Nasdaq to transfer European power business to EEX bourse

The European Energy Exchange (EEX) has agreed to acquire Nasdaq’s European power trading and clearing business. The transfer includes open positions in power and carbon futures across France, Germany and the Nordic region. The deal, expected to be finalised in H1 2024, will not include Nasdaq’s European markets services. EEX is seeking to change the structure of the Nordic market, which consists of 12 bidding zones, with the replacement of Electricity Price Area Differential (EPAD) contracts with zonal futures. However, the move could lead to challenges for small, Nordic customers.