EEX gas trading volumes doubled in 2022, but power trading dropped

European Energy Exchange AG

24/01/2023 13:00

FRANKFURT, Jan 24 (Reuters) - European energy exchange
EEX more than doubled volumes across its gas markets last year
as operators hedged purchases amid supply worries, but high
power prices led to a 14% decline in electricity trading, it
said on Tuesday.
    High prices and volatility in gas and power markets were the
result of the drop in Russian gas exports to the West after
Russia's invasion of Ukraine.
    Total gas trading volumes in 2022 amounted to 6,669.5
terawatt hours (TWh), representing a 112% increase on 2021,
Deutsche Boerse's  DB1Gn.DE  EEX said in a statement.
    "The need for hedging instruments was exceptionally high due
to the tight supply situation," said EEX Chief Executive Peter
Reitz.
    Traders in the power segment were faced with the need to
secure extra funds to cover higher margin calls within
requirements for collateral, leading them to exercise
considerable restraint especially in futures, EEX said.
    Power trading volumes on the bourse reached 6,350.3 TWh in
2022, down from 7,405,730.9 TWh the previous year, on account of
losses in Europe. 
    By contrast, United States power futures set a new record
and the Japan futures segment, in its third year, also rose,
though still from a low base.
    EEX Group connects more than 800 trading members.
    Below is a selection of trading volumes, allowing for
rounding errors.
 EEX                2022            2021             Yr-Yr
                                                     change
 European spot           616.4 TWh            629.5  -    2%
 power *                                             
 European Power          3,344 TWh        4,568 TWh  -   27%
 Futures                                             
 Japan Power               6.7 TWh          6.6 TWh  +    2%
 Futures                                             
 U.S. Power              2,383 TWh        2,202 TWh  +    8%
 Futures                                             
 POWER GLOBAL            6,350 TWh        7,406 TWh  -   14%
 TOTAL                                               
 Spot Europe Gas         3,426 TWh        1,847 TWh  +   85%
 European Gas            3,136 TWh        1,186 TWh  +  164%
 Futures                                             
 U.S. Gas Futures        108.0 TWh        108.8 TWh  -    1%
 GAS TOTAL               6,670 TWh      3,142.1 TWh  +  112%
 EU environmental       1.20 bln T       1.66 bln T  -   28%
 products                                            
 U.S.                      280,503          248,944  +   13%
 Environmentals                                      
 (lots)                                              
 EEX Group Freight         795,190        1,009,017  -   21%
 (lots)                                              
 * includes EPEX                                     
 SPOT, SEEPEX &                                      
 PXE joint volumes                                   
                                                     
 (Reporting by Vera Eckert
Editing by David Goodman)
 ((vera.eckert@thomsonreuters.com; +49 30 2201 33654;
@EckertVera;))