Power Futures

    Exchange trading and trade registration of EEX power futures enable medium to long-term portfolio optimisation.

    Our market participants have access to the most liquid financial power future contract in Europe – the EEX German Power Future. After the split of the German and Austrian price zone, the EEX German Power Future is the benchmark product for European power along the whole curve. Over the past months, trading volumes in the Austrian power market have also picked up significantly.

    Our Service for the Power Derivatives Markets

    • Standard (month, quarter, year) as well as short-term maturities (day, weekend, week futures) available for trading
    • Exchange trading and trade registration available from 8 am to 6 pm CET
    • Close customer support through our Market Operations Team

    Power Futures Product Overview

    Trading hours

    Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration 8:00 am to 6:00 pm (CET)

    Day, weekend, current week and next 4 weeks, current month and next 9 months, next 11 quarters and next 6 years

    1 MW

    € 0.01 per MWh

    Cash settlement

    Trading hours

    Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The current and the next six month, seven quarters and six years

    1 MW

    € 0.01 per MWh

    Cash settlement / Physical fulfilment

    Trading hours

    Eligible contracts

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The current and the next 4 weeks, the current month and next 6 months, next 7 quarters and 6 years

    1 MW

    0.01 €/MWh

     

    Cash settlement

    Trading hours

    Eligible contracts

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The respective next 34 days and the next 5 weekends, the current week and next 4 weeks,  current month and next 6 months, next 7 quarters and 6 years

    1 MW

    0.01 €/MWh

     

    Cash settlement

    Trading hours

    Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The respective next 34 days and the next five weekends, the current and the next four weeks, the current month and the next six months, seven quarters and six years

    1 MW

    € 0.01 per MWh

    Cash settlement / Physical fulfillment

    Trading hours

    Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

     

    Trade Registration
    8:00 am to 6:00 pm (CET)

    Day (base only), weekend (base only), current week and next 4 full weeks (base and peak), current month and next 3 full months (base and peak), next 4 full quarters  (base and peak), the next 4 full seasons (base and peak) and next 2 full years  (base and peak)

    1 MW

    GBP 0.01 per MWh

    Cash settlement

    Trading hours

    Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    Day, weekend, the current week, the next 4 weeks, the current month, the next 6 months, next 11 quarters and 6 years

    1 MW

    € 0.01 per MWh

    Cash settlement / Physical fulfillment

    Trading hours

    Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration 8:00 am to 6:00 pm (CET)

    Day, weekend, current week and next 4 weeks, current month and next 9 months, next 11 quarters and next 6 years

    1 MW

    € 0.01 per MWh

    Cash settlement

    Trading hours

    Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    Current month and next 9 months, next 11 quarters and next 6 years

    1 MW

    € 0.01 per MWh

    Cash settlement

    Trading hours

    Eligible contracts

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    The current and the next six months, seven quarters and six years

    1 MW

    € 0.01 per MWh

    Cash settlement

    Trading hours

    Eligible contracts

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The respective next 34 days and the next 5 weekends, the current week and the next 4 weeks, the current month and the next 6 months, the next 7 quarters and 6 years

    1 MW

    0.01 €/MWh

     

    Cash settlement

    Trading hours

    Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Day, weekend, the current week and the next four weeks, the current month and the next six months, next 11 quarters and next six years

    1 MW

    € 0.01 per MWh

    Cash settlement

    Trading hours

    Eligible contracts

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    The current week and the next four weeks, the current month and the next six months, seven quarters and six years

    1 MW

    € 0.01 per MWh

    Cash settlement

    Trading hours

    Eligible contracts

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The current month and the next 6 months, next 7 quarters and 6 years

    1 MW

    0.01 €/MWh

     

    Cash settlement

    Trading hours

    Eligible contracts

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The current and the next 4 weeks, the current month and next 6 months, next 7 quarters and 6 years

    1 MW

    0.01 €/MWh

     

    Cash settlement

    Trading hours

    Eligible contracts

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The current and the next 4 weeks, the current month and next 6 months, next 7 quarters and 6 years

    1 MW

    0.01 €/MWh

     

