„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, Chief Executive Officer (ECC)

    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. 


    According to § 4 (3) of the German Cogeneration Law (KWK-Gesetz), the remuneration of cogeneration plants (KWK-Anlagen) is based on the normal price for electricity. For cogeneration plants up to a maximum power output of two megawatt, the normal price for electricity is defined as the average final settlement price of power day futures for the market area Germany at EEX for the respective preceding quarter. EEX calculates the simple average of all daily settlement prices of German Power Base Day Futures of one quarter shortly after the end of the quarter. This average value is published as KWK-Index.

    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 (THE). 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).

    EEX Monthly Index

    The EEX Monthly Index is calculated and published as an average of all daily settlement prices for Natural Gas Futures in the respective front month and reflects their respective market value. This Index will be provided for several market areas for Natural Gas.

    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).

    2023-09-05 Index Description V016 - English Specifications Indices pdf (469 KB)
    2023-09-05 Index Description V016 - English (Track Changes) Specifications Indices pdf (494 KB)

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