Financial crisis hits European Energy Exchange

Trading volumes of power decreased in both the spot and derivatives markets. Power spot volumes fell by 6% from 77.5 terawatt hours to 73.2 TWh in the first half of 2009 in comparison with the previous year. The reduction in physical delivery has been blamed for the decline amongst other factors. On the power derivatives side, trading volumes also dropped 11% from 616 TWh in the first half of 2008 to 547 TWh in the first half of 2009. By contrast, however, the open interest on the power deri