European Energy Exchange launches subsidiary in Japan

European Energy Exchange AG

30/05/2024 10:00

LONDON, May 30 (Reuters) - The European Energy Exchange
(EEX) said on Thursday it has established a subsidiary in Japan
to strengthen its ties with the local trading community and
authorities.
    EEX launched Japanese power futures trading in 2020, and a
total volume of 54 terawatt hours (TWh) has been traded to date.
    EEX's market share of the Japanese power futures market has
increased to over 96% since July last year, it said.
    EEX has also added new products to the market including
daily power futures and it expects to expand its Japanese power
futures offering in line with demand.
    Japan is the fourth largest power market in the world, with
an annual consumption of around 900 TWh. According to the
Japanese Institute for Sustainable Energy Policies (ISEP), about
30% of the total electricity generated in the country during
2022 came from liquefied natural gas (LNG).

 (Reporting by Nina Chestney
Editing by Bernadette Baum)
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