Powernext
Powernext is a Paris-based company operating a European energy exchange, owned by NYSE Euronext, providing an electronic market, similar to a stockmarket, for the trading of energy futures contracts and derivatives in Europe. Created in July 2001 with the opening of the European electricity market, Powernext has built a network of over 70 European members, including energy producers such as EDF, RWE, Electrabel, Endesa, end users, banks, brokers, traders, and retailers.
Powernext SA, incorporated in 2001, manages several complementary, transparent and anonymous energy markets:
- Powernext® Day-Ahead facilitates, 365 days a year, the hourly balancing of physical power delivered the following day on the French hub;
- Powernext® Futures provides electricity price risk hedging for a period ranging between one month and three years;
- Powernext® Balancing GRTgaz allows the Transmission System Operator GRTgaz to progressively cover its daily balancing needs through a market based mechanism.
Powernext recently announced the launch of a spot and futures national gas market by the end of 2008.
Powernext® Carbon, the leading spot CO2 market in Europe, was sold to NYSE Euronext in December 2007.