Prague energy bourse PXE adds new futures

27.08.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

The Prague Energy Exchange (PXE) launched trading in new annual, quarterly and monthly futures contracts on Monday, widening its product...

...portfolio a month after trading began.

The PXE said it added annual 2008 and 2009 contracts for peak power, quarterly base and peak contracts for 2008 and monthly base and peak contracts for January, February and March 2008.

The addition follows Friday's introduction of annual baseload contracts for 2008 and 2009. Those replaced the previously traded compound 2008-2009 contract, which ceased to be quoted on Monday.

The compound contract was introduced temporarily, with a fixed 2008 price and freely floating 2009 price, in order to reduce volatility at the new exchange.

Basload power prices for 2008 stood at 53.25 euros per megawatthour on Monday, a touch below 53.85 quoted in Germany, while 2009 power was quoted at 54 euros.

The 2008 price is some 20 percent above this year's wholesale prices in the Czech Republic, pointing to a retail power price hike next year.

[PRAGUE/Reuters/Finance.cz]

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