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BELGRADE (Serbia), May 30 (SeeNews) - Belgrade-based South East European Power Exchange (SEEPEX) plans to launch trading in energy futures on June 3 in cooperation with the European Energy Exchange (EEX), the executive director of SEEPEX, Milos Mladenovic, has said.
"Derivatives are a way of controlling risk for all market participants, which is especially important for the electrical energy market due to the high price volatility, we know that this price is highly variable and depends on many factors," Mladenovic said in a video file published on the website of news agency Tanjug on Wednesday.
The futures represent an opportunity for companies to control risk and improve the long-term planning of their business, Mladenovic said.
SEEPEX has been providing a reference price for a day ahead, while now there will be a reference price for up to six years.
The South East European Power Exchange said it has entered into a cooperation agreement with the European Energy Exchange (EEX) for the listing of cash-settled power futures in early 2019. EEX will list Base Months, Quarters and Year Futures for the Serbian market area and the products will be settled against the Serbian day-ahead spot price as calculated by SEEPEX.
SEEPEX operates an organised Serbian electricity market with standardised electricity products and delivery within a day-ahead time frame. Clearing and settlement are provided by European Commodity Clearing (ECC).