Powernext

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Powernext
Powernext.jpg
Founded 2001
Headquarters Paris
Key People Jean-François Conil-Lacoste, CEO
Products Electricity exchange
Website http://www.powernext.fr/index.php?newlang=eng

Powernext, launched in July 2001, is a Paris-based electronic trading platform for spot and derivative energy contracts. The firm was founded by a consortium of power grid firms, energy companies and financial institutions including HGRT, Euronext, EDF, Société Générale, BNP Paribas, TotalFinalElf and Electrabel.[1]

Powernext is regulated by the French Authority for Financial Markets (Autorité des Marchés Financiers (France)) and the (Autorité de Contrôle Prudentiel et de Résolution - ACPR) of Banque de France.

In October 2014, the European Energy Exchange (EEX), part of Deutsche Boerse Group, purchased a majority interest in Powernext through an exchange of shares.[2] Upon the close of the deal, EEX will own 55.8 percent of the company.[3]

Under the terms of the deal, PEGAS, a joint venture between EEX and Powernext that offers spot and futures prices, intra-day and weekend prices, as well as location-based energy spreads, will be operated by Powernext as of 2015.

Products and Services

Powernext lists several electronic energy markets with straight-through processing:[4]

  • Powernext Gas Spot and Powernext Gas Futures launched on 26th November 2008 in order to hedge volume and price risks for natural gas in France.
  • Powernext and EEX launched PEGAS on 29 May 2013, a commercial cooperation where the 2 exchanges combine their gas markets to create a pan-European gas market.
  • Powernext Energy Savings, a dedicated spot market for French White Certificates (Certificats d’Economies d’Energie) launched on 10th January 2012.
  • Powernext owns a 50% equity stake in EPEX SPOT and a 20% in EEX Power Derivatives.

Key People

References

  1. History. Powernext.
  2. German EEX acquires majority stake in Powernext to strengthen gas. Platts.
  3. German power bourse EEX to take majority stake in Powernext. Reuters.
  4. Company Profile. Powernext.