EEX power futures and gas trading fell in Q1

European Energy Exchange AG

21/04/2021 10:00

FRANKFURT, April 21 (Reuters) - EEX's flagship power futures
and gas products saw a year-on-year drop in trading in
January-March due to the impact of the pandemic, although most
environmental, feight and other power products saw growth, the
European energy exchange said.
    "In the European power derivatives markets (-18%) and in the
gas markets (-8%), we are currently below the previous year's
volume – due to the fact that we are measuring ourselves against
a very strong first quarter of 2020," the Deutsche Boerse
 DB1Gn.DE  subsidiary said in remarks prepared for Reuters.
    The onset of the COVID-19 pandemic in the first quarter of
2020 led to high volumes in power futures and gas trading as
companies scrambled to adjust positions, a performance that was
not repeated this year.  urn:newsml:reuters.com:*:nL8N2MC3S9
    But freight markets turnover leapt up by 67%, U.S. power
futures by 10%, spot power by 1%, and European environmental
markets by 26% in the three months.
    As continental Europe's biggest power futures exchange, and
after successful forays into North America and Asia, the bourse
can draw on scale and synergies between products and time zones,
its newly released annual report said.
    Looking ahead in 2021, EEX said it planned to build
liquidity further in Japanese power futures and extend calendar
year power futures with additional expiries to facilitate
hedging of so-called power purchase agreements (PPAs) up to
2030.
    Among a raft of new initiatives, it will also introduce
handysize ship contracts in its freight segment.
 urn:newsml:reuters.com:*:nL8N2JU3BB urn:newsml:reuters.com:*:nL8N2LN5ZB  urn:newsml:reuters.com:*:nL8N2KV6LR  urn:newsml:reuters.com:*:nL8N2KV6LR
    It will also conduct a market consultation on possible
hydrogen products, where it has gathered a working group of more
than 50 organisations.
    EEX platforms serve more than 750 participants.
    Sales revenue in 2020 increased 5% to an all-time high of
320.1 million euros ($384.9 million), while earnings before tax
grew by 3% to a record 101.1 million euros.
    ($1 = 0.8317 euros)

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