    Cash settlement

    Trading hours

    Eligible contracts

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The current month and next 6 months, next 7 quarters and 6 years

    1 MW

    0.01 €/MWh

     

    Cash settlement

    Trading hours

    Eligible contracts

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The current and the next 4 weeks, the current month and next 6 months, next 7 quarters and 6 years

    1 MW

    0.01 €/MWh

     

    Cash settlement

    Trading hours

    Eligible contracts

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Day, weekend, the current week and next four weeks, the current and the next six months, next 11 quarters and six years

    1 MW

    € 0.01 per MWh

    Cash settlement

    Trading hours

    Eligible contracts

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Day, weekend, the current week and the next four weeks, the current month and the next six months, seven quarters and six years

    1 MW

    € 0.01 per MWh

    Cash settlement

    Increasing power generation from renewables (e.g. wind power), in combination with the uncertainty of weather, leads to a steadily growing price impact for conventional power revenues. At the same time, there is an expanding number of companies with considerable volume risk from their wind park portfolios. EEX offers an effective tool to manage both of these aspects.

    EEX introduces Wind Power Futures as a standardised exchange-traded wind power derivative to enable the dedicated hedging of the wind power generation risk. The underlying is based on an internationally accredited index provided by EuroWind. Order book trading guarantees transparent pricing while counterparty risk is eliminated through clearing via ECC.


    Power Future Spreads

    Location Spread Products - Trading price differences between the different EEX markets

    EEX offers location spread products with guaranteed execution for selected financially settled power futures. The spreads enable trading participants to efficiently trade the price differences between these delivery areas.

    In total, 38 different spreads are available for trading.

    The Location-Spreads are available for the following combinations:

    Power Futures Product Overview

    EEX German Power Future against
    EEX Austrian Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German/Austrian Power Future against
    EEX Austrian Power Future

    Base, Peak

     

    Month, Quarter, Year

    EEX Belgian Power Future against

    EEX French Power Future

    Base, Peak

     

    Month, Quarter, Year

     

       

    EEX Dutch Power Future against

    EEX Belgian Power Future

    Base, Peak

     

    Month, Quarter, Year

       

    EEX Dutch Power Future against
    EEX Belgian Power Future

    Base

     

    Month, Quarter, Year

     

    EEX Dutch Power Future against
    EEX French Power Future

    Base, Peak

     

    (Week), Month, Quarter, Year

     

    EEX Dutch Power Future against
    EEX German Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX Dutch Power Future against
    EEX German/Austrian Power Future

    Base, Peak

     

    (Week), Month, Quarter, Year

    EEX Belgian Power Future against
    EEX French Power Future

    Base

     

    Month, Quarter, Year

     

    EEX Dutch Power Future against
    EEX French Power Future

    Base, Peak

     

    (Week), Month, Quarter, Year

     

    EEX Italian Power Future against
    EEXFrench Power Future

    Base, Peak

     

    Week, Month, Quarter, Year

     

    EEX German Power Future against
    EEX French Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German/Austrian Power Future against
    EEX French Power Future

    Base, Peak

     

    Week, Month, Quarter, Year

     

    EEX Spanish Power Future against
    EEX French Power Future

    Base

     

    Week, Month, Quarter, Year

     

    EEX Swiss Power Future against
    EEX French Power Future

    Base

     

    Week, Month, Quarter, Year

    EEX German Power Future against
    EEX-PXE Czech Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX French Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX-PXE Hungarian Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX Nordic Power Future

    Base

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX-PXE Polish Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX Austrian Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX German/Austrian Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX-PXE Serbian Power Future

    Base

     

    Week, Month, Quarter, Year

     

    EEX German Power Future against
    EEX-PXE Slovakian Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX Dutch Power Future against
    EEX German Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX Italian Power Future against
    EEX German Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German/Austrian Power Future against
    EEX German Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX Swiss Power Future against
    EEX German Power Future

    Base

     

    Month, Quarter, Year

    EEX German/Austrian Power Future against
    EEX French Power Future

    Base

     

    Week, Month, Quarter, Year

     

    EEX German/Austrian Power Future against
    EEX Nordic Power Future

    Base

     

    Week, Month, Quarter, Year

     

