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Bonn, 13 April 2017 Page 1 of 2

Bundesnetzagentur announces successful bids in first auction for offshore wind farms

Jochen Homann: "Average award price of 0.44 ct/kWh far below expectations"

The Bundesnetzagentur has today announced the results of the first auction for grid connections and funding for existing offshore wind farm projects.

"The average weighted award price of 0.44 cents per kilowatt hour is far below expectations. This shows the auction has unlocked medium and long-term cost reduction potential, which will lead to a reduction in funding to an extent that had not been expected," said Jochen Homann, Bundesnetzagentur President, commenting on the outcome of the auction.

"Offshore wind energy is categorically proving its competitiveness. This is good news for all electricity consumers who contribute to funding renewable energy through the renewable energy surcharge," stated Mr Homann. "It remains to be seen, however, whether the prices in the next auction will be as low."

Auction results

Four bids were able to be accepted, taking account of the total volume up for auction of 1,550 megawatts (MW) and the possible grid connections.

The four successful bids are all for projects in the North Sea and amount to 1,490 MW and thus nearly the total volume that was available for auction.

The average award price was 0.44 cents per kilowatt hour (ct/kWh). The lowest price bid was 0.00 ct/kWh, and the highest price accepted was 6.00 ct/kWh.

Press Release

ADDRESS

Tulpenfeld 4 53113 Bonn

TEL +49 228 14–9921

FAX +49 228 14–8975 [email protected] www.bundesnetzagentur.de

(8)

Raising the awareness on forward markets

Reflecting the situation in the electricty market Regulation

Art 8.1 (Forward markets): Long-term forward/futures markets are an essential tool to manage the energy transition and the decarbonisation of the power sector. Any change to the electricity market design should therefore take into consideration the impact this has on forward/futures markets.

Energy transition: increased RES % in the power system

More price volatility

Increased value attached to long-term hedging

Growing forward trading

volumes

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2018/02/07 21(49 EEX Group Homepage

6 / 6

ページ

http://www.eex-group.com/eexg/

of EEX Group

Global Contacts

Contact

See more contacts

ContactContact

European Energy Exchange AG Augustusplatz 9

04109 Leipzig, Germany Tel.: +49 341 2156-0

Related WebsitesRelated Websites

A member ofA member of

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Coal

Delivery points:

Amsterdam, Rotterdam, Antwerp, Richards Bay

Metals

Iron Ore Tianjin European steel contracts

EEX Group organises markets for energy and commodity products

7 About EEX Group

Fuel Oil Hubs:

Singapore and Rotterdam

Oil Freight

Dry Bulk Shipping Routes

Fertiliser

Fertiliser DAP and Urea contracts

Power Spot

Germany/Austria, Luxembourg France

United Kingdom The Netherlands Belgium Switzerland

Market Operations for Hungarian the Power Exchange HUPX

Market operation services for South East European Power Exchange SEEPEX

NBP TTF

ZEE

TRS

NCG CEGH

PSV GAS POOL

PEGNORD ZTP

Power Derivatives

Exchange-traded EEX Power Futures

EEX Trade Registration Services for Power Futures ECC clearing for further exchanges

Natural Gas

Location spreads Natural Gas hubs New Natural Gas hubs

Emission Allowances

EUA Primary Market Auction for 25 EU member states, as well as Germany and Poland

ETF

(14)

8 About EEX Group

Overview of all

EEX Group products

Power Spot

Natural Gas Spot Power

Coal

Oil Natural Gas

Power Derivatives

Coal

Fuel Oil Natural Gas Derivatives

–

Austrian Power Spot (IT|DA)

–

Belgian Power Spot (IT|DA)

–

Dutch Power Spot (IT|DA)

–

French Power Spot (IT|DA)

–

French capacity guarantees

–

API 2 CIF ARA Coal Futures (F) ¹

–

API 4 FOB Richards Bay Coal Futures (F) ¹

–

API 5 FOB Newcastle Coal Futures (F) ^1,*

–

3.5 % FOB Barges Rotterdam Oil Futures (F|SGX) ³

–

ETF Danish Natural Gas Spot (IT|DA)

