Italian power exchange to begin trade in Autumn

Italy's main stock exchange has cleared its final hurdle in the setting up the country's first power exchange by signing an agreement with regulator Gestore del Mercato Elettrico (GME) to use the national single price (prezzo unico nazionale - PUN) for settling its electricity contracts.

Borsa Italiana's power derivatives subsidiary IDEX will trade cash-settled power derivatives based on the PUN settlement price - an average of the separate regional power prices - later this year. The exchange wi

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