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Traded volumes on the APX energy exchange hit an all-time high as the winter trading season began last month.
For October APX posted a record high for its UK power market volumes at 2.76 TWh, following significant growth in volumes across the daily auction it operates jointly with rival exchange N2EX as well as its ‘continuous trading’ market.
For its daily auction the exchange saw a year-on-year volume increase of 80 per cent to 1.31 TWh while the volumes on the exchange’s more mature continuous market reached a total of 1.45 TWh, up by 26 per cent year-on-year.
Unlike continental markets, which have a single exchange for daily power auctions, UK traders can choose between trading on the APX or N2EX exchanges. While N2EX has typically dominated auction volumes and APX has held the lion’s share of continuous market trade, the latter has seen auction volumes steadily increase since the two exchanges aligned.
In addition, APX has increased its UK power membership with the addition Italian power company Enel and Nordic energy company Neas. The new additions bring the number of APX members in the UK market to 68, the exchange said.
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