Leipzig, 19 July 2023 – EEX Group reported significant growth in almost all markets in the first half of 2023. After declines in the previous year, trading on the European power derivatives markets increased significantly. The natural gas markets continued their growth course. With the introduction of new products in the power, natural gas and freight markets as well as the acquisition of a majority stake in GET Baltic, EEX Group further expanded its product range.
Peter Reitz, CEO of EEX, comments: "The past year has shown that exchange-based instruments play an important role in mastering crises and ensuring security of supply. For this purpose, it is of utmost importance to continuously develop the markets in close collaboration with market participants, with consideration to changing needs and political and economic environment. We implemented this approach across our entire existing product portfolio in the first half of the year and also launched future-oriented initiatives in the hydrogen sector."
Trading volumes on the power spot markets, operated by EPEX SPOT, increased by a total of 13% compared to previous year. The intraday markets, in particular, recorded a strong growth of 31%. In the first half of the year, EPEX SPOT expanded its services to local power exchanges by successfully launching day-ahead markets in North Macedonia and Montenegro.
Trading volumes on the European power derivatives markets increased by 17% to 2,222 TWh by end of June. In this context, EEX again achieved double-digit growth in its three largest market areas, covering Germany (+26%), France (+12%) and Italy (+15%). A positive trend was also seen in the Belgian (+41%) and Dutch (+77%) power futures markets. In June, EEX expanded its offering to include power futures for Croatia.
U.S. power futures markets, operated by Nodal Exchange, rose to a record volume of 1,542 TWh, while trading volume in Japanese power futures almost tripled to 8.6 TWh year on year. Daily futures and additional monthly maturities for the Japanese market have also been tradable since the end of June.
Trading on the European gas spot markets increased by 8% to 1,619 TWh. EEX recorded increases in the majority of its market areas, in particular on the German THE (+11%), French PEG (+6%) and the Danish ETF markets (+75%). The highest growth rate was reported for the British NBP market (+325%).
On the European gas futures markets of EEX, the traded volume increased by 36%. The strong development in the Netherlands (TTF: +21%), Germany (THE: +47%) and France (PEG: +227%) contributed significantly to this growth. EEX extended the EGSI, the most liquid index in European spot trading for natural gas, to the British NBP gas market and also introduced corresponding financial futures.
Trading in the Group's US environmental products increased by 21%. Global freight business rose by 67% overall, with a strong development in options products.
In addition, EEX made further progress in the first half of the year to integrate hydrogen into the market and thus to advance the road to a carbon-free future for the energy industry. Since May, EEX has been publishing HYDRIX, the first market-based index that is based on actual trading prices for green hydrogen and which can provide a benchmark for investment decisions. In addition, EEX has developed a trading platform for hydrogen and has signed Hintco, a subsidiary of the H2Global Foundation, as the first customer to use this platform. The aim of the index and the launch of the platform is to create a competitive European price signal for green hydrogen and its derivatives, with a global impact.
"EEX Group is on a sound path to expand its market position and increase liquidity in existing and new markets also in the second half of the year," Reitz adds. "The planned introduction of zonal power futures for the Nordic markets and the development of the trading platform for hydrogen are two projects that we are pushing ahead with full speed in order to further develop the energy markets in a sustainable manner."
The full overview of EEX Group volumes for the first half year of 2023 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, GET Baltic, Power Exchange Central Europe (PXE) and Nodal Exchange as well as the registry provider Grexel Systems and the 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