POWERNEXT FUTURES™ STATISTICS
Total market volume (lots)
Total market volume (MWh)
Daily average (MWh)
Daily average (lots)
Number of members
Open interest (MWh)
Delivery (MWh) October-04 1 091 3 169 710 150 939 52 13 3 390 788 113 175 November-04 1 350 3 403 755 154 716 61 13 3 591 428 109 608 December-04 1 061 1 763 624 80 165 48 13 3 731 385 154 200
Year Contracts
December-04
Lots MWh High traded Low traded Settlement
price (end of month)
Settlement price (end of prev.
month)
Variation
Base
2005 50 438 000 33,20 32,95 33,24 33,25 0%
2006 15 131 400 34,35 33,70 34,16 33,73 1%
Peak
2005 10 31 200 46,00 45,35 45,48 45,84 -1%
2006 - - - - 47,68 47,50 0%
Quarter Contracts
December-04
Lots MWh High traded Low traded Settlement
price (end of month)
Settlement price (end of prev.
month)
Variation
Base
Q1 186 401 574 35,00 34,20 34,18 34,68 -1%
Q2 50 109 200 31,30 31,30 31,60 31,46 0%
Q3 50 110 400 31,80 31,60 32,00 31,64 1%
Q4 75 165 675 35,35 34,85 35,18 35,22 0%
Peak
Q1 25 19 200 46,10 46,10 45,48 46,61 -2%
Q2 25 19 500 43,55 43,55 43,50 43,85 -1%
Q3 - - - - 44,94 45,10 0%
Q4 - - - - 48,00 47,80 0%
Month Contracts
December-04
Lots MWh High traded Low traded Settlement
price (end of month)
Settlement price (end of prev.
month)
Variation
Base
01/2005 325 241 800 35,40 34,25 34,24 35,20 -3%
02/2005 50 33 600 35,45 35,15 34,50 35,40 -3%
03/2005 25 18 575 34,00 34,00 33,80 - Peak
01/2005 50 12 600 47,50 47,35 45,69 47,35 -4%
02/2005 100 24 000 47,50 46,90 45,95 47,15 -3%
03/2005 25 6 900 44,90 44,90 44,80 -
© Powernext SA
December 31, 2004
Baseload contracts overview
© Powernext SA
Daily volume in lots
0 50 100 150 200 250 300 350 400 450
18/06/04 24/06/04
30/06/04 06/07/04
12/07/04 18/07/04
24/07/04 30/07/04
05/08/04 11/08/04
17/08/04 23/08/04
29/08/04 04/09/04
10/09/04 16/09/04
22/09/04 28/09/04
04/10/04 10/10/04
16/10/04 22/10/04
28/10/04 03/11/04
09/11/04 15/11/04
21/11/04 27/11/04
03/12/04 09/12/04
15/12/04 21/12/04
27/12/04 Calendar contracts Quarterly contracts Monthly contracts
Daily settlement price of the up-coming delivery period in €/MWh
26 27 28 29 30 31 32 33 34 35 36 37 38
18/06/2004 24/06/2004
30/06/2004 06/07/2004
12/07/2004 18/07/2004
24/07/2004 30/07/2004
05/08/2004 11/08/2004
17/08/2004 23/08/2004
29/08/2004 04/09/2004
10/09/2004 16/09/2004
22/09/2004 28/09/2004
04/10/2004 10/10/2004
16/10/2004 22/10/2004
28/10/2004 03/11/2004
09/11/2004 15/11/2004
21/11/2004 27/11/2004
03/12/2004 09/12/2004
15/12/2004 21/12/2004
27/12/2004 Front-Month Front-Quarter Front-Year
Open Interest by Delivery Year in MWh
0 500000 1000000 1500000 2000000 2500000 3000000 3500000 4000000
18/06/04 23/06/04
28/06/04 03/07/04
08/07/04 13/07/04
18/07/04 23/07/04
28/07/04 02/08/04
07/08/04 12/08/04
17/08/04 22/08/04
27/08/04 01/09/04
06/09/04 11/09/04
16/09/04 21/09/04
26/09/04 01/10/04
06/10/04 11/10/04
16/10/04 21/10/04
26/10/04 31/10/04
05/11/04 10/11/04
15/11/04 20/11/04
25/11/04 30/11/04
05/12/04 10/12/04
15/12/04 20/12/04
25/12/04 30/12/04 2004 2005 2006
Peakload contracts overview
© Powernext SA
Daily volume in lots
0 10 20 30 40 50 60 70 80 90 100
