European Commissioner backs power exchange merger
EU energy commissioner Andris Piebalgs has backed the merger of Germany’s European Energy Exchange (EEX) and France’s Powernext to create single Franco-German power spot and futures markets.
Speaking at a press conference in Brussels today, Piebalgs called the joint venture between the exchanges “an important step towards creating an integrated European power market”.
He observed that market integration will improve liquidity and transparency, helping to counter rising household energy bills and improving security of supply.
The boards of the two exchanges announced their planned merger in December 2007.The merged entity’s spot trading will be carried out in Paris, while the futures
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