Power Futures

    Exchange Trading and Trade Registration of EEX Power Futures enable medium to long-term portfolio optimisation.

    Our market participants have access to the most liquid financial power future contract in Europe – the EEX German Power Future. After the split of the German and Austrian price zone, the EEX German Power Future is the benchmark product for European power along the whole curve. Over the past months, trading volumes in the Austrian power market have also picked up significantly.

    Our service for the Power Derivatives Markets

    • Standard (month, quarter, year) as well as short-term maturities (day, weekend, week futures) available for trading
    • Exchange Trading and Trade Registration available from 8 am to 6 pm CET
    • Close customer support through our Market Operations team

    Power Futures Product Overview

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration 8:00 am to 6:00 pm (CET)

    Day, weekend, current week and next 4 weeks, current month and next 9 months, next 11 quarters and next 6 years

    1 MW

    € 0.01 per MWh

    Cash settlement/ Physical fulfilment

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The current and the next six month, seven quarters and six years

    1 MW

    € 0.01 per MWh

    Cash settlement / Physical fulfilment

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The current and the next 4 weeks, the current month and next 6 months, next 7 quarters and 6 years

    1 MW

    0.01 €/MWh

     

    Cash settlement

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The current and the next 4 weeks, the current month and next 6 months, next 7 quarters and 6 years

    1 MW

    € 0.01 per MWh

    Cash settlement 

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The respective next 34 days and the next 5 weekends, the current week and next 4 weeks,  current month and next 6 months, next 7 quarters and 6 years

    1 MW

    0.01 €/MWh

     

    Cash settlement

    EEX Danish DK1 Power Future - Århus

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Next 9-13 days, next 2 weekends, current and next four weeks, current and next six month, seven quarters and six years.

    1 MW

    € 0.01 per MWh Cash settlement

     

    EEX Danish DK2 Power Future - Copenhagen

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Next 9-13 days, next 2 weekends, current and next four weeks, current and next six month, seven quarters and six years.

    1 MW

    € 0.01 per MWh

    Cash settlement

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The respective next 34 days and the next five weekends, the current and the next four weeks, the current month and the next six months, seven quarters and ten* years

    1 MW

    € 0.01 per MWh

    Cash settlement / Physical fulfillment

     

    *available as of 25 November 2024

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Current and next six month, seven quarters and six years.

    1 MW

    € 0.01 per MWh

    Cash settlement

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The respective next 34 days and the next five weekends, the current and the next four weeks, the current month and the next six months, seven quarters and ten* years

     

    1 MW

    € 0.01 per MWh

    Cash settlement / Physical fulfillment

     

    *available as of 25 November 2024

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

     

    Trade Registration
    8:00 am to 6:00 pm (CET)

    Day (base only), weekend (base only), current week and next 4 full weeks (base and peak), current month and next 3 full months (base and peak), next 4 full quarters  (base and peak), the next 4 full seasons (base and peak) and next 2 full years  (base and peak)

    1 MW

    GBP 0.01 per MWh

    Cash settlement/ Physical fulfilment

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration 8:00 am to 6:00 pm (CET)

    Day, weekend, current week and next 4 weeks, current month and next 9 months, next 11 quarters and next ten years

    1 MW

    € 0.01 per MWh

    Cash settlement/ Physical fulfilment

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    The current and the next six months, seven quarters and six years

    1 MW

    € 0.01 per MWh

    Cash settlement

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The respective next 34 days and the next 5 weekends, the current week and the next 4 weeks, the current month and the next 6 months, the next 7 quarters and 6 years

    1 MW

    0.01 €/MWh

     

    Cash settlement

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    Tradeable Maturities: The current month and the next six months, seven quarters and six years

    1 MW

    € 0.01 per MWh

    Cash settlement

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Day, weekend, the current week and the next four weeks, the current month and the next six months, next 11 quarters and next ten years

    1 MW

    € 0.01 per MWh

    Cash settlement

    EEX Japanese Power Tokyo Area Future

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Trade Registration
    9:00 am to 6:00 pm (JST)

    Next 9-13 days, next 2 weekends, current and next 4 weeks, the current and next 9 full months, next 7 full quarters, next 8 full seasons* and 6 full years.

