EEX's power trading volumes up over a third in 2023

European Energy Exchange AG

16/01/2024 13:29

FRANKFURT, Jan 16 (Reuters) - Electricity trading
volumes on Europe's EEX energy exchange rose 36% last year as
prices normalised following spikes in 2022 caused by the war in
Ukraine that discouraged futures trading because of the need to
pay higher security deposits.
    Falling Russian gas exports to the West after Russia's
invasion of Ukraine led to price surges and volatility in 2022, 
but both trends settled back in 2023 once alternative gas
sources were tapped and markets factored in falls in usage.
    EEX, a subsidiary of Deutsche Boerse  DB1Gn.DE , said in a
statement on 2023 that it extended its reach in European,
Japanese and U.S. power products, including by buying smaller
sector peer GET Baltic, which boosted its global turnover.
    Power trading volumes in the year reached 8,660.9 terawatt
hours (TWh), up 36% on 2022, with a 55% increase for the
bourse's flagship European power derivatives.
    Total gas trading volumes in 2023 amounted to 7,293.9 TWh,
up 9% from 2022, when the volume had doubled. 
    The EEX Group connects more than 800 trading members for
energy, freight, environmental and agricultural products.
    It has also introduced a green hydrogen index.
    Below is a selection of trading volumes, allowing for
rounding errors.
 EEX                2023            2022             Yr-Yr
                                                     change
 European spot           724.5 TWh        616.4 TWh  +   18%
 power *                                             
 European Power        5,185.3 TWh        3,344 TWh  +   55%
 Futures                                             
 Japan Power              18,3 TWh         6.7  TWh  +  171%
 Futures                                             
 U.S. Power              2,733 TWh        2,384 TWh  +   15%
 Futures                                             
 POWER GLOBAL            8,661 TWh        6,350 TWh  +   36%
 TOTAL                                               
 Spot Europe Gas         3,191 TWh        3,426 TWh  -    7%
 European Gas            4,015 TWh        3,136 TWh  +   28%
 Futures                                             
 U.S. Gas Futures         87.8 TWh        108.0 TWh  -   19%
 GAS TOTAL               7,294 TWh        6,670 TWh  +    9%
 EU environmental       1.29 bln T       1.20 bln T  +    8%
 products                                            
 U.S.                      344,582          280,503  +   23%
 Environmentals                                      
 (lots)                                              
 EEX Group Freight       1,180,094          795,190  +   48%
 (lots)                                              
 * includes EPEX                                     
 SPOT, SEEPEX &                                      
 PXE joint volumes                                   
                                                     
 
 (Reporting by Vera Eckert
Editing by Mark Potter)
 ((vera.eckert@thomsonreuters.com; +49 30 2201 33654;
@EckertVera;))