June 6, 2018 / 10:10 AM / 19 days ago

European energy bourse to launch Serbian power futures in 2019

BELGRADE, June 6 (Reuters) - Serbia’s power bourse SEEPEX and the European Energy Exchange(EEX), the continent’s biggest power trading venue, will start trading Serbian power futures in 2019, SEEPEX said on Wednesday.

EEX will list month-ahead, quarter-ahead and year-ahead contracts for the Serbian market area, it said. The products will be settled against the Serbian day-ahead spot price as calculated by SEEPEX.

“The listing of Serbian power futures at EEX will contribute to further developing liquidity and confidence,” Milos Mladenovic, Managing Director of SEEPEX, said in a statement.

EEX Chief Strategy Officer, Tobias Paulun, said the move was part of its efforts to create a pan-European venue for power trading, with a focus on the emerging power business in eastern and southeastern European markets.

Both exchanges said market participants would benefit from the standard product setup which will enable them to use Serbian power futures as a tool to hedge against price risks in the local power spot market, as well as from high-level standards in derivatives trading and clearing services.

SEEPEX said in February it plans to merge its spot power business with Hungarian counterpart HUPX in a bid to foster a competitive, transparent and reliable electricity market in central and southeast Europe.

The deal was part of a wider agreement between the exchanges and grid operators of the two neighbouring countries, as well as Paris-based EPEX SPOT, which helped establish the bourses. (Reporting by Maja Zuvela, editing by Louise Heavens)

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