London, 7 April 2011

Energy exchange APX-ENDEX today announces the first week results of the UK Day-Ahead auction after the launch of the BritNed cable and a daily record of 16,086 MWh. The daily record already represents nearly a double of volumes when compared to the successful start of market coupling a week earlier.

BritNed, the 1000 MW interconnector, provides a link between Great Britain and the Netherlands. APX-ENDEX provides a market coupling solution linking the day-ahead markets on each side of the cable by running a daily implicit auction.

The first auction took place on Thursday 31 March and resulted in 8.1 GWh being traded with an average price of £50.93/MWh. Thursday 7 April saw a record high 16.1 GWh traded on the auction.

The average price of the day was £48.84/MWh, with 14 members actively participating in the auction. A significant volume 27,864 MWh has also been traded during the weekend, when APX-ENDEX is the only exchange in the UK offering a Day-Ahead auction. Furthermore, all 24 hours saw matched orders and saw a flow on the BritNed cable. Full utilisation of available transport capacity on the cable occurred during 7 hours while all hours saw flows and the direction switched twice.

Bert den Ouden, CEO of APX-ENDEX says: “The UK is starting to experience the benefits of an integrated European power market. The launch of the BritNed cable has been positively received as a part of larger European market coupling. We have seen strong growth in volumes and stable prices throughout the week and are excited to see that today the volumes are nearly double than a week ago when the auction on BritNed was launched”.

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