EEX bourse sees recovery in European power futures in first half

European Energy Exchange AG

19/07/2023 09:37

FRANKFURT, July 19 (Reuters) - The European Energy
Exchange (EEX) saw trading volumes in its flagship electricity
futures contracts recover in the first half of 2023 amid
significant rises in most product volumes, reflecting
participants' rising preference for exchange marketplaces.
    Trading in European power derivatives in the six months
totalled 2,222 terawatt hours (TWh), a 17% increase over the
same 2022 period, it said. The volume is equivalent to more than
four times Germany's annual electricity consumption.
    European power futures turnover on the EEX had dropped 27%
in 2022 in the energy supply crisis triggered by Russia's
withdrawal of most gas exports to Europe.
    Tight energy supplies led to record prices, which undermined
companies' liquidity and forced buyers to focus predominantly on
the near-term, a trend now being overcome.
    "The past year has shown that exchange-based instruments
play an important role in mastering crises and ensuring security
of supply," said Chief Executive Peter Reitz.
    The exchange, a subsidiary of Deutsche Boerse  DB1Gn.DE ,
had adapted its portfolio accordingly and also launched
initiatives in the emerging market for hydrogen, he said.
    The EEX has benefited from demand for its clearing services
amid tighter financial market regulation, which has driven
over-the-counter (OTC) market operators towards bourse products.
    Following is a selection of trading results in terawatt
hours (TWh) and million tonnes (allowing for rounding errors):
    
 EEX                Jan-June 2023   Jan-June 2022    Yr-Yr
                                                     change
 European spot           347.8 TWh            306.5  +   13%
 power *                                             
 European Power        2,221.6 TWh      1,891.4 TWh  +   17%
 Futures                                             
 Japan Power               8.6 TWh          2.9 TWh  +  194%
 Futures                                             
 U.S. Power            1,541.7 TWh      1,490.6 TWh  +    3%
 Futures                                             
 EEX POWER GLOBAL      4,120.0 TWh      3,691.5 TWh  +   12%
 TOTAL                                               
 Spot Europe Gas       1,619.4 TWh      1,499.2 TWh  +    8%
 European Gas          1,947.3 TWh      1,437.0 TWh  +   36%
 Futures                                             
 U.S. Gas Futures         56.2 TWh         87.1 TWh  -   36%
 GAS TOTAL             3,622.9 TWh      3,023.3 TWh  +   20%
 EU environmental        401 mln T        563 mln T  -   29%
 products                                            
 U.S.                      164,488          136,435  +   21%
 Environmentals                                      
 (lots)                                              
 EEX Group Freight         618,063          369,462  +   67%
 (lots)                                              
 * includes EPEX                                     
 SPOT, SEEPEX &                                      
 PXE joint volumes                                   
                                                     
 
    

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