International Petroleum Exchange (IPE) has revealed that it is close to a second attempt at launching power futures contracts. Marc Leppard, IPE's director of regulation and compliance, who is overseeing the development of the new baseload and peakload contracts, told FO Week that their launch is expected in the next quarter.
The exchange had previously said that it was considering the contracts, but had not committed to them. It has attempted to introduce similar products in the past, but suspended its electricity futures in March 2002 after they failed to attract liquidity.
Leppard claimed that...