    1 MW

    0.01 ¥/kWh

     

    Cash settlement

     

    EEX Japanese Power Kansai Area Future

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Trade Registration
    9:00 am to 6:00 pm (JST)

    Current and next 4 weeks, the current and next 9 full months, next 7 full quarters, next 8 full seasons* and 6 full years

     

    1 MW

    0.01 ¥/kWh

     

    Cash settlement


    *A Season comprises either October through March (Winter Season) or the respective months April through September (Summer Season). Extended Seasons maturities available from 25 November 2024.

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Current and next four weeks, current and next six month, eleven quarters and ten years.

    1 MW

    € 0.01 per MWh

    Cash settlement

    EEX Norwegian NO1 Power Future - Oslo

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Current and next four weeks, current and next six month, seven quarters and six years.

    1 MW

    € 0.01 per MWh Cash settlement

     

    EEX Norwegian NO2 Power Future - Kristiansand

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Current and next four weeks, current and next six month, seven quarters and six years.

    1 MW

    € 0.01 per MWh

    Cash settlement

     

    EEX Norwegian NO3 Power Future - Trondheim

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Current and next six month, seven quarters and six years.

     

    1 MW

    € 0.01 per MWh

    Cash settlement

     

    EEX Norwegian NO4 Power Future - Tromsø

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Current and next six month, seven quarters and six years.

     

    1 MW

    € 0.01 per MWh

     

    Cash settlement

    EEX Norwegian NO5 Power Future - Bergen

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Current and next six month, seven quarters and six years.

    1 MW

    € 0.01 per MWh

    Cash settlement

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The current month and the next 6 months, next 7 quarters and 6 years

    1 MW

    0.01 €/MWh

     

    Cash settlement

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The current and the next 4 weeks, the current month and next 6 months, next 7 quarters and 6 years

    1 MW

    0.01 €/MWh

     

    Cash settlement

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The current and the next 4 weeks, the current month and next 6 months, next 7 quarters and 6 years

    1 MW

    0.01 €/MWh

     

    Cash settlement

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The current month and next 6 months, next 7 quarters and 6 years

    1 MW

    0.01 €/MWh

     

    Cash settlement

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    Exchange trading
    8:00 am to 6:00 pm (CET)

    Trade Registration
    8:00 am to 6:00 pm (CET)

    The current and the next 4 weeks, the current month and next 6 months, next 7 quarters and 6 years

    1 MW

    0.01 €/MWh

     

    Cash settlement

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Day, weekend, the current week and next four weeks, the current and the next six months, next 11 quarters and ten years

    1 MW

    € 0.01 per MWh

    Cash settlement

    EEX Swedish SE1 Power Future - Luleå

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Day, weekend, the current week and the next four weeks, the current month and the next six months, seven quarters and six years

    1 MW

    € 0.01 per MWh Cash settlement

     

    EEX Swedish SE2 Power Future - Sundsvall

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Current and next four weeks, current and next six month, seven quarters and six years.

    1 MW

    € 0.01 per MWh

    Cash settlement

     

    EEX Swedish SE3 Power Future - Stockholm

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Current and next four weeks, current and next six month, seven quarters and six years.

    1 MW

    € 0.01 per MWh

    Cash settlement

     

    EEX Swedish SE4 Power Future - Malmö

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Current and next four weeks, current and next six month, seven quarters and six years.

    1 MW

    € 0.01 per MWh

    Cash settlement

    Trading hours

    Tradable Maturities

    Delivery rate

    Tick size

    Fulfilment

    8:00 am to 6:00 pm (CET)

    Day, weekend, the current week and the next four weeks, the current month and the next six months, seven quarters and six years

    1 MW

    € 0.01 per MWh

    Cash settlement/ Physical fulfilment


    EEX German Power Future

    Advantages 

    • The EEX German Power Future is the most liquid contract for European power with fast growing open interest and trading volumes for maximum liquidity.

    Product overview

    The EEX German Power Future is a financial derivatives contract referring to the average power spot market price future delivery periods of the German market area.

    • The EEX German Power Future enables hedging against price risk for the German Power market.
    • EEX German Power Futures are available as base load and peak load contracts.
    • Maturities cover day, week, weekend, month, quarter and year contracts on the regulated market.
    • The underlyings of the EEX German Power Futures are based on the EPEX day-ahead prices for the market area of Germany.

