Christian: Did the events have direct consequences for us?
Johannes: It quickly became clear that this was a special situation. We evaluated our options and assessed the risks. We weren't directly nervous - but it was very unusual, we haven't had experienced such problems at EPEX either.
Christian: But we remained capable of action at all times?
Johannes: We acted to the best of our ability given the chaos and the lack of information at EPEX’s side. The conditions were far from transparent, but all with all our traders dealt well with the situation. These events were also an opportunity to learn: we are now even better prepared to deal with such algorithm failures in the future.
Beyond any discussion about renewable and fossil energy sources, the electricity market offers both positive and negative prices. We as market players have to react to this and we have done so - even if the conditions on early Friday afternoon were of course anything but transparent.
Christian: Will the events of June 7 have any consequences for EPEX?
Johannes: That is to be assumed, after all many market participants lost money and the situation was anything but pleasant. The question why all security mechanisms and redundancies have failed is a central one and must be answered. It will certainly remain interesting to keep an eye on these developments.
Christian: That's exactly what we do. Thank you for the interview!
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Next Kraftwerke is a leading European power trader and provides access to day-ahead and intraday markets as well as long-term and OTC trading on various power exchanges in Europe. In addition to our trading services, which also include brp and portfolio management, we offer a trading platform for an easy and cost-effective market access.