After the launch of Bulgarian, Slovenian, and Serbian power futures, the European Energy Exchange (EEX) will prepare the introduction of Croatian power futures.
EEX and the Croatian Power Exchange (CROPEX) have signed an agreement to jointly develop a power derivatives market for Croatia.
According to CROPEX, since launching in 2014, the power exchange has actively grown its spot market, achieving a total trading volume of 6,447 GWh in 2020 in its day-ahead and intraday markets.
CROPEX said it agreed with EEX to work on the introduction of power derivatives for the Croatian market in 2022.
EEX expanded its product range on the derivatives market in June 2019 with power futures for the market areas of Bulgaria, Slovenia and Serbia.
EEX has more than tripled the cleared volumes in Central and South-Eastern Europe
Tobias Paulun, CSO of EEX, said the cooperation with CROPEX represents an important next step in the strategic development of the Central and South-Eastern European power markets.
“Since the migration of the PXE power futures onto the EEX platform in 2017 and the further extension into the South-Eastern European power markets of Slovenia, Bulgaria and Serbia in 2019, we have more than tripled the cleared volumes in Central and South-Eastern Europe. With the introduction of Croatian power futures, we are facilitating our customers’ wish to further extend the offering in this region,” he said.
According to Silvio Brkić, President of the Management Board of CROPEX, establishing long-term reference prices will not only enable price hedging but also positively contribute to the overall development and performance of the Croatian power market.