The Prague Energy Exchange (PXE) plans to commence operations of spot electricity market trading on January 31, 2008. Although, the exchange launched the Czech Republic's first power exchange in July 2006; however, it started with futures contracts and not physical trading of electricity.
Transactions in the spot market will be made in euros per megawatt hour in line with PXE's existing and new products. For new type of products for the futures market, the Czech Base Load Day and Czech Peak Load Day will be introduced on the day of the start of the spot electricity market trading. As in the case of other derivative products, these will be subject to physical settlement.
To help boost liquidity in the electricity market, CEZ acts as a market maker on PXE, along with E.ON Sales & Trading, a subsidiary of German utility group E.ON. Meanwhile, the OTE (Operátor trhu s elektřinou), acting as the market operator, will manage intraday power trading.
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