    EEX German/Austrian Power Future against
    EEX Austrian Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German/Austrian Power Future against
    EEX German Power Future

    Base, Peak

     

    Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX Greek Power Future

    Base

     

    Month, Quarter, Year

     

    EEX Italian Power Future against
    EEX Greek Power Future

    Base

     

    Month, Quarter, Year

    EEX Italian Power Future against
    EEX French Power Future

    Base, Peak

     

    Week, Month, Quarter, Year

    EEX Italian Power Future against
    EEX Greek Power Future

    Base

     

    Month, Quarter, Year

    EEX Italian Power Future against
    EEX-PXE Hungarian Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX Italian Power Future against
    EEX German Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX Italian Power Future against
    EEX German/Austrian Power Future

    Base, Peak

     

    Week, Month, Quarter, Year

     

    EEX Italian Power Future against
    EEX-PXE Serbian Power Future

    Base

     

    Week, Month, Quarter, Year

    EEX Italian Power Future against
    EEX-PXE Slovenian Power Future

    Base, Peak

     

    Week, Month, Quarter, Year

     

    EEX Italian Power Future against
    EEX Swiss Power Future

    Base

     

    Week, Month, Quarter, Year

    EEX German Power Future against
    EEX Nordic Power Future

    Base Month, Quarter, Year
    EEX German/Austrian Power Future against
    EEX Nordic Power Future
    Base Week, Month, Quarter, Year

    EEX-PXE Hungarian Power Future against EEX-PXE Bulgarian Power Future

    Base

     

    Week, Month, Quarter, Year

    EEX-PXE Czech Power Future against
    EEX-PXE Polish Power Future

    Base, Peak

     

    Month, Quarter, Year

    EEX-PXE Czech Power Future against
    EEX-PXE Slovakian Power Future

    Base, Peak

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX-PXE Czech Power Future

    Base, Peak

     

    Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX-PXE Bulgarian Power Future

    Base

    Week, Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX Greek Power Future

    Base

    Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX-PXE Romanian Power Future

    Base, Peak

    Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX-PXE Serbian Power Future

    Base

    Week, Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX-PXE Slovenian Power Future

    Base, Peak

    Week, Month, Quarter, Year

    EEX-PXE Czech Power Future against
    EEX-PXE Polish Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX-PXE Polish Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX-PXE Slovakian Power Future against
    EEX-PXE Polish Power Future

    Base, Peak

     

    Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX-PXE Romanian Power Future

    Base, Peak

     

    Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX-PXE Serbian Power Future

    Base

     

    Week, Month, Quarter, Year

     

    EEX Italian Power Future against
    EEX-PXE Serbian Power Future

    Base

     

    Week, Month, Quarter, Year

     

    EEX German Power Future against
    EEX-PXE Serbian Power Future

    Base

     

    Week, Month, Quarter, Year

    EEX-PXE Slovakian Power Future against
    EEX-PXE Hungarian Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX-PXE Slovakian Power Future against
    EEX-PXE Polish Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX-PXE Slovakian Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX-PXE Czech Power Future against
    EEX-PXE Slovakian Power Future

    Base, Peak

     

    Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX-PXE Slovenian Power Future

    Base, Peak

     

    Week, Month, Quarter, Year

     

    EEX Italian Power Future against
    EEX-PXE Slovenian Power Future

    Base, Peak

     

    Week, Month, Quarter, Year

    EEX Spanish Power Future against
    EEX French Power Future

    Base

     

    Week, Month, Quarter, Year

    EEX Swiss Power Future against
    EEX French Power Future

    Base Week, Month, Quarter, Year

    EEX Swiss Power Future against
    EEX German Power Future

    Base Month, Quarter, Year

    EEX Swiss Power Future against
    EEX German/Austrian Power Future

    Base Week, Month, Quarter, Year

    EEX Italian Power Future against
    EEX Swiss Power Future

    Base Week, Month, Quarter, Year

    The number of tradable contracts results from the underlying legs.

    Physical Fulfilment Service

    EEX, in cooperation with EPEX SPOT, offers a Physical Fulfillment Service to enter bids in the corresponding EPEX SPOT day-ahead auction according to the participants' respective position in an EEX power futures product. This service is available for trading participants simultaneously admitted to participate in the EEX power futures market and the EPEX SPOT power spot market.

