EPEX SPOT’s (formerly APX Power UK) base and peak load day products, weekend products and combination blocks are listed on EuroLight for trading, clearing and notification by EPEX SPOT. In addition, EPEX SPOT lists base and peak week products.
|Contract||Period Covered||Hrs||Opens for Trading|
|Weekend base||23:00 Fri – 23:00 Sun||48||Rolling 2 weekends, open at any time|
|Base||23:00 – 23:00||24||Rolling 7 days|
|Peak||07:00 – 19:00||12||Rolling 7 days|
|Extended peak||07:00 – 23:00||16||Rolling 7 days|
|Off peak||23:00 – 7:00 + 19:00 – 23:00||12||Rolling 7 days|
|Blocks 3 + 4||07:00 – 15:00||8||Rolling 7 days|
|Overnight||23:00 – 07:00||8||Rolling 7 days|
EPEX SPOT Fee Schedule
|Membership (per annum)||Fee|
|ECV Notification Service||£12,000|
|Clearing Membership (applied once per entity per year)||£2,700|
|Technology (applied once per entity per year)||£4,410|
Spot and Forward Power Markets Transaction Fees
|Product||Trading Fee (p/MWh)||Clearing Fee (pMWh)|
|≤ 2hrs Spot Power Continuous Orders or |
≥ 4 hrs Spot Power Continuous Orders matched after 18:00 on D-1
|≥ 4hrs Spot Power Continuous Orders matched before 18:00 on D-1||1.25||0.5|
|Trades via OTC give-up service||0||1.75|
|Pending ECV Notifications**||1.5||0|
* A trading fee rate of 1.5p/MWh for trades arising from Spot Power Auction is offered until end of 2013 and shall revert to a standard trading fee of 3p/MWh as of 1 January 2014.
** To the extent only that the total amount owing in respect of all Pending ECV Notifications in the calendar month exceeds the ECV Notification Service monthly fee.
Clearing & Settlement
EPEX SPOT is the central counterparty to all trades; all contracts are traded anonymously, then cleared and settled on behalf of Members. All Members are required to lodge collateral in the form of Cash or Letter of Credit in excess of outstanding exposures at all times.
All trades are notified to the industry ECVAA (Energy Contract Volume Aggregation Agent) immediately on behalf of Members. EPEX SPOT also offers third-party notification services, acting as the ECVNA (Energy Contract Volume Notification Agent).
In order to take part in the EPEX SPOT market, prospective members must first accede to the market rules of EPEX SPOT. The process for new members is the subject of a separate document (available on request).