January Volume up by 27%; APX Launches Power UK Half Hour Day-Ahead Auction

  • Total traded volume up by 27% compared to January ‘14
  • Belpex markets see strong growth
  • Power UK Day-Ahead auction and Continuous market experience record volumes, a total of 3.19 TWh traded
  • APX successfully launches UK Half Hour Day-Ahead 15:30 Auction

AMSTERDAM/BRUSSELS/LONDON, 3 February 2015

Power spot and clearing exchange APX today announces the volumes of its power markets for the month of January. Another monthly record volume was reached in January with a total of 9.09 TWh traded and cleared across all markets, exceeding January ’14 volume by 27%.

The volumes traded on the Power NL Day-Ahead auction remained steady year-on-year and recorded a total of 3.84 TWh while 106 GWh was traded on the Dutch Intraday market.

The Belpex Day-Ahead registered 26% growth year-on-year with 1.85 TWh traded in January. 95 GWh was traded on the Belpex Intraday market.

The Power UK market experienced another month of record volume with a total of 3.19 TWh traded and cleared. The Continuous market recorded a healthy total volume of 1.46 TWh, up by 20% year-on-year. The Power UK Day-Ahead auction experienced another month of record volume with 1.73 TWh traded, up by over 240%.

The Power UK OTC Bilateral clearing registered 5.2 GWh.

Price Convergence and Day-Ahead Indices

In January, the CWE region had full price convergence for approximately 10% of the time. The Dutch price converged with the German price 20% and with the Belgian price 66% of the time. The Belgian price was converging with the French price 82% of the time.

The Dutch power index for the Day-Ahead Market, APX NL DAM Index, had a monthly average price of €40.80/MWh in January. Belix, the index for the Belpex Day-Ahead Market, had a monthly average price of€42.86/MWh. The UK power index for the Day-Ahead Market, UKPX Auction Base Index, had a monthly average price of £39.31/MWh.

Spot Indices

UKPX RPD Spot Base Load Index (derived from APX Power UK’s Reference Price Data (RPD)) had a high of £49.97/MWh on 19 January and a low of £31.42/MWh on 2 January.

UKPX RPD Spot Industrial Peak Load Index (also RPD-derived) had a high of £36.24/MWh on 1 January and a low of £60.26/MWh on 19 January.

Launch of UK Half Hour Day-Ahead 15:30 Auction

APX today confirms the launch of the UK Half Hour Day-Ahead 15:30 Auction. The first auction was successfully run today with a total of 5 GWh traded.

The half-hour auction is an innovative new market which aims to focus liquidity of half hour contracts into an auction to allow market parties to better balance their physical exposure and to optimise their position. The market is run at 15:30 on the day before delivery and after the outcome of the market-coupled auction.

The APX UK Market Development Advisory Board (MDAB) welcomes the launch of the new auction by APX. The MDAB expects that the new auction will complement APX’s existing markets and create new liquidity in the GB market, which will help all market parties in managing their positions and to avoid physical imbalance costs.

The chairman of the UK MDAB, Ewan Stott, said of the development “establishing this new market is an important achievement. This initiative is strongly supported across APX wide membership base and throughout the organisations represented on the board. The MDAB welcomes the speed of development and is committed to supporting this auction to ensure its enduring success”.

– ENDS

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