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30 September 2004 - In cooperation with the Dutch power exchange APX and the French power exchange Powernext , the Belgian transmission system operator Elia is to set up a Belgian power exchange. The three companies recently concluded a cooperation agreement on the operation.

The power exchange will be incorporated under Belgian law by Elia and will be called Belpex. APX and Powernext intend to take a participation of 10 per cent each in Belpex. APX and Powernext bring their experience and know-how to the Belgian power exchange. The Dutch transmission system operator, TenneT, and the French transmission system operator RTE might also buy 10 per cent each of shares in Belpex. After these transactions, Elia would remain the majority shareholder with a 60 per cent stake in Belpex.

Market players on Belpex will be able to buy and sell electricity for next-day delivery. Power generators will be able to offer excess volume on the exchange while power suppliers will be able to source electricity. The anonymous trading in electricity on the exchange will create a more transparent electricity market in Belgium and an electricity price that more closely reflects economic factors.

The power exchange will enhance the functioning of the liberalised electricity market in Belgium. The Belgian government is therefore supporting the launch of the exchange.

The launching of the Belgian power exchange marks a milestone in the integration of the European power markets. It is the first time that 3 European power exchanges will be linked with a day-ahead market coupling mechanism. The market coupling of Belpex, APX and Powernext is necessary to reach a suitable threshold of liquidity on Belpex.

The coupling allows the joint handling of the supply and purchase bids on the exchanges, independently of the exchange where they have been introduced. This mechanism allows a counterparty of a transaction on Belpex, APX or Powernext to originate from a foreign country.

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