    Power Future Spreads

    Location Spread products - trading price differences between the different EEX markets

    EEX offers Location Spread products with guaranteed execution for selected financially settled power futures. The Spreads enable trading participants to efficiently trade the price differences between these delivery areas.

    The Location-Spreads are available for the following combinations:

    Power Futures Spreads product overview

    EEX German Power Future against
    EEX Austrian Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX Belgian Power Future against

    EEX French Power Future

    Base

     

    Month, Quarter, Year

     

       

    EEX Dutch Power Future against

    EEX Belgian Power Future

    Base, Peak

     

    Month, Quarter, Year

       

    EEX Dutch Power Future against
    EEX Belgian Power Future

    Base

     

    Month, Quarter, Year

     

    EEX Dutch Power Future against
    EEX French Power Future

    Base, Peak

     

    (Week), Month, Quarter, Year

     

    EEX Dutch Power Future against
    EEX German Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX Belgian Power Future against
    EEX French Power Future

    Base

     

    Month, Quarter, Year

     

    EEX Dutch Power Future against
    EEX French Power Future

    Base, Peak

     

    (Week), Month, Quarter, Year

     

    EEX Italian Power Future against
    EEXFrench Power Future

    Base, Peak

     

    Week, Month, Quarter, Year

     

    EEX German Power Future against
    EEX French Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX Spanish Power Future against
    EEX French Power Future

    Base

     

    Week, Month, Quarter, Year

     

    EEX Swiss Power Future against
    EEX French Power Future

    Base

     

    Week, Month, Quarter, Year

    EEX German Power Future against
    EEX-PXE Czech Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX French Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX-PXE Hungarian Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX Nordic Power Future

    Base

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX-PXE Polish Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX Austrian Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX-PXE Serbian Power Future

    Base

     

    Week, Month, Quarter, Year

     

    EEX German Power Future against
    EEX-PXE Slovakian Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX Dutch Power Future against
    EEX German Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX Italian Power Future against
    EEX German Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX Swiss Power Future against
    EEX German Power Future

    Base

     

    Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX Greek Power Future

    Base

     

    Month, Quarter, Year

     

    EEX Italian Power Future against
    EEX Greek Power Future

    Base

     

    Month, Quarter, Year

    EEX Italian Power Future against
    EEX French Power Future

    Base, Peak

     

    Week, Month, Quarter, Year

    EEX Italian Power Future against
    EEX Greek Power Future

    Base

     

    Month, Quarter, Year

    EEX Italian Power Future against
    EEX-PXE Hungarian Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX Italian Power Future against
    EEX German Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX Italian Power Future against
    EEX-PXE Serbian Power Future

    Base

     

    Week, Month, Quarter, Year

    EEX Italian Power Future against
    EEX-PXE Slovenian Power Future

    Base, Peak

     

    Week, Month, Quarter, Year

     

    EEX Italian Power Future against
    EEX Swiss Power Future

    Base

     

    Week, Month, Quarter, Year

    EEX German Power Future against
    EEX Nordic Power Future

    Base Month, Quarter, Year

    EEX-PXE Hungarian Power Future against EEX-PXE Bulgarian Power Future

    Base

     

    Week, Month, Quarter, Year

    EEX-PXE Czech Power Future against
    EEX-PXE Polish Power Future

    Base, Peak

     

    Month, Quarter, Year

    EEX-PXE Czech Power Future against
    EEX-PXE Slovakian Power Future

    Base, Peak

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX-PXE Czech Power Future

    Base, Peak

     

    Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX-PXE Bulgarian Power Future

    Base

    Week, Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX Greek Power Future

    Base

    Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX-PXE Romanian Power Future

    Base, Peak

    Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX-PXE Serbian Power Future

    Base

    Week, Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX-PXE Slovenian Power Future

    Base, Peak

    Week, Month, Quarter, Year

    EEX-PXE Czech Power Future against
    EEX-PXE Polish Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX-PXE Polish Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX-PXE Slovakian Power Future against
    EEX-PXE Polish Power Future

    Base, Peak

     

    Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX-PXE Romanian Power Future

    Base, Peak

     

    Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX-PXE Serbian Power Future

    Base

     

    Week, Month, Quarter, Year

     

    EEX Italian Power Future against
    EEX-PXE Serbian Power Future

    Base

     