    The service is offered for the following EEX power futures products:

    • EEX German Power Future / Week and month contracts
    • EEX Austrian Power Future / Month contracts
    • EEX German/Austrian Power Future / Month contracts
    • EEX French Power Future  / Week and month contracts
    • EEX Dutch Power Future / Week and Month contracts
    • EEX Swiss Power Future / Week and month contracts
    • EEX Belgian Power Future / Month contracts
    • EEX GB Power Future / Week and Month contracts
       

    Access to the Physical Fulfilment Service

    In order to use the Physical Fulfilment Service, a separate PHYFUL Portfolio is required for the respective market area, which can be applied for at EPEX SPOT. Fees can be found in the current price list of EPEX SPOT.
     

    Initiation of physical fulfilments

    Automatically via EEX Initiation Service Manual via trading participants
    • Creation and forwarding of bidding sheets for the respective EPEX day-ahead auction(s) based on existing future positions by the EEX (service order form required)
    • Registration of bidding sheets in the auction system by EPEX SPOT
    • Confirmation of registered bids in the auction system by the trading participant
    • Participation in the day-ahead auction(s) of the respective market area(s) 
    • Creation and forwarding of the required bidding sheets for the respective day-ahead auction(s) based on existing future positions by the EEX  to EPEX SPOT by the trading participant
    • Registration of bidding sheets in the auction system by EPEX SPOT
    • Confirmation of registered bids in the auction system by the trading participant
    • Participation in the day-ahead auction(s) of the respective market area(s)

    Trading participants, who would also like to use the additional EEX initiation service, can subscribe via this additional service order form.

    Following the successful auction, the nomination takes place according to the concluded spot transaction(s) based on the valid trading conditions of EPEX Spot and clearing conditions of ECC.

    Contract Specifications
    No matching downloads could be found.

    EPEX SPOT

    EPEX SPOT operates the power spot markets offering day-ahead and intraday trading, capacity auctions, market coupling and market operation services

    visit epex spot

    OTF Power Futures

    Trading Non-Financial Instruments at EEX

    When MiFID II became effective on 3rd January 2018, EEX transferred its Non-MTF offering for non-financial instruments into Organised Trading Facilities (OTFs). Within the transition, all Non-MTF products became OTF products.

    The OTF markets enable participants who wish to fulfil their positions physically to trade without fulfilling requirements that had originally been designed for financial markets.

    EEX lists financial as well as non-financial instruments on the OTF markets. Products on the OTF which "can be physically settled" are classified as financial instruments while products which "must be physically settled" are classified as non-financial instruments according to MiFID II, the latter being exempt from certain obligations of MiFID II and other financial regulation.

    Advantages of trading OTF products at EEX

    • Products on the OTF which "must be physically settled" are classified as non-financial instruments according to MiFID II, the latter being exempt from certain obligations of MiFID II and other financial regulation.
    • High standards of transparency and supervision
    • OTF trading venues expand the scope of service.
    Contract Specifications
    2020-01-01 EEX OTF Contract Specifications 002a - English Rules OTF Market EEX OTF Terms and Conditions pdf (546 KB)
    2020-01-01 EEX OTF Contract Specifications 002a - Track Changes - English Rules OTF Market EEX OTF Terms and Conditions pdf (573 KB)
    2020-01-01 EEX OTF Contract Specifications 002a -German Rules OTF Market EEX OTF Terms and Conditions pdf (508 KB)
    2020-01-01 EEX OTF Contract Specifications 002a - Track Changes - German Rules OTF Market EEX OTF Terms and Conditions pdf (539 KB)
    2020-01-01 EEX OTF Contract Specifications – History Rules OTF Market EEX OTF Contract Specifications zip (1 MB)

    Meet the Power Team

    Looking for a contact to talk to about power trading at EEX.

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    Product Codes Download

    EEX Products (Shortcodes, WKN, ISIN, Vendor Codes, GoO) 

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    Price List

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    Market Data

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    Admission

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    Connectivity

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    ECC Clearing Specification

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