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) August-04 221 358 595 16 300 10 10 1 346 960 28 920 September-04 515 1 410 723 64 124 23 11 1 675 636 52 800 October-04 1 091 3 169 710 150 939 52 13 3 390 788 113 175
Year Contracts
October-04
Lots MWh High Low Settlement
price (end of month)
Settlement price (end of prev. month)
Variation
Base
2005 86 753 360 34,20 34,0 33,65 34,3 -2%
2006 115 1 007 400 34,3 34 33,98 34,38 -1%
Peak
2005 35 109 200 49 48 47,8 49,47 -3%
2006 30 93 600 50,55 50,3 49,3 50,85 -3%
Quarter Contracts
October-04
Lots MWh High Low Settlement
price (end of month)
Settlement price (end of prev. month)
Variation
Base
Q1 200 431 800 36,95 36,05 35,71 37,28 -4%
Q2 50 109 200 31,9 31,9 31,66 32,06 -1%
Q3 150 331 200 32,4 31,9 31,83 32,16 -1%
Q4 50 110 450 35,5 35,4 35,41 35,70 -1%
Peak
Q1 100 76 800 51 49,4 49,49 52,43 -6%
Q2 25 19 500 46 46 45,48 46,50 -2%
Q3 - - - - 46,48 47,50 -2%
Q4 25 19 500 50,6 50,6 49,75 51,45 -3%
Month Contracts
October-04
Lots MWh High Low Settlement
price (end of month)
Settlement price (end of prev. month)
Variation
Base
11/2004 50 36 000 34,10 33,35 32,52 35,13 -7%
12/2004 - - - - 32,98 35,00 -6%
01/2005 50 37 200 37,95 36,95 36,53 38,30 -5%
Peak
11/2004 - - - - 43,23 48,25 -10%
12/2004 125 34 500 47,1 44 43,93 48,08 -9%
01/2005 - - - - 50,7 54,0 -6%
© Powernext SA
October 31, 2004
Baseload contracts overview
© Powernext SA
Daily volume in lots
0 50 100 150 200 250 300 350 400 450
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 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
18/06/04 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 Front-Month Front-Quarter Front-Year
Open Interest by Delivery Year in MWh
0 500000 1000000 1500000 2000000 2500000 3000000 3500000
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 2004 2005 2006
Peakload contracts overview
© Powernext SA
Daily volume in lots
0 10 20 30 40 50 60 70 80 90 100 110
18/06/04 22/06/04
26/06/04 30/06/04
04/07/04 08/07/04
12/07/04 16/07/04
20/07/04 24/07/04
28/07/04 01/08/04
05/08/04 09/08/04
13/08/04 17/08/04
21/08/04 25/08/04
29/08/04 02/09/04
06/09/04 10/09/04
14/09/04 18/09/04
22/09/04 26/09/04
30/09/04 04/10/04
08/10/04 12/10/04
16/10/04 20/10/04
24/10/04 28/10/04 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 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 EEX-Powernext Front-Month EEX-Powernext Front Quarter EEX-Powernext Front Year
Open Interest by Delivery Year in MWh
0 50000 100000 150000 200000 250000 300000 350000 400000 450000 500000
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 2004 2005 2006
© Powernext SA
Daily settlement prices
38 40 42 44 46 48 50 52
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
€/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
18/06/04 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 EEX-Powernext Front Month EEX-Powernext Front Quarter EEX-Powernext Front Year
Market Liquidity
11/2004 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%
01/10/04 05/10/04 07/10/04 11/10/04 13/10/04 15/10/04 19/10/04 21/10/04 25/10/04 27/10/04 29/10/04
Average bid-ask spread
0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8
01/10/04 05/10/04 07/10/04 11/10/04 13/10/04 15/10/04 19/10/04 21/10/04 25/10/04 27/10/04 29/10/04
€/MWh
0 5 10 15 20 25
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
01/10/04 05/10/04 07/10/04 11/10/04 13/10/04 15/10/04 19/10/04 21/10/04 25/10/04 27/10/04 29/10/04
€/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%
01/10/04 05/10/04 07/10/04 11/10/04 13/10/04 15/10/04 19/10/04 21/10/04 25/10/04 27/10/04 29/10/04
Average bid-ask spread
0 0,05 0,1 0,15 0,2 0,25 0,3
01/10/04 05/10/04 07/10/04 11/10/04 13/10/04 15/10/04 19/10/04 21/10/04 25/10/04 27/10/04 29/10/04
€/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%
01/10/04 05/10/04 07/10/04 11/10/04 13/10/04 15/10/04 19/10/04 21/10/04 25/10/04 27/10/04 29/10/04
11/2004 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 1,6
01/10/04 05/10/04 07/10/04 11/10/04 13/10/04 15/10/04 19/10/04 21/10/04 25/10/04 27/10/04 29/10/04
€/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%
01/10/04 05/10/04 07/10/04 11/10/04 13/10/04 15/10/04 19/10/04 21/10/04 25/10/04 27/10/04 29/10/04
Average bid-ask spread
0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8 0,9 1
01/10/04 05/10/04 07/10/04 11/10/04 13/10/04 15/10/04 19/10/04 21/10/04 25/10/04 27/10/04 29/10/04
€/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%
01/10/04 05/10/04 07/10/04 11/10/04 13/10/04 15/10/04 19/10/04 21/10/04 25/10/04 27/10/04 29/10/04
Average bid-ask spread
0 0,1 0,2 0,3 0,4 0,5 0,6 0,7
01/10/04 05/10/04 07/10/04 11/10/04 13/10/04 15/10/04 19/10/04 21/10/04 25/10/04 27/10/04 29/10/04
€/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%
01/10/04 05/10/04 07/10/04 11/10/04 13/10/04 15/10/04 19/10/04 21/10/04 25/10/04 27/10/04 29/10/04
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 [email protected] [email protected]
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 [email protected] [email protected]
[email protected] Philippe CHAUVANCY : 33 (0) 1 73 03 96 03
