EEX will not buy Nasdaq's electricity trading business in northern Europe

The European Energy Exchange (EEX) will not take over the US exchange operator Nasdaq's electricity trading activities in countries in northern Europe. Nasdaq said this today in a press release. No details are known, and EEX did not mention them in its announcement either. The German exchange operator was also to take over clearing, meaning activities related to the settlement of transactions.

EEX is based in Leipzig and is one of the key organisers of electricity trading in Europe. Household prices are also linked to prices on this exchange. EEX said it would continue to pursue its own trading strategy in the region independently. Nasdaq said it would continue energy trading and clearing in the Nordic countries.

The deal, announced by the companies last year, faced the prospect of an in-depth investigation by the European Union's antitrust regulators, Reuters reported earlier this month. In May, the European Commission (EC), which also acts as the EU's antitrust authority, asked competitors and customers whether the agreement could allow the EEX energy exchange to bundle its products, thereby strengthening its market power and making it easier to raise prices.

Last year, EEX and Nasdaq said the deal posed no significant threat to competition in Denmark, Finland, Sweden, Norway or any other EU country. They also argued that their agreement would not rule out competition between the two companies.