The board has approved the plan of an equal merger uniting the German and French spot electricity markets into a single company based in Paris, open to other European exchanges.
The exchange’s board also approved the principle of merging the respective German and French futures markets by 2009, into the EEX derivatives market subsidiary based in Leipzig.
Powernext said that it will be a significant shareholder of this new entity and the French futures will be governed through specific arrangements. The merger plan is pending on the EEX supervisory board’s decision.
