8 August 2002 – Britain’s power bourse, UK Power Exchange (UKPX), is set to enter the German electricity market within weeks by launching a clearing service for OTC trades.
UKPX has issued its fee schedules for its forthcoming clearing services for UK gas and German electricity markets. UK gas clearing fees are 0.006p per therm, while German power clearing fees are 0.75 Euro cents/MWh.
UKPX is also implementing revised fees for its existing UK electricity spot market, futures market and cleared only-contract services from 19th August 2002. These include the removal of the 1p/MWh for notification fees for futures contracts. Clearing fees will be reduced from 1p/MWh to 0.5p/MWh.
The notification fee for UKPX spot contracts has similarly been removed, with trading and clearing fees for spot contracts remaining unchanged. The exchange is also introduce a large order fee discount structure. The schemes provides for discounts of 20 per cent, 35 per cent and 50 per cent on applicable trading and clearing fees charged by UKPX depending upon the volume of individual transactions.
The changes are a reaction to poor trading volumes and stiff competition.