May 15 (SeeNews) - The European Energy Exchange (EEX), said that in cooperation with the Croatia Power Exchange (CROPEX) it will launch a market for Croatian power derivatives on June 26 as an important step in its geographical expansion.
“With the return of confidence in power derivatives markets and continued high trading volumes on natural gas markets, the new launches bring wider trading options across EEX key markets to meet broadening customer demand,” the Leipzig-based central European electric power and related commodities exchange said in a press release earlier this month.
Start of trading on the power derivatives market will for the first time establish a long-term reference price for the Croatian electricity market up to three years ahead and enable market participants to protect themselves from price exposure in the future and project investors to plan their investments.
Croatian Power Derivatives on EEX will initially be introduced by setting up basic long-term financial derivatives (weekly, monthly, quarterly, and annually) with a base and peak profile, with the aim of further developing new products, in accordance with the interests of market participants.
In the power derivatives market, Croatian Futures are the latest addition to the EEX’s product portfolio with a variety of power base and peak futures, bringing the number of European markets with this product offering to 21.
CROPEX is a company set up to provide a central location for trading electricity to market participants in a safe, reliable and transparent way. It is equally owned by the Croatia’s energy market operator, Hrote, and the transmission system operator, Hops.