18/06/04 24/06/04
30/06/04 06/07/04
12/07/04 18/07/04
24/07/04 30/07/04
05/08/04 11/08/04
17/08/04 23/08/04
29/08/04 04/09/04
10/09/04 16/09/04
22/09/04 28/09/04
04/10/04 10/10/04
16/10/04 22/10/04
28/10/04 03/11/04
09/11/04 15/11/04
21/11/04 27/11/04
03/12/04 09/12/04
15/12/04 21/12/04
27/12/04 Monthly contracts Quarterly contracts Calendar contracts
Price spreads (in €/MWh) EEX - Powernext Futures
-0,2 0,0 0,2 0,4 0,6 0,8 1,0 1,2 1,4 1,6
18/06/04 24/06/04
30/06/04 06/07/04
12/07/04 18/07/04
24/07/04 30/07/04
05/08/04 11/08/04
17/08/04 23/08/04
29/08/04 04/09/04
10/09/04 16/09/04
22/09/04 28/09/04
04/10/04 10/10/04
16/10/04 22/10/04
28/10/04 03/11/04
09/11/04 15/11/04
21/11/04 27/11/04
03/12/04 09/12/04
15/12/04 21/12/04
27/12/04 EEX-Powernext Front-Month EEX-Powernext Front Quarter EEX-Powernext Front Year
Open Interest by Delivery Year in MWh
-80000 20000 120000 220000 320000 420000 520000
18/06/04 24/06/04
30/06/04 06/07/04
12/07/04 18/07/04
24/07/04 30/07/04
05/08/04 11/08/04
17/08/04 23/08/04
29/08/04 04/09/04
10/09/04 16/09/04
22/09/04 28/09/04
04/10/04 10/10/04
16/10/04 22/10/04
28/10/04 03/11/04
09/11/04 15/11/04
21/11/04 27/11/04
03/12/04 09/12/04
15/12/04 21/12/04
27/12/04 2004 2005 2006
© Powernext SA
Daily settlement prices
38 40 42 44 46 48 50 52
18/06/20 04 24/06/20
04 30/06/20
04 06/07/20
04 12/07/20
04 18/07/20
04 24/07/20
04 30/07/20
04 05/08/20
04 11/08/20
04 17/08/20
04 23/08/20
04 29/08/20
04 04/09/20
04 10/09/20
04 16/09/20
04 22/09/20
04 28/09/20
04 04/10/20
04 10/10/20
04 16/10/20
04 22/10/20
04 28/10/20
04 03/11/20
04 09/11/20
04 15/11/20
04 21/11/20
04 27/11/20
04 03/12/20
04 09/12/20
04 15/12/20
04 21/12/20
04 27/12/20
04
€/MWh
Front-Month Front-Quarter Front-Year
Price spreads (in €/MWh) EEX-Powernext Futures
-0,5 0,0 0,5 1,0 1,5 2,0 2,5
18/06/2004 24/06/2004
30/06/2004 06/07/2004
12/07/2004 18/07/2004
24/07/2004 30/07/2004
05/08/2004 11/08/2004
17/08/2004 23/08/2004
29/08/2004 04/09/2004
10/09/2004 16/09/2004
22/09/2004 28/09/2004
04/10/2004 10/10/2004
16/10/2004 22/10/2004
28/10/2004 03/11/2004
09/11/2004 15/11/2004
21/11/2004 27/11/2004
03/12/2004 09/12/2004
15/12/2004 21/12/2004
27/12/2004 EEX-Powernext Front Month EEX-Powernext Front Quarter EEX-Powernext Front Year
Market Liquidity
01/2005 Baseload Contract
Q1/2005 Baseload Contract
Cal 2005 Baseload Contract
© Powernext SA
Availability of a bid-ask spread (in % of the daily trading session total duration)
40%
50%
60%
70%
80%
90%
100%
01/12/2004 03/12/2004 07/12/2004 09/12/2004 13/12/2004 15/12/2004 17/12/2004 21/12/2004 23/12/2004 28/12/2004 30/12/2004
Average bid-ask spread
0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8 0,9
01/12/2004 02/12/2004 03/12/2004 06/12/2004 07/12/2004 08/12/2004 09/12/2004 10/12/2004 13/12/2004 14/12/2004 15/12/2004 16/12/2004 17/12/2004 20/12/2004 21/12/2004 22/12/2004 23/12/2004 27/12/2004 28/12/2004 29/12/2004 30/12/2004
€/MWh
0 5 10 15 20 25 30
Lots
Average volume on the spread Average bid-ask spread
Average bid-ask spread
0 0,1 0,2 0,3 0,4 0,5 0,6
