Developments in CEE – An Interview with David Kučera

An Interview with David Kučera, General Secretary of the Prague Energy Exchange („PXE“) ComTechAdvisory: Tell us a little about PXE – its history and objectives David Kučera: PXE was established as a daughter company of Prague Stock Exchange. The idea came from the largest power market participants who were looking for an independent and transparent venue that would show electricity market prices and that would enable to conclude transparent transactions on the anonymous basis. As we were successful on our local market we wanted to take advantage of our know-how and expand our product offering to other countries. We focused on financially settled long term derivative products. Currently PXE offers derivatives on Czech, Slovak, Hungarian, Romanian and Polish electricity. PXE originally used its own trading system as well as clearing but we gradually started a cooperation with EEX group and implemented ECC clearing and this month also T7 trading system. ComTechAdvisory: How has being part of EEX helped PXE in the last couple of years David Kučera: A year ago, EEX concluded transaction of acquiring 2/3 of PXE shares. Our two companies complement each other perfectly in its geographical coverage. Going forward, PXE will be responsible for clients coming from

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