EEX bourse expects more growth this year after strong 2022

European Energy Exchange AG

26/04/2023 12:42

FRANKFURT, April 26 (Reuters) - The European Energy
Exchange (EEX) said on Wednesday it was expecting a strong
performance in 2023 after recording sharp gains in sales
revenues and profits last year, especially in natural gas
trading and in North American commodities.
    Growth prospects this year will benefit from a recovery of
liquidity in most European power and gas contracts in the first
quarter of 2023, EEX, which is part of Deutsche Boerse
 DB1Gn.DE , said in a statement.
    "The first three months of the new year allow for a positive
outlook," said EEX Chief Executive Peter Reitz, citing demand
for energy price volatility hedges.
    Spot power Europe volumes were up 12% year-on-year in the
three months at 162 terawatt hours (TWh), spot gas trading was
up 26% at 888 TWh, and gas futures trading gained 45% at 1,022
TWh, slides accompanying the statement showed.
    European power futures were the outlier as they have been
slow to recover from a decline triggered by operators shying
away from long-term commitments amid the regional energy crisis
caused by the loss of Russian gas exports and war in Ukraine.
    They fell 10% to 1,037 TWh in Jan-March.
    The EEX had more than doubled volumes across its gas markets
last year but saw electricity decline overall because of the
European factors, despite gains in United States and Japanese
futures.
    The exchange, which serves more than 800 participants, said
it benefited from the popularity of its clearing functions in
uncertain geopolitical times.
    Its sales revenue in 2022 increased by 33% to 482.4 million
euros ($533 million), while earnings before interest and taxes
(EBIT) grew by 74% to a record 239.2 million euros.
($1 = 0.9045 euros) 

 (Reporting by Vera Eckert; Editing by Alexander Smith)
 ((vera.eckert@thomsonreuters.com; +49 30 2201 33654;
@EckertVera;))