July 24 2002 – Energie Baden-Wuerttemberg AG and Powergen UK, a unit of Germany’s E.ON, have recently joined Powernext SA, the electricity spot market in France, the exchange said Tuesday.
With the addition of these two power companies, Powernext has a total of 26 members. Powernext is a project of Euronext SA, the stock market body created through the merger of the Paris, Brussels and Amsterdam stock exchanges and the London International Financial Futures and Options Exchange.
The exchange started November last year, and offers physical electricity trading in hourly blocks for the following day. Daily trading volume for electricity delivered to the French grid Tuesday was 8711 MWh.
Euronext has a 34 per cent stake in Powernext, while a holding company of French, Dutch and Belgian grid operators has 17 per cent. The rest is held by investors including Electricite de France, TotalFinaElf, Belgium’s Electrabel, Swiss power company Atel, Spain’s Grupo Endesa SA, and French banks BNP Paribas and Societe Generale.
Separately, Powernext is now authorized to schedule and bill electricity deliveries for EDF’s quarterly auctions of power production, Powernext announced last week. French electricity regulator, CRE, and market participants criticized the previous system, whereby EDF Trading assumed this role, because it gave the EDF unit access to commercially sensitive information.