Tres Amigas and EPEX SPOT announced that they have signed a joint cooperation agreement to enable the respective companies to share mutual expertise in the development and coupling of their respective markets.
EPEX SPOT and its mother companies have demonstrated a successful approach to integrate markets throughout Europe. EPEX SPOT operates the power spot markets for France, Germany, Austria and Switzerland (Day Ahead and Intraday), accounting for more than one third of the European electricity consumption. Their platforms, technology and expertise have been extremely successful. As Tres Amigas goes commercial in 2015 with the physical interconnection, initially between the Eastern Interconnection and the Western Interconnection, the experiences and knowledge of EPEX SPOT in Europe will be extremely valuable in ensuring a successful launch of the Tres Amigas Power Exchange.
EPEX SPOT is pleased to enter into this cooperation agreement with Tres Amigas. The staffs of Tres Amigas and Viridity bring extensive knowledge and expertise in the electricity market development in the US. Both companies look forward to the shared learning and community knowledge that can be of mutual benefit.
“Innovator and first of its kind in the United States, Tres Amigas takes a key role in the integration of power markets in the U.S. We are extremely pleased to contribute to their vision and to share our respective know-how with such high profile partners overseas”, says Jean-François Conil-Lacoste, CEO of EPEX SPOT.
“EPEX SPOT is the world leader in market coupling. Their skill and acumen in working between the various market and non market areas in Europe to identify the best ways to accommodate transactions in various stages of development is unique in the electric markets worldwide, said Phillip Harris, Chair, President and CEO of Tres Amigas. The tool sets they have developed and practical experience they have learned will be an invaluable aid as Tres Amigas develops the power exchange between the eastern, western and ERCOT interconnections. Together with the institutional knowledge of the staff at Tres Amigas, the insights and knowledge of the electric market needs for the environment and requirements for more sophisticated trading platforms across regions will further provide an extremely valuable mechanism to develop the best products in order to meet the electric industry needs of the future.”