European Energy Exchange AG (EEX) has been offering trading in Bulgarian power futures denominated in EUR since June 2019 pursuant to an agreement concluded with Independent Bulgarian Energy Exchange EAD (IBEX EAD). The financial settlement of the instruments is based on the clearing price of the Day-ahead market segment, part of the power exchange market operated by IBEX EAD.
The products available in the EEX trading system are the following:
|FKB1-FKB5||PXE Bulgarian Power Base Week Future|
|FKBM||PXE Bulgarian Power Base Month Future|
|FKBQ||PXE Bulgarian Power Base Quarter Future|
|FKBY||PXE Bulgarian Power Base Year Future|
The diagram below illustrates the connection between the additional option for trading in Bulgarian power derivatives for hedging purposes and the existing market segments:
As shown above, the power futures with financial settlement traded on EEX do not directly affect the other long-term markets with physical settlement. They are an additional risk-hedging instrument. Only standard products with financial settlement based on the clearing price of the Day-ahead market segment of IBEX EAD are traded on this additional market, the transactions being cleared by European Commodity Clearing AG (ЕСС).
Market data on the power futures are available here. A list of the registered members from Bulgaria on the EEX market for Bulgarian power futures can be accessed at the following link.
Registration and further information: https://www.eex.com/en/access/admission
Certification trading, including the EEX trader examination: https://www.eex.com/en/trainings/comprehensive-exchange-trading-course .
In the attached presentation you can find information on the historical development of trading in Bulgarian power futures.
EEX is a leading power exchange in Europe which develops and operates a liquid and independent market for power and related products. EEX is part of Deutsche Börse Group. The EEX Group companies offer trading in power, emission allowances as well as agriculturals.