Today, the European Energy Exchange (EEX) will officially open its office in Milan with an evening reception. The move follows the successful entry of EEX in the Italian energy market.
“The Italian market increasingly gains in importance for EEX”, explains Peter Reitz, Chief Executive Officer of EEX. “Our sales office in Milan will serve to even better support our customers on site and to better understand the market’s needs for further development”. Two employees have already taken up work at the new premises in the heart of Milan.
EEX has launched Trade Registration services for the Italian market as early as October 2013. Following positive customer feedback, exchange trading for this market was launched in April 2014. In the first three quarters of the year, EEX registered a volume of 65.0 TWh in Italian Power Futures, including 55.0 TWh from Trade Registration and 10.1 TWh from exchange trading. The market share of EEX in the Italian Market amounted to over 20 percent in September. More than 100 customers are already admitted to this market and the first Italian Clearing Member Banca Akros joined EEX’s clearing house European Commodity Clearing (ECC).
"Following its entry into the Italian market, EEX has further extended its geographical reach“, says Reitz. "EEX Group is growing further and strengthens its position as the leading market place for energy and related products. The acquisition of the majority shares in Powernext with whom we have worked together for many years further contributes to this“. Within the framework of the acquisition of shares, EEX will become majority shareholder in Powernext and, indirectly, in EPEX SPOT from 1 January 2015. As such, both companies will become part of EEX Group which will comprise over 300 employees in eleven locations as well as over 360 trading participants.
The European Energy Exchange (EEX) is the leading energy exchange in Europe. It develops, operates and connects secure, liquid and transparent markets for energy and related products on which power, natural gas, CO2 emission allowances, coal and guarantees of origin are traded. Through its majority shareholding in Cleartrade Exchange (CLTX), EEX additionally offers the markets for freight, iron ore, fuel oil and fertilisers. Clearing and settlement of all trading transactions are provided by the cleaiing house European Commodity Clearing (ECC). EEX is a member of Eurex Group.