Energy Exchange Austria - AbsoluteAstronomy.com

Energy Exchange Austria (EXAA) is Austria

Austria

Austria , officially the Republic of Austria , is a landlocked country of roughly 8.4 million people in Central Europe. It is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the...

's energy exchange market.

EXAA is located in Vienna

Vienna

Vienna is the capital and largest city of the Republic of Austria and one of the nine states of Austria. Vienna is Austria's primary city, with a population of about 1.723 million , and is by far the largest city in Austria, as well as its cultural, economic, and political centre...

. It is owned partly by the Vienna Stock Exchange

Wiener Börse

The Wiener Börse AG is the only stock exchange in Vienna, Austria, and one of the most established exchanges in Eastern- and Southeastern Europe.-History:...

. Since 2005 the EXAA is a partner in the European Union Emission Trading Scheme

European Union Emission Trading Scheme

The European Union Emissions Trading Scheme also known as the European Union Emissions Trading System, was the first large emissions trading scheme in the world. It was launched in 2005 to combat climate change and is a major pillar of EU climate policy...

, which enables actors to trade EU emission allowances (EUA), also referred to as CO₂

Carbon

Carbon is the chemical element with symbol C and atomic number 6. As a member of group 14 on the periodic table, it is nonmetallic and tetravalent—making four electrons available to form covalent chemical bonds...

certificates.

Executive board

Members of the executive board: Mag. Dr. Rudolf Schneider, Dipl. Ing. Jürgen Wahl

Mag. Dr. Rudolf Schneider is a member of the EXAA executive board since 2006 and CISMO Clearing Integrated Services & Market Operations GmbH Senior Project Manager since 2005.

Supervisory board

Dipl. Ing. Hansjörg Tengg is the chairperson of the supervisory board. There are two vice chairpersons, Dr. Heinrich Schaller and Mag. Herbert Seidlmann.

Shareholder structure

The most important shareholders of EXAA are APCS Power Clearing and Settlement AG, Wiener Börse AG (WBAG), Oesterreichische Kontrollbank AG (OeKB) and smart technologies.

Liberalisation of the electricity market

The Austrian electricity market is liberalised since October 2001. The liberalisation was an important condition for the foundation of an Austrian electricity exchange market.

CO2 emission trading

In June 2005 EXAA started trading CO₂ certificates. The certificates are traded in auctions. Each market participant is able to place a hidden order which can not be seen by the other participants. The orders are collected in a closed order book. The auction takes place on the particular trading day, where they determine the market clearing price (MCP) and the amount allocated to the participants.

Integration into the CISMOgroup

The CISMO Clearing Integrated Services and Market Operations GmbH (CISMO)
supports companies with expertise in the liberalized energy markets. The company has been founded in 2000 and is located in Vienna.

EXAA became a member of the CISMOgroup in 2005.

Spot market for Hungary

Since May 2010 EXAA is operating the Hungarian market area that was formerly operated by the Power Exchange Central Europe (PXE). The members of EXAA are holding a licence for trading in Hungary. EXAA expects a rise in members trading on the Hungarian spot market of more than double.

EXAA is operating in the following foreign markets :

Germany
Czech Repbulic
Poland
Hungary

CEE electricity market

A long-term objective is to connect different energy exchange markets in Central and Eastern Europe

Central and Eastern Europe

Central and Eastern Europe is a term describing former communist states in Europe, after the collapse of the Iron Curtain in 1989/90. In scholarly literature the abbreviations CEE or CEEC are often used for this concept...

(CEE).

There is a cooperation between EXAA, the Hungarian Power Exchange Central Europe (PXE) and the Polish Towarowa Gielda Energii SA (TGE). In December 2009 the Memorandum of Understanding (MoU) was signed by seven ministers (Germany, Poland, Czech Republic, Slovakia, Austria, Hungary and Slovenia) to create the Central Eastern European Forum for Electricity Market Integration (CEE Forum). The CEE Forum supports the aim to implement a CEE power market which is an advancement towards a single energy market for the whole EU. Furthermore they provide coordination among participating ministries and political support. A main objective of the cooperation is to establish a mechanism for price-coupling in Central and Western Europe, the Nordic countries and South Europe.

Trading concept

EXAA trades the products on the spot markets in auctions where the market participants can place hidden orders. They collect the orders in a closed order book. During the auction they determine the market clearing price (MCP) and volumes. After the auction they allocate the volumes to the participants. The concept is called day-ahead trade because the fulfilment of each trade occurs on the following day. The delivery of the electricity, which is traded on a per hour basis, happens one day after the auction.

Oesterreichische Kontrollbank AG (OeKB) is responsible for the financial clearing, risk management and credit assessments. EXAA has put OeKB in charge of the operation of the financial clearing and settlement.

Products on the spot market

There are two types of products on the spot market, the individual trading products and the block products. Trading participants can trade every single hour, which means that there are 24 individual products each day. This gives the market participants the possibility to satisfy their individual needs. Standardized block products include a combination of different single hours. The lowest amount of electricity that can be traded is 0.1 MWh.

External links

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