–

GASPOOL German Natural Gas Spot (IT|DA)

–

Czech VTP Gas Spot (DA)

–

NCG German Natural Gas Spot (IT|DA)

–

Belgian Power Futures (F|P)

–

Czech Power Futures (F)

–

Dutch Power Futures (F|P)

–

French Power Futures (F|P)

–

French Power Options

–

German Intraday Cap Futures (F)

–

German/Austrian Wind Power Futures

–

Greek Power Futures (F)

–

Hungarian Power Futures (F|P)

–

Italian Power Futures (F)

–

Czech Natural Gas Futures (P)

–

ETF Danish Natural Gas Month- Ahead (P)

–

GASPOOL German Natural Gas Futures (P)

–

NBP UK Natural Gas Futures (GBP|P)

–

NCG German Natural Gas Futures (P)

–

German Power Spot (IT|DA)

–

Serbian Power Spot

–

Swiss Power Spot (IT|DA)

–

UK Power Spot (IT|DA)

–

API 8 CFR South China Coal Futures (F) ^1,*

–

Indonesian Sub-bituminous Coal Futures (F) ^2,*

–

Options on API 2, API 4, API 5 (F) *

–

Cargoes Singapore Oil Futures (180 CST FOB, 380 CST FOB) (F|SGX) ³

–

TTF Dutch Natural Gas Spot (IT|DA)

–

ZEE Belgian Natural Gas Spot (IT|DA)

–

ZTP Belgian Natural Gas Spot (IT|DA)

–

NBP UK Natural Gas Spot (IT|DA)

–

PEG NORD French Natural Gas Spot (IT|DA)

–

TRS French Natural Gas Spot (IT|DA)

–

Italian Power Options

–

Nordic Power Futures (F)

–

Phelix Power Futures (F)

–

Phelix Power Options

–

Polish Power Futures (F)

–

Romanian Power Futures (F)

–

Slovak Power Futures (F|P)

–

Spanish Power Futures (F)

–

Spanish Power Options

–

Swiss Power Futures (F|P)

–

UK Power Futures (F)

–

PEG NORD French Natural Gas Futures (P)

–

PSV Italian Gas Futures (F|P)

–

TRS French Natural Gas Futures (P)

–

TTF Dutch Natural Gas Futures (P)

–

ZEE Belgian Natural Gas Futures (P)

–

ZTP Belgian Natural Gas Futures (P)

IT Intraday/Within-Day Trading, DA Day-Ahead Trading, P Physical Settlement, F Financial Settlement, * Upcoming

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Copyright 2015 – All rights reserved

Phelix Futures

A Growth Story

Page 4

The calculation of EEX’s market share is based on the figures published by the exchanges and the London Brokers’ Association (LEBA) every month.

Total market size (Jan – Jul 2015)

3,269 TWh (+11% yoy)

Thereof cleared market size (Jan – Jul 2015)

1,052 TWh (+46% yoy)

Thereof EEX (Jan – Jul 2015)

977 TWh (+41% yoy)

EEX share in cleared market 93%

0 2 4 6 8 10 12 14 16

0 20 40 60 80 100 120 140 160 180 200

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

2014 2015

Percent [%]

Volume [TWh]

Volume Phelix Futures (Exchange + TR)

Days Weeks Months Quarters Years Volatility (Source: Thomson Reuters)

(16)

Spot Market, EPEX SPOT

Day-Ahead Auction for: Germany/Austria, Luxembourg, France, United Kingdom,

The Netherlands, Belgium and Switzerland

Intraday for: Germany/Austria, France, United Kingdom, The Netherlands, Belgium

and Switzerland

Derivatives Market, EEX & PXE

EEX Power Futures: Phelix Power Futures (DE/AT), Belgian Power Futures, Dutch

Power Futures, French Power Futures, Greek Power Futures, Italian Power Futures, Nordic Power Futures, Romanian Power Futures, Spanish Power Futures, Swiss Power Futures, UK Power Futures, German Intraday Cap Futures, Wind Power Futures for Germany/Austria

