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Bonn, 13 April 2017 Page 1 of 2
Bundesnetzagentur announces successful bids in first auction for offshore wind farms
Jochen Homann: "Average award price of 0.44 ct/kWh far below expectations"
The Bundesnetzagentur has today announced the results of the first auction for grid connections and funding for existing offshore wind farm projects.
"The average weighted award price of 0.44 cents per kilowatt hour is far below expectations. This shows the auction has unlocked medium and long-term cost reduction potential, which will lead to a reduction in funding to an extent that had not been expected," said Jochen Homann, Bundesnetzagentur President, commenting on the outcome of the auction.
"Offshore wind energy is categorically proving its competitiveness. This is good news for all electricity consumers who contribute to funding renewable energy through the renewable energy surcharge," stated Mr Homann. "It remains to be seen, however, whether the prices in the next auction will be as low."
Auction results
Four bids were able to be accepted, taking account of the total volume up for auction of 1,550 megawatts (MW) and the possible grid connections. The four successful bids are all for projects in the North Sea and amount to 1,490 MW and thus nearly the total volume that was available for auction.
The average award price was 0.44 cents per kilowatt hour (ct/kWh). The lowest price bid was 0.00 ct/kWh, and the highest price accepted was 6.00 ct/kWh.
Press Release ADDRESS Tulpenfeld 4 53113 Bonn
TEL +49 228 14–9921 FAX +49 228 14–8975
[email protected] www.bundesnetzagentur.de
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© 2017
Reflecting the situation in the electricty market Regulation
Art 8.1 (Forward markets): Long-term forward/futures markets are an essential tool to manage the energy transition and the decarbonisation of the power sector. Any change to the electricity market design should therefore take into consideration the impact this has on forward/futures markets.
Energy transition: increased RES % in the power system
More price volatility
Increased value attached to long-term hedging
Growing forward trading volumes
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2018/02/07 21(49EEX Group Homepage
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of EEX GroupGlobal Contacts
Contact
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ContactContact
European Energy Exchange AG
Augustusplatz 9
04109 Leipzig, Germany
Tel.: +49 341 2156-0
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A member ofA member of
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Exchange AG
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MetalsIron Ore Tianjin European steel contracts
EEX Group organises markets for energy and commodity products
7About EEX Group
Fuel Oil Hubs: Singapore and Rotterdam
Oil FreightDry Bulk Shipping
Routes
FertiliserFertiliser DAP and Urea contracts
Power SpotGermany/Austria, LuxembourgFranceUnited KingdomThe NetherlandsBelgiumSwitzerland
Market Operations for Hungarian the Power Exchange HUPXMarket operation services for South East European Power Exchange SEEPEX
TTFNBP
ZEE
TRS
NCG
CEGH
PSV
GAS POOL
PEGNORD
ZTP
Power DerivativesExchange-traded EEX Power FuturesEEX Trade Registration Services for Power FuturesECC clearing for further exchanges
Natural GasLocation spreadsNatural Gas hubsNew Natural Gas hubs
Emission AllowancesEUA Primary Market Auction for 25 EU
member states, as well as Germany and
Poland
ETF
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8 About EEX Group
Overview of all EEX Group products
Power Spot
Natural Gas Spot
Power
Coal
Oil
Natural Gas
Power Derivatives
Coal
Fuel Oil
Natural GasDerivatives
– Austrian Power Spot (IT|DA) – Belgian Power Spot (IT|DA) – Dutch Power Spot (IT|DA) – French Power Spot (IT|DA) – French capacity guarantees
– API 2 CIF ARA Coal Futures (F) 1
– API 4 FOB Richards Bay Coal Futures (F) 1
– API 5 FOB Newcastle Coal Futures (F) 1, *
– 3.5 % FOB Barges Rotterdam Oil Futures (F|SGX) 3
– ETF Danish Natural Gas Spot (IT|DA) – GASPOOL German Natural Gas Spot (IT|DA) – Czech VTP Gas Spot (DA) – NCG German Natural Gas Spot (IT|DA)
– Belgian Power Futures (F|P) – Czech Power Futures (F) – Dutch Power Futures (F|P) – French Power Futures (F|P) – French Power Options – German Intraday Cap Futures (F) – German/Austrian Wind Power Futures – Greek Power Futures (F) – Hungarian Power Futures (F|P) – Italian Power Futures (F)
– Czech Natural Gas Futures (P) – ETF Danish Natural Gas Month-Ahead (P) – GASPOOL German Natural Gas Futures (P) – NBP UK Natural Gas Futures (GBP|P) – NCG German Natural Gas Futures (P)
– German Power Spot (IT|DA) – Serbian Power Spot – Swiss Power Spot (IT|DA) – UK Power Spot (IT|DA)
– API 8 CFR South China Coal Futures (F) 1, * – Indonesian Sub-bituminous Coal Futures (F) 2, * – Options on API 2, API 4, API 5 (F) *
– Cargoes Singapore Oil Futures (180 CST FOB, 380 CST FOB) (F|SGX) 3
– TTF Dutch Natural Gas Spot (IT|DA) – ZEE Belgian Natural Gas Spot (IT|DA) – ZTP Belgian Natural Gas Spot (IT|DA) – NBP UK Natural Gas Spot (IT|DA) – PEG NORD French Natural Gas Spot (IT|DA) – TRS French Natural Gas Spot (IT|DA)
– Italian Power Options – Nordic Power Futures (F) – Phelix Power Futures (F) – Phelix Power Options – Polish Power Futures (F) – Romanian Power Futures (F) – Slovak Power Futures (F|P) – Spanish Power Futures (F) – Spanish Power Options – Swiss Power Futures (F|P) – UK Power Futures (F)
– PEG NORD French Natural Gas Futures (P) – PSV Italian Gas Futures (F|P) – TRS French Natural Gas Futures (P) – TTF Dutch Natural Gas Futures (P) – ZEE Belgian Natural Gas Futures (P) – ZTP Belgian Natural Gas Futures (P)
IT Intraday/Within-Day Trading, DA Day-Ahead Trading, P Physical Settlement, F Financial Settlement, * Upcoming
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Copyright 2015 – All rights reserved
Phelix Futures A Growth Story
Page 4
The calculation of EEX’s market share is based on the figures published by the exchanges and the London Brokers’ Association (LEBA) every month.
