAGEMENT SUMMARY
IT OUTSOURCING STUDY GERMANY/AUSTRIA 2015 MANAGEMENT SUMMARY Whitelane Research / Navisco AG - Sourcing Professionals 1 MANAGEMENT SUMMARY The 2015 German/Austrian IT Outsourcing Study, conducted by Whitelane
More informationTRADING APPENDIX 1. Trading Appendix 1. Definitions. Nord Pool Spot Market. Issued by Nord Pool Spot AS COPYRIGHT NORD POOL SPOT AS 1(11)
Trading Appendix 1 Definitions Nord Pool Spot Market Issued by Nord Pool Spot AS COPYRIGHT NORD POOL SPOT AS 1(11) Version 1 Effective from: NWE/PCR go-live 2014 DEFINITIONS This document sets out the
More informationImpacts of Germany s nuclear phase-out on electricity imports and exports. Report commissioned by Greenpeace Germany
Impacts of Germany s nuclear phase-out on electricity imports and exports Report commissioned by Greenpeace Germany Berlin, 31 st January 213 Charlotte Loreck Hauke Hermann Dr. Felix Chr. Matthes Lukas
More informationBasic banking services
Presentation to the European Parliament by London Economics 25 January 2012 1 Presentation outline Basic facts and benefits 2 and benefits Background Access to basic banking is essential in modern society,
More informationUpdating the Gas Target Model
Dr. Boris Kozlowski PGNiG Sales & Trading GmbH 13th March 2014 Brussels 1 Agenda Presentation of the company Main business focus based on traded gas markets Limiting factors for fulfilling our business
More informationData Centre Pricing in Europe 2013 to 2018
Brochure More information from http://www.researchandmarkets.com/reports/2712847/ Data Centre Pricing in Europe 2013 to Description: The third edition of the Data Centre Pricing in Europe 2013 to report
More informationN2EX Product overview. Day Ahead Auction Spot Market. Issued by Nord Pool Spot AS - 24/02/2015
Issued by Nord Pool Spot AS - 24/02/2015 N2EX Product overview Day Ahead Auction Spot Market Nord Pool Spot AS Tel +47 6710 9100 Fax +47 6710 9101 PO Box 121, NO-1325 Lysaker, Norway Org nr. NO 984 058
More informationIDEX. Italian Derivatives Energy Exchange: where power meets transparency
IDEX Italian Derivatives Energy Exchange: where power meets transparency IDEX Overview IDEX is the Energy Derivatives segment of IDEM, the Italian derivatives market managed by Borsa Italiana, a company
More informationMarket Review 2014 H1
Market Review 214 H1 Electricity market insights First half 214 2 Given the positive response to the first edition, published in March this year, we decided to continue the publication of a market review
More informationSimSafe Data Centre Standards and Accreditation
SimSafe Data Centre Standards and Accreditation Contents Contents... 1 Introduction... 2 Power... 3 Cooling for optimum performance... 4 Multiple layers of security... 5 Energy efficiency... 6 Sustainable
More informationOpportunities in the Power Sector
South Asia Energy Cooperation Presentation and Title Business ( Arial, Font size 28 ) Opportunities in the Power Sector Date, Venue, etc..( Arial, Font size 18 ) Amulya Charan February 2012 Scope of Energy
More informationMerchant Interconnectors
Merchant Interconnectors David Newbery EPRG Winter Research Seminar Cambridge 15 December 2006 http://www.electricitypolicy.org.uk Outline Strong pressure from EC to increase interconnection impeded by
More informationEurex Bonds. Pricing Model (Change Version) Release: 11.2
Pricing Model (Change Version) Release: 11.2 Release date: 01 September 2015 Page 2 of 16 Index 1 INTRODUCTION... 3 2 PRICING MODEL... 4 2.1 ANNUAL FEES... 4 2.2 TRANSACTION FEES... 4 2.2.1 Factor 1: Shareholder
More informationSecond Political Declaration of the Pentalateral Energy Forum of 8 June 2015
PENTALATERAL ENERGY FORUM Second Political Declaration of the Pentalateral Energy Forum of 8 June 2015 The Ministers of the Pentalateral Energy Forum, consisting of Austria, Belgium, France, Germany, Luxembourg,
More informationQUICK REFERENCE GUIDE. ING Payment Processing Offer in XML
QUICK REFERENCE GUIDE TABLE OF CONTENTS 1. ING PAYMENT PROCESSING TYPES... 3 2. ENCODING... 4 2.1. How to request the different payment processing?... 4 2.2. Standard Payment Processing... 4 2.3. Urgent
More informationEducation at a Glance. OECD Indicators. Annex: UOE Data Collection Sources
Education at a Glance OECD Indicators Annex: UOE Data Collection Sources UOE DATA COLLECTION National Sources 2013 UNESCO/OECD/EUROSTAT (UOE) data collection on education statistics. Australia: The Commonwealth
