EPEX SPOT (formerly APX Power UK) offers physical electricity products for trading on its 24/7 electronic platform, EuroLight. The spot market is used for balancing and trading purposes and consists of half hourly products of electricity as well as discrete standardised blocks made up of the individual half hours. All Spot products traded on the EuroLight platform are automatically cleared and notified providing a fully integrated and efficient solution for members.
The spot products, listed below, contribute to the EPEX SPOT RPD (Reference Price Data) and Spot Indices.
|Contract||Period Covered||Hrs||Opens for Trading|
|4 Hrs block||6 blocks/day, block 1 begins 23:00; block 6 ends 23:00||4||Rolling 7 days|
|2 Hrs block||12 blocks/day, block 1A begins 23:00; block 6B ends 23:00||2||49 1/2 Hrs prior to start of delivery|
|1 Hr block||24 blocks/day, block 23 begins at 23:00; block 22 ends 23:00||1||48 Hrs prior to start of delivery|
|Half hour block||48 periods/day, 1/2 Hr 1 begins 00:00; 1/2 Hr 48 to end 00:00||0.5||49 1/2 Hrs prior to start of delivery|
EPEX SPOT (formerly APX Power UK) 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|
* 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).