# EEX markets to remain open as power prices soar – statement Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-08-30 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: European Energy Exchange Remains Steady Amid Power Price Meta Description: Discover how the European Energy Exchange continues to operate transparently despite significant power price fluctuations. Learn more here. URL: https://financedigest.com/eex-markets-to-remain-open-as-power-prices-soar-statementhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-08-29t145920z1lynxmpei7s0l7rtroptp4eex-germany-exchange-1736815339606-compressed.jpg) FRANKFURT (Reuters) – The European Energy Exchange said on Monday the bourse would remain open in its transparent price-setting role following significant power price volatility since the end of last week. Concerns that Russia will further curb gas flows to Europe, technical and weather-related issues at French nuclear plants, as well as drought hitting coal deliveries have played havoc with European wholesale power.\[EL/DE\]\[NG/EU\] German baseload, a benchmark contract for European electricity futures for annual delivery in 2023, on the exchange was 20.8% down from an intraday high of 1,050 euros a megawatt hour (MWh) at 775 euros/MWh at 1420 GMT. That high was 6.6% above Friday’s already exorbitant close while the latest price is 11 times what it was a year ago and is mirrored in the equivalent contract in the [wider OTC market](https://www.financedigest.com/hsbc-appoints-new-markets-head-amid-wider-investment-bank-reshuffle.html "HSBC appoints new markets head amid wider investment bank reshuffle"). EEX said in a [note that it kept constantly checking the current market](https://www.financedigest.com/the-chelated-iron-agricultural-micronutrient-market-to-escalate-on-a-holistic-note.html "The Chelated-Iron Agricultural Micronutrient Market To Escalate On A Holistic Note") situation. Its council that [represents market](https://www.financedigest.com/ab-property-marketing-appointed-to-represent-spanish-real-estate-law-specialists-fuster-associates.html "AB Property Marketing appointed to represent Spanish Real Estate Law specialists Fuster& Associates") participants met on Monday and decided against a trading halt. Stopping [exchange trading would lead to a shift in trading, but it would not change the price](https://www.financedigest.com/explainer-oil-price-surge-changes-ecb-narrative-only-at-the-margins.html "Explainer-Oil price surge changes ECB narrative only at the margins") development and would even cause more uncertainty overall,” said Chief Operating Officer Steffen Koehler. The EEX, part of Deutsche Boerse, stressed that clearing and settlement of exchange transactions [remained ensured and that all margin claims of the clearing house have been serviced](https://www.financedigest.com/survey-finds-regulation-remains-top-financial-services-priority-for-2017.html "Survey finds Regulation Remains Top Financial Services Priority for 2017") by the clearing members. However, it warned that high liquidity requirements [resulting from sky-high prices](https://www.financedigest.com/immediate-lift-of-oxford-property-prices-to-result-from-new-direct-high-speed-rail-connection-with-london.html "“Immediate lift” of Oxford property prices to result from new direct high speed rail connection with London"), could lead to a reluctance on the side of sellers. [Operators must place trade margins](https://www.financedigest.com/ubisoft-vows-to-get-back-to-operating-margin-above-20-in-medium-term.html "Ubisoft vows to get back to operating margin above 20% in medium term") with the EEX clearing house, ECC. Therefore, it was important that companies receive support in financing their collateral from Germany as well as other member [states of the European Union](https://www.financedigest.com/ukraines-first-lady-to-be-guest-of-honor-at-eu-state-of-union.html "Ukraine’s first lady to be guest of honor at EU State of Union"), the EEX said. The EEX offered a link to a [recent Q+A document on a potential futures market](https://www.financedigest.com/spains-santander-reaffirms-targets-in-face-of-recent-market-turmoil.html "Spain’s Santander reaffirms targets in face of recent market turmoil") suspension. https://www.eex.com/fileadmin/EEX/Downloads/FAQ\_Downloads/20220817\_FAQ\_EEX\_market\_suspension.pdf (Reporting by Vera Eckert, editing by Tomasz Janowski) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---