French power exchange commences trading

The French electricity exchange Powernext, began trading yesterday by posting 996 MW in transactions. Prices, which were determined by the time of electricity delivery, ranged from €20.037 to €45.057)

At the same time, trading was heaviest at 12pm (74 MW) and between 6pm and 8pm (79 MW for each slot in this period).

Six members participated in this first day of trading, including the French company EDF Trading (EDF), the Belgian energy group Electrabel SA and the Spanish electricity leader Endesa SA. Moreover, Powernext has announced that they should be joined by another 10 members in the coming weeks.

The new exchange, which aims to handle 10 per cent of electricity consumption in France within four to five years, is 34 per-cent owned by the Paris-Brussels-Amsterdam stock exchange Euronext. Forty-nine per cent of its capital is divided among a number of groups, including EDF, Endesa, Electrabel and the French banks BNP Paribas SA and Societe Generale.

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