UK Power Exchange launches online futures market

NEWS UK Power Exchange (UKPX) today announced it will launch its online electricity futures market on 26 May. UKPX - owned by Swedish group OM, which runs exchanges in Australia, Europe and the US - claims it will let electricity buyers and sellers buy in a far more flexible manner than currently possible. From May, trading will be available in anything from seasons to days. Spot trading will be available when the wholesale trading arrangements begin in October. The exchange will be open to energy retailers, financial organisations, generators, industrial companies, municipalities and utility companies. UKPX also announced it will install its network in 20 electricity companies, representing 80 per cent of the generator capacity and 65 per cent of the supply business.