More informationThe European Organisation For Insolvency Professionals
The European Organisation For Insolvency Professionals Visit our website at www.insol-europe.org Insolvency Advice, Valuations and Auctions since 1930 Headoffice: Overschiestraat 59, 1062 XD Amsterdam,
More informationThe Liberalized Electricity Market
1. The market When the electricity market is liberalized, electricity becomes a commodity like, for instance, grain or oil. At the outset, there is as in all other markets a wholesale market and a retail
More informationRegional resource adequacy Cross-border trade of capacity. From implicit to explicit cross-border participation in capacity mechanisms
Regional resource adequacy Cross-border trade of capacity From implicit to explicit cross-border participation in capacity mechanisms Håkan FEUK Chairman of EURELECTRIC WG Wholesale Market Design IEA Expert
More information10. European Union. (a) Past trends
. European Union (a) Past trends The total fertility rate in the 15 countries that presently constitute the European Union was on a rising curve until 196-65, when it attained 2.69 births per woman. Since
More informationTHE ETHICS HELPLINE Worldwide Dialing Instructions April 2012
COUNTRY DIALING INSTRUCTIONS US, Canada and Virgin Islands The Ethics Helpline is always available, 24/7/365 888 478 6858 (Dialing instructions for other jurisdictions follow) Coming soon internet reporting
More informationSAXO CAPITAL MARKETS UK LTD - EQUITY ACTIVE TRADER Rates and Conditions, valid from 1 July 2015
STOCKS & ETFs FLAT FEE THRESHOLD COMMISSION ABOVE MAIN MARKETS FLAT FEE (TRADE SIZE) THRESHOLD NASDAQ, NYSE & NYSE ARCA 1) Stocks 6,000 shares 0.7 cps/share London Stock Exchange 1) Stocks 5 GBP 30,000
More informationBEST EXECUTION POLICY
BEST EXECUTION POLICY In Prague on 9 th December 2015 TABLE OF CONTENT 1. Introductory provisions 2. Markets where the Company executes customer's instructions 3. Instructions 4. Strategy for executing
More informationMARKET RULES of HUPX. Version 7.0
MARKET RULES of HUPX Version 7.0 valid from 16/04/2015 Table of Contents Market Rules 1 Title 1 General Principles of Organization and Bodies... 1 Preamble... 1 Chapter 1 HUPX Market Organization and its
More informationList of Tariffs applicable as of 1 July 2016
Patria Finance, a.s., Jungmannova 745/24, 110 00 Prague 1, Czech Republic, ID No. 26455064 Registered with the Commercial Register, Section B, File No. 7215 Maintained by the Municipal Court in Prague
More informationEnglish translation of the report: Strommarktdesign. Preisbildungsmechanismus im Auktionsverfahren für Stromstundenkontrakte an der EEX
English translation of the report: Strommarktdesign Preisbildungsmechanismus im Auktionsverfahren für Stromstundenkontrakte an der EEX Prof. Dr. Axel Ockenfels* Dr. Veronika Grimm Dipl.-Vw. Gregor Zoettl
More informationAPPENDIX C: BENEFICIAL OWNERSHIP
APPENDIX C: BENEFICIAL OWNERSHIP Refer to Completion Guide (Pages 8-10) or contact your Account Manager if clarification required. Section A: Classification of Ownership RBC is required to collect beneficial
More informationRules and Regulations SIX x-clear Ltd
xcl-601 July 2014 Client info Table of contents 1.0 Introduction 3 2.0 Late settlement procedure 4 2.1 Overview 4 2.2 Procedure 4 3.0 Buy-in procedure 5 3.1 Overview 5 3.2 Procedure 5 4.0 Buy-in schedule
More informationEEX Product Brochure Power
EEX Product Brochure Power Datum / Date 07/08/2012 Ort / Place Dokumentversion / Document Release Leipzig 3A 1. Table of contents 1. Table of contents... 4 2. Preliminary remarks... 4 3. Power Trading
More informationIndex & Futures Spread bets
Our stock indices DFBs aim to replicate the cash price of the underlying index, and are therefore adjusted for dividends [8]. Notes in [square brackets] are detailed in the section below. Daily funded
More informationLBMA Silver Price Licensing
LBMA Silver Price Licensing EFFECTIVE 12 JANUARY 2015 As of Monday 12 January 2015, the existing real-time LBMA Silver Price data which is free of fees becomes fee liable. A subset of the full content
More informationInvestment Fees and Commissions. Fees and commissions applicable from 14 April 2010
Investment Fees and Commissions Fees and commissions applicable from 14 April 2010 Investment fees and commissions When it comes to investing, ABN AMRO offers a wide range of possibilities for every type
More information