PXE Power Futures: Czech Power Futures, Hungarian Power Futures, Slovak Power

Futures, Polish Power Futures, Romanian Power Futures

Power Options: Phelix Power Options (DE/AT), French Power Options, Italian Power

Options, Spanish Power Options

* Trade Registration product

11 Power

Product Overview

Covering

15

market areas in power spot and derivatives trading

TWh 4,000 3,600 3,200 2,800 2,400 2,000 1,600 1,200 800 400

Development of the Exchange Power Spot & Derivatives Volume

Spot Market Derivatives Market

2010 2011 2012 2013 2014 2015 2016

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United Kingdom The Netherlands Belgium Switzerland EPEX SPOT Markets

Market operation for the Hungarian Power Exchange HUPX

Market coupling for the Slovakian OKTE, Romanian OPCOM and HUPX

Market operation services for South East European Power Exchange SEEPEX Servicing other exchanges

Spot Market

535 ^TWh

Traded volume in 2016

Contact EPEX SPOT:

Paris

Phone: +33 173 0396 03 E-mail: [email protected] www.epexspot.com

13 Power > Spot Market

Market Areas

United Kingdom The Netherlands Belgium Switzerland EPEX SPOT Markets

Market operation for the Hungarian Power Exchange HUPX

Market coupling for the Slovakian OKTE, Romanian OPCOM and HUPX Market operation services for South East European Power Exchange SEEPEX Servicing other exchanges

Spot Market

535 ^TWh

Traded volume in 2016

Contact EPEX SPOT:

Paris

Phone: +33 173 0396 03 E-mail: [email protected] www.epexspot.com

13 Power > Spot Market

Market Areas

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Exchange-traded EEX Power Futures EEX Trade Registration Services for Power Futures ECC clearing for further exchanges

Exchange-traded PXE Power Futures (Czech Republic, Poland, Slovakia, Romania) Derivatives Market

3,920 ^TWh

traded EEX and PXE volume in 2016

Contact EEX Power Derivatives Sales Team:

Phone: +49 341 2156-555 E-mail: [email protected] www.eex.com/en/products/

power/power-derivatives- market

Contact PXE:

Phone: + 420 221 832 204 E-mail: [email protected] www.pxe.cz

Market Areas and Location Spreads

15 Power > Derivatives Market 14

Power Derivatives Market

Advantages

– Access to the most liquid financial power future contract in Europe – the Phelix Future

– Standard (Month, Quarter and Year) as well as short- term maturities (Day, Weekend and Week Futures) available for trading

– Exchange trading as well as Trade Registration services for major European markets as well as trading of price differences (spreads) between these markets

– Through PXE, additional access to Eastern European power markets

The derivatives market facilitates medium to long-term portfolio optimisation and comprises a range of power products for the main European markets. These include financially settled futures for the Belgian, Dutch, German/Austrian, French, Italian, Spanish, Swiss, UK and Nordic market areas as well as the Czech, Polish, Slovak and Romanian power markets. Location spreads can also be traded between the market areas. In addition, participants can register over-the-counter transactions for those market areas as well as for Greece and Romania.

Derivatives Market

3,920 ^TWh

traded EEX and PXE volume in 2016 Power > Derivatives Market

EEX offers additional power products on the derivatives market which are listed on a new trading platform (‘non-MTF’ platform). These products are cleared by ECC, thereby ensuring that trading is secure and anonymous. Additionally, these products can be physically settled and are therefore not financial instruments according to MiFID. Once MiFID II comes into effect, these products shall be listed on an OTF platform.

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Product Innovations for the ‚Energiewende‘

Page 15

Power Spot- Market

Derivatives Day/Weekend

Futures (DE/AT)

Market Coupling

2012

2011 2013 2014 2015 2016

15min. Contracts Intraday Market

(DE)

NWE-Market Coupling (CWE+UK+Nordics)

15-min Intraday Auction (DE) Intraday

Market (CH) Intraday

Market (AT)

Cap-Futures*

*Hedging against price risks in the Intraday market

Wind Power Futures Day/Weekend

Futures (FR/IT/ES)

Daily / Hourly Options FR/DE

cross-border intraday

Lead time reduction

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