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ICE launches Brazilian marketplace for electric power

IntercontinentalExchange (ICE) has launched a Brazilian marketplace for electric power known as BRIX.

The operator said that BRIX was launched with participation from 30 market players and around 40,305MWh power contracts were traded on the first two days of its operation.

The electronically traded marketplace will offer transparency including a range of risk management tools for eligible power market participants, said ICE.

ICE president Chuck Vice said that the launch marked the first step in increasing transparency pricing in Brazil’s power market.