    Week, Month, Quarter, Year

     

    EEX German Power Future against
    EEX-PXE Serbian Power Future

    Base

     

    Week, Month, Quarter, Year

    EEX-PXE Slovakian Power Future against
    EEX-PXE Hungarian Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX-PXE Slovakian Power Future against
    EEX-PXE Polish Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX German Power Future against
    EEX-PXE Slovakian Power Future

    Base, Peak

     

    Month, Quarter, Year

     

    EEX-PXE Czech Power Future against
    EEX-PXE Slovakian Power Future

    Base, Peak

     

    Month, Quarter, Year

    EEX-PXE Hungarian Power Future against
    EEX-PXE Slovenian Power Future

    Base, Peak

     

    Week, Month, Quarter, Year

     

    EEX Italian Power Future against
    EEX-PXE Slovenian Power Future

    Base, Peak

     

    Week, Month, Quarter, Year

    EEX Spanish Power Future against
    EEX French Power Future

    Base

     

    Week, Month, Quarter, Year

    EEX Swiss Power Future against
    EEX French Power Future

    Base Week, Month, Quarter, Year

    EEX Swiss Power Future against
    EEX German Power Future

    Base Month, Quarter, Year

    EEX Italian Power Future against
    EEX Swiss Power Future

    Base Week, Month, Quarter, Year

    The number of tradable contracts results from the underlying legs.

    Cascading

    EEX Power Futures are underpinned by the cascading methodology of delivery, which is managed by EEX’s clearing house, ECC.

    A detailed overview of the cascading process can be found in the ECC Cascading Explainer below.

    Publishing date Title File
    2022-02-08 ECC Cascading Explainer pdf (330 KB)

    Future-to-Spot Service

    EEX, in cooperation with EPEX SPOT, offers a Future-to-Spot Service (FTS-Service) to enter bids in the corresponding EPEX SPOT day-ahead auction according to the participants' respective position in an EEX power futures product. This service is available for trading participants simultaneously admitted to participate in the EEX power futures market and the EPEX SPOT power spot market.

    The service is offered for the following EEX power futures products:

    • EEX German Power Future / week and month contracts
    • EEX Austrian Power Future / month contracts
    • EEX French Power Future  / week and month contracts
    • EEX Dutch Power Future / week and month contracts
    • EEX Swiss Power Future / week and month contracts
    • EEX Belgian Power Future / month contracts
    • EEX GB Power Future / week and month contracts
    • EEX-PXE Polish Power Future / month contracts
    • EEX Danish DK1, DK2 Power Future / week and month contracts
    • EEX Finish Power Future / month contracts
    • EEX Norwegian NO1, NO2 Power Futures / week and month contracts
    • EEX Norwegian NO3, NO4, NO5 Power Futures / month contracts
    • EEX Swedish SE1 Power Futures / month contracts
    • EEX Swedish SE1, SE2, SE3 Power Futures / week and month contracts

    In order to use the Future-to-Spot Service, a separate FTS-Portfolio is required for the respective market area, which can be applied for at EPEX SPOT. Fees can be found in the current price list of EPEX SPOT.

    Initiation of Future-to-Spot Service

    Automatically via EEX Initiation Service Manual via trading participants1
    • Creation and forwarding of bidding sheets for the respective EPEX day-ahead auction(s) through EEX (subscription via service order from required)
    • Registration of bidding sheets in the auction system by EPEX SPOT
    • Confirmation of registered bids in the auction system by the trading participant
    • Participation in the day-ahead auction(s) of the respective market area(s) 
    • Creation and forwarding of the bidding sheets for the respective day-ahead auction(s) through trading participant
    • Registration of bidding sheets in the auction system by EPEX SPOT
    • Confirmation of registered bids in the auction system by the trading participant
    • Participation in the day-ahead auction(s) of the respective market area(s)
    Following the successful auction, the nomination takes place according to the concluded spot transaction(s) based on the valid trading conditions of EPEX Spot and Clearing conditions of ECC.

    1Not available for EEX Danish, Finnish, Swedish and Norwegian Power Futures. Please use the EEX Initiation Service.

    EPEX SPOT

    EPEX SPOT operates the power spot markets offering Day-ahead and Intraday Trading, Capacity Auctions, Market Coupling and Market Operation Services.

    visit epex spot

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