Austrian energy exchange to start this month

4 Mar 2002 – Austria’s new power exchange, Energy Exchange Austria (EXAA), expects to be trading by 21 March this year, according to a statement released Friday.

The announcement followed a board meeting in Graz, where the exchange will be located. The EXAA already has four participants signed up with a further 17 parties having expressed interest in joining. Nine of these are from outside Austria.

The bourse is expecting to trade about 1.5 per cent of Austria’s electricity demand in 2002.

The exchange is 32 per cent owned by the Vienna Stock Exchange, with the other shares in the hands of utilities, banks and Smart Technology, the software provider. The EXAA, which has been established to take advantage of the liberalizing Austrian power sector, said that it expects to bring forward the date for gas trading to the fourth quarter of 2002 from next year.

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