SANTA FE, N.M. & PARIS--(BUSINESS WIRE)--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.”
About Tres Amigas, LLC
Tres Amigas, LLC is uniting the nation’s electric grid. Utilizing the latest advances in power grid technology, Tres Amigas is focused on providing the first common interconnection of America’s three power grids to help the country achieve its renewable energy goals and facilitate the smooth, reliable and efficient transfer of green power from region to region. Tres Amigas, LLC is a merchant transmission entity composed of electric utility industry operational, technology and thought leaders.
Based in Santa Fe, NM, Tres Amigas, LLC is a business venture backed by a number of prominent investors and partners, including American Superconductor, AltEnergy, Z-Global Engineering & Energy Solutions, Viridity Energy, London Economics, Steptoe & Johnson, Burns & McDonnell, CH2M Hill, Power Engineers, and Xtreme Power Solutions. More information is available at www.tresamigasllc.com.
About EPEX SPOT
EPEX SPOT SE operates the power spot markets for France, Germany, Austria and Switzerland (Day Ahead and Intraday). Together these countries account for more than one third of the European electricity consumption. EPEX SPOT is a Paris-based company under European law (Societas Europaea) with a branch in Leipzig and currently counts 201 exchange members. 314 TWh have been traded in 2011 on the EPEX SPOT power markets. More information is available at www.epexspot.com.