London, 5 April 2011

Energy exchange APX-ENDEX today announces the March volumes of its power and gas exchanges. The total volume of the exchange reached another all time high with 59.15 TWh traded and cleared in March.

The futures markets recorded 43.68 TWh while the spot markets saw a total of 15.47 TWh traded.

Power

A total volume of 10.42 TWh was registered on the APX-ENDEX power markets.

The continental power futures markets recorded a total volume of 4.77 TWh during March.

Power NL futures reported a volume of 3.18 TWh, of which 1.87 TWh was traded on the exchange and 1.31 TWh was registered for clearing via the OTC clearing service.

Power BE futures registered a total of 1.59 TWh.

A total of 221 trades were registered on the power futures markets.

The APX-ENDEX power spot and prompt markets saw another month of increasing volumes with a total of 5.65 TWh traded across the markets, up by 20% year-on-year.

Power NL recorded a total of 3.28 TWh, of which the Day-Ahead auction saw 3.26 TWh traded while the Intraday market experienced an all time high with 21.81 GWh. The Power NL Day-Ahead auction saw a record volume on 14 March, when a total of 130,219 MWh was traded for the delivery on 15 March.

The total volume of the Belgian Power spot market of Belpex experienced 27% growth year-on-year with a monthly volume of 1.17 TWh, of which 1.14 TWh was traded on the Day-Ahead market and a record high 34.74 GWh on the Intraday market.

The Power UK spot and prompt market recorded a total volume of 1.2 TWh, an increase of 17% year-on-year, with 907 GWh traded on the spot market, 262 GWh on the prompt market and 21.2 GWh was registered for clearing via the APX-ENDEX OTC Broker Give-up service in March. The launch of the BritNed cable resulted the Power UK Day-Ahead auction to record 8,138 MWh traded on 31 March.

A total of 128,047 trades were registered on the power spot markets during March.

During March, the entire CWE region had full price convergence for approximately 72% of the time. The Netherlands market was connected at least 93% of the time with one neighbouring country (Germany or Belgium) and the Belgian market was converging with a neighbouring market (Netherlands or France) area at least 97% of the time.

Gas

A total of 48.73 TWh was registered on APX-ENDEX futures and spot gas markets during the month of March.

The APX-ENDEX TTF Gas futures market continued reaching record high volumes with an increase of 265% year-on-year and with a total volume of 38.91 TWh. Exchange traded volumes recorded 20.55 TWh while the record high 18.36 TWh was registered for clearing via the OTC clearing service. The monthly volumes in 2011 have seen continuous growth and the previous total volume record was reached in February 2011 when the total volume recorded 35.18 TWh.

A total of 432 trades were registered on the gas futures market.

The total volume traded on the APX-ENDEX Gas spot markets reached 9.82 TWh in March.

Gas UK spot saw a total of 9.20 TWh traded, of which 9.18 TWh (313 million therms) was traded on the APX-ENDEX OCM market while the Gas Capacity market saw 22 GWh traded. The Gas NL (TTF) spot market saw this year’s highest volume with a total volume of 573 GWh (by transaction day) while 50 GWh was traded on the Zeebrugge gas market.

A total of 5,864 trades were registered on the gas spot markets in March.

Implicit auction starts on the BritNed cable

BritNed, the new 1000 MW interconnector providing a link between Great Britain and the Netherlands, was launched on 1 April 2011. BritNed links the GB electricity market with the liquid and integrated Central West European and Nordic electricity markets, which together with Great Britain create one of the biggest integrated markets in the world.

APX-ENDEX provides a market coupling solution linking the day-ahead markets on each side of the cable and the first auction took place on Thursday 31 March for the delivery on 1 April 2011 with 15 members participating in the GB market. Full utilisation of transport capacity occurred during 5 hours and the direction of flows switched twice. All 24 hours saw matched orders and true market prices on the GB market.

The baseload volume on the UK auction on the first day of BritNed operations recorded 8,138 MWh with an average price of £50.93/MWh which was in line with OTC prices. A minimum of 500 MW of BritNed capacity is reserved for implicit auction during April.

APX-ENDEX introduces new TTF spot products

APX-ENDEX adds new products to its current range with additions of Continuous Hourly Market and Standard Block contracts that mirror Peak and Off-Peak power contracts. In addition, the APX-ENDEX Within-Day market will be viewable in the GTS Gasport screen side-by-side with the balancing market for a real time view on trading activity versus physical system balancing.

APX-ENDEX will also facilitate the neutral gas price index for GTS, as prescribed in the gas code. This index will be based on APX-ENDEX TTF Hourly, Block, Day and Weekend trades concluded as of 2 days prior to delivery up to the expiration moment of each individual TTF market segment.

The new products deliver a number of benefits to the trading members, including the enhanced conformity with the APX-ENDEX Power NL market blocks and optimising greater gas portfolio options, where gas is the base fuel for electricity production at peak hours.

Luisteren

New members join the APX-ENDEX spot markets

KI Energy Trading GmbH joined APX-ENDEX Gas NL (TTF) spot market as a new member of the exchange. Belgian Lampiris SA, already a trading member of the APX-ENDEX TTF Gas futures, Power BE futures and Belpex, extended its existing memberships to the Gas NL (TTF) spot market. The Gas NL (TTF) spot market now has 28 members.

Société Générale, already trading on the APX-ENDEX TTF Gas futures market, joined the Gas UK market, bringing the number of Gas UK market memberships to 80.

Spot Indices

In March, the Dutch power index for the Day-Ahead Market, APX NL DAM Index, had a monthly average price of €55.35/MWh. The Dutch gas index, APX Gas NL TTF, had a monthly average price of €23.72/MWh.

APX Power UK’s Spot Base Load Index (derived from APX Power UK’s Reference Price Data (RPD)) had a high of £56.50/MWh on 17 March and a low of £46.71/MWh on 8 March.

The Spot Peak Load Index (also RPD-derived) had a high of £64.28/MWh on 4 March and a low of £48.33/MWh on 28 March.

The SAP index, based on APX Gas UK’s OCM trades, experienced a high at 66.50 p/therm on 16 March and a SAP low of 55.87 p/therm on 1 March.

The SMP Buy had a high of 67.34 p/therm on 16 March and a low of 56.71 p/therm on 1 March. The SMP Sell reached a high of 65.55 p/therm on 16 March and a low of 54.92 p/therm on 1 March.

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