"The reference prices established by the exchange increase transparency in the energy markets and strengthen the participants’ confidence in the trading process."
Dr.-Ing. Dr. Tobias Paulun, Director Strategy & Market Design, Managing Director Exchange
Reference prices for Europe
By publishing the traded prices and volumes the exchange safeguards transparency and provides a reliable reference signal to the market. A market-based reference price forms an essential basis for the market players’ operations – including investment decisions.
Phelix – Reference price for power
The Physical Electricity Index (Phelix) refers to the base load (Phelix Base) and peak load (Phelix Peak) price index published daily on the Power Spot Market for the German/Austrian market area. The Phelix is established by EPEX SPOT and constitutes the underlying asset for the EEX Phelix Future.
The European Electricity Index (ELIX) – which is calculated for the EPEX SPOT market areas Germany/Austria, France and Switzerland – corresponds to the congestion-free market price for these areas and, as a result, it represents the market price for electricity in an integrated European single market.
EGIX – Reference price for natural gas
The European Gas Index (EGIX) is based on exchange trades which are concluded in the respective current front month contracts (GASPOOL, NCG). The EGIX corresponds to the current market price for gas deliveries in the next month at any time and, as a result, it is optimally suited to gradually replace or supplement gas supply contracts on the basis of natural gas substitutes (such as oil or coal).
ECarbix – Reference price for EU emission allowances
The European Carbon Index (ECarbix) is calculated and published as an exchange-based price for the current market value for EU emission allowances (EUA) in the third trading period. In the context of the introduction of new products, EEX will develop the index into a CO2 index family which will also cover the EUAA and CER Spot Market in addition to the EUA market.
© 2016 European Energy Exchange AG