Powernext

From MarketsWiki
Jump to navigation Jump to search



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[edit]

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[edit]

References[edit]