APX-ENDEX, the Anglo-Dutch energy exchange, experienced a year with sinking energy prices and growing volumes on the exchange.

Energy prices went down on all the markets of the exchange. In the Netherlands, the APX spot electricity index average decreased 44%: the average base-load price throughout 2009 was €39/MWh while in 2008 the average price was €70/MWh. On the futures market, a decrease of 26% was seen on the last settlement price of the front year contract of Dutch Power with a price of €44.40/MWh in 2009 compared to the last settlement price of the front year contract in 2008 of €60.14/MWh. The Belgian power futures saw the last settlement price of the front calendar contract decreasing from €61.60/MWh in 2008 to €45.04/MWh in 2009.

Likewise, in the United Kingdom the UK electricity spot prices on APX-ENDEX decreased. The average monthly APX Power UK Reference Price Data (RPD) Spot Base Index was £36.92/MWh in 2009, down by 46% from 2008 index of £68.91/MWh. Gas UK OCM had an average monthly index of 30.01p/therm in 2009, down from 56.30p/therm in 2008.

The continental gas markets showed similar price movements: prices on the Dutch spot gas market TTF decreased 51% as the average TTF spot price was €12.15/MWh in 2009, down from €24.9/MWh in 2008. TTF Gas futures prices saw a decrease as well when the end-of-year price for the front calendar contract of €13.45/MWh in 2009 went down by 33% from the last settlement price of the front calendar contract in 2008 of €20.05/MWh.

Despite the lower demand for energy and the economic turmoil, the volumes of all the markets on the exchange went up on average by 26% in 2009 compared to 2008, reaching a total volume of 412 TWh. Dutch spot electricity experienced an increase of 17% and while the Dutch power derivatives volumes went slightly down, now totalling 111.07 TWh. The Belgian power futures recorded a volume of 9.04 TWh, with an increase of nearly 200% from 2008. The UK spot power exchange volumes remained steady from the previous year while the gas volumes experienced a rapid growth of 36%, reaching an all time high with 148.35 TWh. The continental gas markets experienced a successful year in 2009 as the volumes grew rapidly across the TTF Gas markets: Gas futures went up 86% in 2009, reaching an old time high with a volume of 89.46 TWh. Gas NL spot volumes went up from 673 GWh to 1.76 TWh, up by over 160%.

-ENDS