E.ON Welcomes Centrica's Decision To Commit To N2EX

E.ON has welcomed the announcement that Centrica will now commit to placing volumes through the N2EX Day Ahead auction helping it to boost transparency and liquidity in the UK power market.

Commenting on the move, E.ON UK Chief Executive, Dr. Tony Cocker said: "Boosting liquidity and transparency will help to ensure a truly effective power market and can also play a big part in helping us to regain the trust of our customers. Our commitment, which can be measured in years not months, to driving volumes upwards in platforms such as N2EX is something I am truly proud of and I am pleased that Centrica have now said that they will commit 30% of their volume. The commitment from parties such as E.ON and Centrica has driven volumes trading on the N2EX DayAhead Auction from 101 GWhs per day in June 2011 to achieving in in June 2012 in excess of 250 GWhs per day, we remain confident that these volumes are sustainable and will improve further as other parties continue to gain confidence in this market."


(CD/GK)