January 17, 2019 / 4:02 PM / 7 months ago

European energy bourse EEX saw record power futures, CO2 trades in 2018

    FRANKFURT, Jan 17 (Reuters) - Trading of electricity futures
and carbon emissions rights on the European energy bourse EEX
rose to record levels last year, while the exchange also
expanded globally, it said on Thursday.
    Leipzig-based EEX, part of Deutsche Boerse group,
said its flagship power derivatives markets saw volumes rise by
36 percent to 4,385.5 terawatt hours (TWh), within which
European futures increased by 19 percent.
    It benefited from a sustained upturn in power wholesale
prices, both over-the-counter and on exchanges, in 2018 that
also hit multi-year price highs. The boom was triggered by
strong global fuels demand and political intervention in the EU
carbon market to squeeze supply.
    "In 2018, we increased our volumes in almost every market.
In addition, with the establishment of EEX Asia and the
expansion of our offering in North America, we implemented
further important steps to strengthen EEX Group's position as a
global commodity exchange," said chief executive Peter Reitz.
    Last week, EEX's spot power unit EPEX SPOT reported an
all-time record in its 2018 volumes ahead of group totals,
citing market alignment and new partnerships.
    The EEX has established alternative contracts for Germany
and Austria after a split of the previously joint market zone
last October enforced by regulators. 
    Overall, trading volumes in both markets taken together rose
last year by 7 percent to 2,022 TWh.
    The purely German contract is the new European electricity
benchmark.
    Gas trading on EEX, which spans much of western Europe and
the Nordic countries, missed last year's record by 1 percent,
due to a sharp fall in futures trading, it said.
    EEX CO2 trading more than doubled to 2,896 million tonnes,
as the bourse carried out primary market auctions for the EU and
widened its role in the secondary emissions market.
    EEX also trades agricultural and freight products.
    Below is a selection of key trading volumes, allowing for
rounding errors.
    
                            2018         2017  Yr-Yr change
 Power derivatives     4,386 TWh    3,217 TWh      + 36 pct
 Power total*          4,962 TWh    3,761 TWh      + 32 pct
                                                           
 Gas spot            1,111.2 TWh      828 TWh      + 33 pct
 Gas derivatives         852 TWh    1,154 TWh      - 26 pct
 Gas total             1,963 TWh    1,982 TWh       - 1 pct
 Carbon              2,897 mln T  1,381 mln T     + 110 pct
 
 (Reporting by Vera Eckert, editing by Elaine Hardcastle)
  
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