Sweden in September pledged financial guarantees of around 250 billion SEK (23 billion euros) to support companies struggling with soaring energy prices amid Europe’s energy crisis triggered by Russia’s invasion of Ukraine.
But unlike Nasdaq, which is based in Stockholm, EEX and its subsidiary Epex Spot will not be covered by the system.
“If a support mechanism is implemented […] The entire market and members of all clearinghouses should benefit equally from it or at least have an equal chance to benefit from it, says Schubotz.
The exchange has asked the Energy Markets Inspectorate to review the matter.
In the letter, which Montel has seen, EEX urges the Swedish government to reconsider the decision.
“We have received positive feedback that we are very pleased with. The Swedish supervisory authority welcomed hearing our views and we maintain a positive contact on this subject, says Schubotz.
Alejandro Eguez of the regulator said it was important to maintain fair competition between all players.
“Based on this overarching principle, we partly share the stock exchange’s view and we are reviewing their feedback,” he added.
(1 EUR = 10.84 SEK)