European Energy Exchange (EEX) signed a cooperation agreement with Croatian Energy Exchange CROPEX to introduce Power Derivatives for the Croatian market. The start of trading for these products is planned for the first quarter in 2023.
For the start of the Croatian Power Futures on EEX, it is intended to begin with the setup of the basic long-term Future curve (comprising Week, Month, Quarter and Year Futures) with a base and peak profile and to successively expand the product range with increasing market interest.
This stepwise approach has proven to be a successful strategy for the joint development of new markets.
CROPEX CEO Silvio Brkic said that, after successful recent completion of full integration of spot markets at Croatian EU borders into the internal EU market, CROPEX is looking forward to implement cooperation with EEX to offer financial instruments derived from CROPEX day-ahead price for all EU market participants. Establishing reliable long-term reference prices for the Croatian power market will certainly contribute to the further development and robustness of the EU market overall.