Total market size (Jan – Jul 2015)
3,269 TWh (+11% yoy)
Thereof cleared market size (Jan – Jul 2015)
1,052 TWh (+46% yoy)
Thereof EEX (Jan – Jul 2015)
977 TWh (+41% yoy)
EEX share in cleared market 93%
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JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
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Percent [%]Volume [TWh] Volume Phelix Futures (Exchange + TR)
Days Weeks Months Quarters Years Volatility (Source: Thomson Reuters)
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Spot Market, EPEX SPOTDay-Ahead Auction for: Germany/Austria, Luxembourg, France, United Kingdom, The Netherlands, Belgium and SwitzerlandIntraday for: Germany/Austria, France, United Kingdom, The Netherlands, Belgium and Switzerland
Derivatives Market, EEX & PXEEEX Power Futures: Phelix Power Futures (DE/AT), Belgian Power Futures, Dutch Power Futures, French Power Futures, Greek Power Futures*, Italian Power Futures, Nordic Power Futures, Romanian Power Futures*, Spanish Power Futures, Swiss Power Futures, UK Power Futures, German Intraday Cap Futures, Wind Power Futures for Germany/Austria PXE Power Futures: Czech Power Futures, Hungarian Power Futures, Slovak Power Futures, Polish Power Futures, Romanian Power FuturesPower Options: Phelix Power Options (DE/AT), French Power Options, Italian Power Options, Spanish Power Options
* Trade Registration product
11Power
Product OverviewCovering
15market areas in power spot and derivatives trading
TWh 4,000
3,600
3,200
2,800
2,400
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Development of the Exchange Power Spot & Derivatives Volume
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France
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Hungarian Power Exchange
HUPX
Market coupling for the
Slovakian OKTE, Romanian
OPCOM and HUPX
Market operation services
for South East European
Power Exchange SEEPEX
Servicing other
exchanges
Spot Market
535 TWhTraded volume in 2016
Contact EPEX SPOT:
ParisPhone: +33 173 0396 03
E-mail: [email protected]
www.epexspot.com
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France
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EPEX SPOT
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Market operation for the
Hungarian Power Exchange
HUPX
Market coupling for the
Slovakian OKTE, Romanian
OPCOM and HUPX
Market operation services
for South East European
Power Exchange SEEPEX
Servicing other
exchanges
Spot Market
535 TWhTraded volume in 2016
Contact EPEX SPOT:
ParisPhone: +33 173 0396 03
E-mail: [email protected]
www.epexspot.com
13Power > Spot Market
Market Areas
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3,920TWhtraded EEX and PXE volume in 2016
Contact EEX Power DerivativesSales Team:Phone: +49 341 2156-555
E-mail: [email protected]
www.eex.com/en/products/
power/power-derivatives-
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Phone: + 420 221 832 204
E-mail: [email protected]
www.pxe.cz
Market Areas and Location Spreads
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Advantages
– Access to the most liquid financial power
future contract in Europe – the Phelix Future
– Standard (Month, Quarter and Year) as well as short-
term maturities (Day, Weekend and Week Futures)
available for trading
– Exchange trading as well as Trade Registration services
for major European markets as well as trading of price
differences (spreads) between these markets
– Through PXE, additional access to Eastern European
power markets
The derivatives market facilitates medium to long-term portfolio optimisation and comprises a range of power products for the main European markets. These include financially settled futures for the Belgian, Dutch, German/Austrian, French, Italian, Spanish, Swiss, UK and Nordic market areas as well as the Czech, Polish, Slovak and Romanian power markets. Location spreads can also be traded between the market areas. In addition, participants can register over-the-counter transactions for those market areas as well as for Greece and Romania.
Derivatives Market
3,920TWhtraded EEX and PXE volume in 2016
Power > Derivatives Market
EEX offers additional power products on the derivatives market which are listed on a new trading platform (‘non-MTF’ platform). These products are cleared by ECC, thereby ensuring that trading is secure and anonymous. Additionally, these products can be physically settled and are therefore not financial instruments according to MiFID. Once MiFID II comes into effect, these products shall be listed on an OTF platform.
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Product Innovations for the ‚Energiewende‘
Page 15
Power Spot-
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Derivatives Day/Weekend Futures (DE/AT)
Market Coupling
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15min. Contracts Intraday Market
(DE)
NWE-Market Coupling (CWE+UK+Nordics)
15-min Intraday
Auction (DE) Intraday Market (CH)
Intraday Market (AT)
Cap-Futures*
*Hedging against price risks in the Intraday market
Wind Power
Futures
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FR/DE cross-border intraday
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