RECS is pleased to welcome a new member: EPEX Spot.
The European Power Exchange EPEX SPOT SE operates physical short-term electricity markets in 13 countries: in Central Western Europe, the United Kingdom, Switzerland, the Nordics and in Poland, with over 300 members trading on these markets. Furthermore, EPEX SPOT newly offers a local flexibility market solution and a spot auction for Guarantees of Origin (GOs). With these initiatives, EPEX SPOT fosters the market integration of renewable energy sources and aims to enhance the engagement of consumers and producers in the power market.
Since September 2022, EPEX SPOT operates the first pan-European secondary auction for GOs with physical delivery of the traded certificates. After years in the making, getting constant feedback from market participants, the auction’s unique market design provides trading standards to this market, improves transparency, and produces robust price signals. This plays a key role in the acceleration of the energy transition, as GOs are the only way to sustainably prove the origin of electricity. The monthly pay-as-clear auctions maximize market liquidity via different levels of specificities tradable across three dimensions: power production technology, issuing country within the Association of Issuing Bodies (AIB) framework, and subsidy regime – meeting the increasing demand for specific GOs from market players.
EPEX SPOT is thrilled to be now a member of RECS, bringing to the RECS community its unique expertise as an exchange. To build markets for the energy transition is our mission and our cooperation with RECS will bring benefits for the entire energy community.
RECS is excited to have the support from EPEX SPOT, becoming the first power exchange to join the RECS community. We look forward to be working with them in the coming years.