Power Purchase Agreements (PPA) Hedging

    The market for Power Purchase Agreements (PPAs) has grown in recent years together with the evolution towards subsidy-free renewable energy. Due to the long-term nature of PPAs, counterparties are taking on substantial risk, resulting in increased need for financial risk management. Trading at EEX increases security and standardisation of PPA hedging and provides the tools to actively support the energy transition in Europe. By hedging long-term price risk via our standard EEX power futures, we enable our members to hedge against the risk of future price changes.

    The standard configuration for EEX power futures is for Base year contracts up to 6 calendar years ahead. On 27 September 2021, EEX extended the number of tradable yearly Base maturities for German, Italian and Spanish Power Futures from six to ten calendar years. This enhancement enables customers to hedge their price exposure up to 10 years in advance, facilitating PPA hedging on the exchange and promoting the integration of renewable energy into the power market. Counterparties hedging on exchange also benefit from counterparty risk management by our clearing house, ECC.

    PPA Fixed Price and Volume Profile

    Cal+10 Settlement Prices

    A settlement price curve to Cal+10 is published daily for German, Italian and Spanish power markets, bringing more price transparency to PPAs and renewable energy asset valuations. Please refer to our Market Data page for recent settlement prices. 

    Webinar "Cal+10 and the future of renewable energy risk management"

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    You may also be interested in:

    • EEX DataSource: the highspeed connection to EEX Group market data and to transparency data for Power, Natural Gas, Environmental Markets and Renewables
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    • Insight Commodity: Browse data services for power and renewable energy


    The outlook for Power Purchase Agreements (PPAs) & long term hedging in a post-COVID world

    Listen on Spotify

    Renewable Energy and PPAs

    Hedging with EEX Power Futures - Get further information in our presentation



    Renewable Energy Price Risk Management at the Energy Exchange


    EEX Featured in RE-Source PPA Risk Mitigation Report


    Viviana Ciancibello

    Senior Business Developer

    +44 207 862 7561 viviana.ciancibello@eex.com