Leipzig, 16 January 2024 – In 2023, trading volumes across the various markets of EEX Group have seen the return of confidence, with significant expansion on the power derivatives markets.
Despite the continued unpredictability of the world economy and the geopolitical situation, EEX Group addressed customers’ needs by expanding the product portfolio in power, natural gas and freight markets, as well as registry services. Through the acquisition of GET Baltic, EEX now also serves the Baltic-Finnish gas region and facilitates the integration of these markets into the pan-European trading community in order to further improve liquidity. In addition, to emphasise the importance of transparency as key to building successful markets, EEX also introduced a range of new indices for the carbon and hydrogen sectors last year.
In terms of volumes, throughout 2023 EEX Group has seen the return of remarkable growth in its core business segment, power derivatives, in addition to numerous record trading levels set across a series of further markets, such as US environmental and freight markets.
Power
Trading volumes on the EEX Group power markets grew by 36% compared to 2022, reaching 8,660.9 TWh in 2023, which level also surpasses the pre-crisis trading levels of 2021 at 7,405.7 TWh.
- Trading across all EEX power futures markets increased in 2023, with particularly significant growth on the Greek (+479%) and Japanese (+171%) power derivatives markets YoY, a record year for the latter market in its third year of operation. The European power derivatives markets have seen an overall growth of 55%, reaching a total of 5,185.3 TWh, exceeding 5,000 TWh for the first time.
- European Power spot markets, operated by EPEX SPOT, also recorded an increase of 18% to 724.5 TWh, primarily driven by the Intraday markets (+31%)
- Nodal Exchange’s US power futures markets continued to expand with a new annual record of 2,732.8 TWh, 15% up from last year’s 2,383.4 TWh.
Natural Gas
Following the record trading volumes on EEX Group’s natural gas markets in 2022, 2023 saw continued expansion of trading levels with a 9% year-on-year increase recorded, corresponding to a total of 7,293.9 TWh.
- European Gas derivatives markets expanded by 28% to 4,015.1 TWh, driven by the French PEG market (+102%)
- Annual trading volumes on the GET Baltic gas exchange, which joined EEX Group in May 2023, reached an all-time high in 2023, with a significant 31% YoY increase to 9.1 TWh. GET Baltic’s trading results have been integrated as Baltic-Finnish gas contracts on EEX Group reports from June 2023.
- On the European gas spot markets, volumes decreased by an overall 7% to 3,190.9 TWh, while continued growth was seen on selected individual markets, such as the UK
(NBP, +154%), Danish (ETF, +197%) and Spanish (PVB, +138%) natural gas spot markets.
Environmental Markets
EEX Group’s Environmental markets expanded both in Europe and North America in 2023.
- The European emissions markets reached a volume of 1,290.3 million tonnes of CO2, an 8% increase year-on-year, including a sound growth of 26% on the Emissions spot market.
- Nodal Exchange's North American Environmental markets achieved record volumes of 344,582 contracts in 2023, up 23% YoY.
Freight
Freight markets also returned to growth in 2023, with a record number of 1,180,094 contracts, 48% over last year’s figures. The previous annual record was set in 2021, with 1,009,017 lots that year.
- Trading in Freight Options increased by 118% to 291,415 contracts.
- Trading in Freight Futures grew by 34% to 888,679 contracts.
Agricultural Products
Trading in European Dairy Futures increased by 7% throughout the year, reaching 44,312 contracts (which equals 221,560 tonnes). EEX reports several trading volume records with individual products, such as:
- Skimmed Milk Powder Futures trading volumes were up by 12%, to 141,840 tonnes.
- Whey Powder Futures trading expanded by 38% YoY, reaching 13,820 tonnes.
New indices in 2023 to improve transparency and facilitate sustainable markets
In line with EEX Group’s commitment to improve transparency and build sustainable markets, in 2023 further indices were introduced:
- HYDRIX is the first market-based price assessment for green hydrogen,
- The new Global Carbon Indices (GCI) are designed to track the performance of major global compliance carbon markets.
The complete overview of EEX Group annual volumes is available here.
EEX Group builds secure, successful and sustainable commodity markets worldwide – together with its customers. The group offers trading in power, natural gas, environmental products, freight and agriculturals as well as subsequent clearing and registry services, connecting a network of more than 800 trading participants. EEX Group consists of European Energy Exchange (EEX), EPEX SPOT, EEX Asia, Power Exchange Central Europe (PXE), GET Baltic Exchange and Nodal Exchange as well as the registry provider Grexel Systems and software companies KB Tech and Lacima. Clearing is provided by EEX Group’s clearing houses European Commodity Clearing (ECC) and Nodal Clear. EEX Group is part of Deutsche Börse Group. More information: www.eex-group.com
Contact:
EEX Public Relations
T +49 341 2156-300
presse@eex.com