EEX German Power Future

"The EEX German Power Future is the right product for the future of German power trading. It has brought back confidence to the German power trading community."

Steffen Riediger, Head of European Power Derivatives

  

In 2017, EEX launched financially settled power futures for Germany (EEX German Power Future) in response to the planned split of the German-Austrian price zone. Since then, the EEX German Power Future has established itself as the benchmark contract for European power. Liquidity has clearly shifted from EEX German/Austrian Power Future to the EEX German Power Future, also in maturities before the impending split of the German-Austrian price zone. As EEX German Power Future covers the AMPRION control zone, the new product better serves the needs of the German power trading community.

Volume Share: EEX German/Austrian Power Future and EEX German Power Future in % (since the launch in April 2017):

Advantages of Trading EEX German Power Future

  • The EEX German Power Future is the most liquid contract for European power with fast growing open interest and trading volumes for maximum liquidity
  • The underlying of the EEX German Power Future is the day-ahead price for the market area, which contains the AMPRION control zone, which is equivalent to standard terms in bilateral agreements

Product Overview

The EEX German Power Future is a financial derivatives contract referring to the average power spot market price future delivery periods of the German market area.

  • The EEX German Power Future enables hedging against price risk for the German Power market.
  • EEX German Power Futures are available as base load and peak load contracts.
  • Maturities cover Day, Week, Weekend, Month, Quarter and Year contracts on the regulated market.
  • The underlying of the EEX German Power Future is the day-ahead price for the market area, which contains the AMPRION control zone, equivalent to standard terms in bilateral agreements.
Eurex CodeLong NameWKNISIN
DB01 - DB34EEX German Power Base Day Future
DEB1 - DEB5EEX German Power Base Week Future
DEBMEEX German Power Base Month FutureA2DB1FDE000A2DB1F4
DEBQEEX German Power Base Quarter FutureA2DB1GDE000A2DB1G2
DEBYEEX German Power Base Year FutureA2DB1HDE000A2DB1H0
DP01 - DP34EEX German Power Peak Day Future
DEP1 - DEP5EEX German Power Peak Week Future
DEPMEEX German Power Peak Month FutureA2DB1JDE000A2DB1J6
DEPQEEX German Power Peak Quarter FutureA2DB1KDE000A2DB1K4
DEPYEEX German Power Peak YearA2DB1LDE000A2DB1L2

Background: German-Austrian price zone split

The decision of the German Federal Network Agency BNetzA and the ongoing debate among regulators and political institutions concerning a potential split of the German/Austrian price zone have led to increasing uncertainty in the market which resulted in decreasing trading volumes.

Messages

Preparation for the Split of the Power Market Bidding Zone between Germany and Austria
Customer Information 2018/04/09
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EEX Exchange Council determines weighting of the Phelix DE/AT-Index
Press Release 2017/06/07

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Exchange Council approves weighting of the Phelix-DE/AT index in case of the split of the German/Austrian bidding zone
Customer Information 2017/06/07
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EEX to launch Phelix-AT Futures and additional Phelix-DE Futures and Options in light of potential bidding zone split
Customer Information 201705/16
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EEX to launch Austrian Power Future and extend Phelix-DE Future products
Press Release 2017/05/16
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Technical information on the introduction of Phelix DE Futures
Customer Information 2017/04/21
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Action required - New power products: Phelix DE Futures
Market Data Circular 2017/04/18
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Further information on the introduction of Phelix DE Futures
Customer Information 2017/04/13
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EEX to launch Phelix DE Futures on 25 April 2017
Customer Information 2017/04/11
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EEX to launch power futures for Germany
Press Release 2017/04/11
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