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The European Energy Exchange (EEX) achieves first successes in trading in Guarantees of Origin (GoO), which was launched on the EEX Derivatives Market one month ago.
During the first five trading windows – each from 13:00 to 16:00 on a Thursday – the trading participants displayed interest in all GoO futures for the “Nordic Hydro”, “Alpine Hydro” and “Northern Continental Europe Wind” regions listed on EEX. Since the launch of trading on 6 June, transactions regarding a volume of, in total, 25,000 Guarantees of Origin were concluded on four out of the five trading dates.
By now, nine trading participants are registered for trading in the new products. A number of other participants are currently in the admission process. “There is definitely interest in exchange trading in Guarantees of Origin”, explains Steffen Köhler, COO of EEX, who is enthusiastic about the good start. “We expect the number of trading participants to increase further”, he adds, “and that many companies from the large network of EEX participants will choose to trade GoOs on the EEX”. The exchange has suspended the membership fees for one year for the launch of the new market segment.
Allan Vittrup, Manager, GoOs and Carbon at Danske Commodities, appreciates the new product offering of EEX: “The launch of trading in Guarantees of Origin on EEX is an important step which brings greater transparency and easy access to price reference. It has been welcomed especially by power suppliers and will help to support confidence and demand from buyers of green energy certificates across Central Europe. Danske Commodities is committed to supporting the development of this market.”
In addition, green power trader René Hiden from Energie Steiermark also expresses that trading was launched at exactly the right time: “The introduction of trading in Guarantees of Origin on EEX created a platform on which transparent prices are provided to the trading participants for the first time. Since we are convinced that this market will gain in importance in the future, we will continue to actively take part in trading in guarantees of origin and hope that the liquidity of these products on EEX will continue to increase.”
Through the Guarantees of Origin, EEX supports the further market-based expansion of renewable energies, which it recently also requested in its paper on key energypolicy issues. “Guarantees of Origin create transparency and indicate the willingness to pay more for green power. Its separate marketing generates revenue which contributes to financing renewable energies and thus has potential to reduce the EEG levy in the future“, emphasises Peter Reitz, Chief Executive Officer of EEX.
The European Energy Exchange (EEX) is the leading energy exchange in Europe. It develops, operates and connects secure, liquid and transparent markets for energy and related products on which power, natural gas, CO2 emission allowances, coal and guarantees of origin are traded. Clearing and settlement of all trading transactions are provided by the clearing house European Commodity Clearing AG (ECC). EEX is a member of Eurex Group.
