EEX-Stock-Exchange Council: Start of the trade zone in Austria

3/23/2005Wien

The Stock Exchange Council of the EEX (European Energy Exchange), the public legal supervisory body of the Leipzig Energy Exchange, held its first meeting of the year in Vienna. As the Chairman of the Stock Exchange Council, Dr. Jaques Piasko, CTO of the Swiss electricity enterprise EGL observed, today's meeting in Vienna confirms the international position of the Leipzig Energy Exchange.

More than half of the 123 companies participating in this exchange have their headquarters in Germany. Electricity traders, energy suppliers such as public services, industrial end customers and banks from 16 countries trade the products offered by the EEX under the strict supervisory authority of the Exchange.

With the product range in the spot and futures market expanded by options and physical futures, the trade in CO2 emission rights and clearing services for off-exchange business (OTC market) is building its foundation on the previous path to the highest volume energy exchange in continental Europe, according to Dr. Hans-Bernd Menzel, Chairman of the Board of the European Energy Exchange AG (EEX).

With the start of the trade zone in Austria, the EEX has made another step towards internationalization. From now on, companies with headquarters in Austria can also conduct direct physical exchange business at the most liquid energy emporium throughout the Austrian regulatory zone of the Austrian power grid, which means a clear site advantage, commented Dr. G├╝nther Rabensteiner, Spokesman of the Board of VERBUND-Austrian Power Trading AG (APT), a subsidiary of the VERBUND, and a member itself of the EEX Stock Exchange Council.

More trade volume through more enterprises on the buyer and seller side also means more transparency in the pricing of electricity.

The Austrian Energy Regulator Walter Boltz also participated in this Stock Exchange Council meeting of the EEX as a guest in order to discuss pricing transparency and the efficiency of trade surveillance of the EEX in a constructive climate.