01/12/2004 03/12/2004 07/12/2004 09/12/2004 13/12/2004 15/12/2004 17/12/2004 21/12/2004 23/12/2004 28/12/2004 30/12/2004
€/MWh
0 5 10 15 20 25
Lots
Average volume on the spread Average bid-ask spread
Availability of a bid-ask spread (in % of the daily trading session total duration)
40%
50%
60%
70%
80%
90%
100%
01/12/2004 03/12/2004 07/12/2004 09/12/2004 13/12/2004 15/12/2004 17/12/2004 21/12/2004 23/12/2004 28/12/2004 30/12/2004
Average bid-ask spread
0 0,05 0,1 0,15 0,2 0,25
01/12/2004 03/12/2004 07/12/2004 09/12/2004 13/12/2004 15/12/2004 17/12/2004 21/12/2004 23/12/2004 28/12/2004 30/12/2004
€/MWh
0 5 10 15 20 25
Lots
Average volume on the spread Average bid-ask spread
Availability of a bid-ask spread (in % of the daily trading session total duration)
40%
50%
60%
70%
80%
90%
100%
01/12/2004 03/12/2004 07/12/2004 09/12/2004 13/12/2004 15/12/2004 17/12/2004 21/12/2004 23/12/2004 28/12/2004 30/12/2004
01/2005 Peakload Contract
Q1/2005 Peakload Contract
Cal 2005 Peakload Contract
© Powernext SA
Average bid-ask spread
0 0,2 0,4 0,6 0,8 1 1,2 1,4
01/12/2004 02/12/2004 03/12/2004 06/12/2004 07/12/2004 08/12/2004 09/12/2004 10/12/2004 13/12/2004 14/12/2004 15/12/2004 16/12/2004 17/12/2004 20/12/2004 21/12/2004 22/12/2004 23/12/2004 27/12/2004 28/12/2004 29/12/2004 30/12/2004
€/MWh
0 5 10 15 20 25
Lots
Average volume on the spread Average bid-ask spread
Availability of a bid-ask spread (in % of the daily trading session total duration)
40%
50%
60%
70%
80%
90%
100%
01/12/2004 03/12/2004 07/12/2004 09/12/2004 13/12/2004 15/12/2004 17/12/2004 21/12/2004 23/12/2004 28/12/2004 30/12/2004
Average bid-ask spread
0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8 0,9
01/12/2004 03/12/2004 07/12/2004 09/12/2004 13/12/2004 15/12/2004 17/12/2004 21/12/2004 23/12/2004 28/12/2004 30/12/2004
€/MWh
0 5 10 15 20 25
Lots
Average volume on the spread Average bid-ask spread
Availability of a bid-ask spread (in % of the daily trading session total duration)
40%
50%
60%
70%
80%
90%
100%
01/12/2004 03/12/2004 07/12/2004 09/12/2004 13/12/2004 15/12/2004 17/12/2004 21/12/2004 23/12/2004 28/12/2004 30/12/2004
Average bid-ask spread
0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8
01/12/2004 03/12/2004 07/12/2004 09/12/2004 13/12/2004 15/12/2004 17/12/2004 21/12/2004 23/12/2004 28/12/2004 30/12/2004
€/MWh
0 5 10 15 20 25
Lots
Average volume on the spread Average bid-ask spread
Availability of a bid-ask spread (in % of the daily trading session total duration)
40%
50%
60%
70%
80%
90%
100%
01/12/2004 03/12/2004 07/12/2004 09/12/2004 13/12/2004 15/12/2004 17/12/2004 21/12/2004 23/12/2004 28/12/2004 30/12/2004
CONTACTS
Powernext S.A. Marketing Marketing and Sales
25, rue Louis Le Grand Audrey MAHUET : 33 (0) 1 73 03 96 05 Thierry CAROL : 33 (0) 1 73 03 96 04
75002 PARIS a.mahuet@powernext.fr t.carol@powernext.fr
tél. +33 (0)1 73 03 96 00 Sovann KHOU : 33 (0) 1 73 03 96 07 Richard KATZ : 33 (0) 1 73 03 96 02
fax +33 (0)1 73 03 96 01 s.khou@powernext.fr r.katz@powernext.fr
information@powernext.fr Philippe CHAUVANCY : 33 (0) 1 73 03 96 03
p.chauvancy@powernext.fr
© Powernext SA
