Leipzig, 31 May 2016. Following the successful completion of the transaction, Praguebased POWER EXCHANGE CENTRAL EUROPE (PXE) has now officially joined EEX Group.
As of today, EEX will become the new majority shareholder, holding 66.67 % of PXE shares. Peter Reitz, CEO of EEX Group, comments: “With this step, EEX Group is able to expand its geographical reach with products for the Czech Republic, Slovakia, Hungary, Poland and Romania and, therefore, will be present in Eastern Europe for the first time. Those markets are a useful addition to our existing offering and we see a lot of potential for further growth in the medium to long term.”
Together, EEX and PXE plan to further develop the power derivatives market in Central and Eastern Europe. “We look forward to the cooperation with PXE as this will create significant benefits for our members. Currently, 205 members are admitted on the EEX power derivatives markets and PXE has 37 members. Providing our joint member base access to these markets cross-border trading for the participants willimprove and liquidity will increase”, he continues.
David Kučera, CEO of PXE comments: “We are glad that EEX Group has become our partner to further develop the project that we started nine years ago and we are thrilled by the opportunities ahead of us.”
In 2015, the total volume traded on the PXE markets amounted to 27 TWh. Thereof, 16.6 TWh were traded in the Czech power market. The offering of PXE comprises financial and physical contracts for base load and peak load with monthly, quarterly and yearly maturity.
European Energy Exchange AG Page 4 The European Energy Exchange (EEX) is the leading energy exchange in Europe. It develops, operates and connects secure, liquid and transparent markets for energy and commodity products. At EEX, contracts on Power, Coal and Emission Allowances as well as Freight and Agricultural Products are traded or registered for clearing. Alongside EEX, EPEX SPOT, Powernext, Cleartrade Exchange (CLTX), Gaspoint Nordic are also part of EEX Group. Clearing and settlement of trading transactions are provided by the clearing house European Commodity Clearing (ECC). EEX is a member of Group Deutsche Börse. The POWER EXCHANGE CENTRAL EUROPE (PXE) established in July 2007, offers trading in Czech, Slovak, Hungarian, Polish and Romanian electricity and operates the CEGH Czech Gas Futures Market in cooperation with the Austrian Central European Gas Hub AG (CEGH). PXE also offers end consumers the opportunity to find the best electricity supplier by means of electronic auctions.
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