EEX launches Irish power futures and extends some seasonal expirations

It was announced on Thursday that the European Energy Exchange (EEX), will launch a new set of Irish baseload futures, and extend expiries of a number of products in the Dutch, French, and Japanese power derivatives market, starting Nov. 25.

EEX is Europe's largest electricity and gas exchange. It is looking to improve its trading options in order to expand its global reach.

In a press release, the company said that Irish Futures would bring its total across-Europe derivatives up to 23 markets.

Steffen Koehler, Chief Operating Officer, said: "We are confident that the new long term maturities of selected European markets will provide further support for the integration of renewables and, at a larger scale, for the energy transformation."

To help market participants secure longer-term power purchase agreements for wind and solar power on the bourse, the French and Dutch power curve contracts will be increased from six to 10 calendar years.

The Japanese seasons will now be extended from four to eight. Vera Eckert reported, Barbara Lewis edited.

(source: Reuters)