The European Energy Exchange (EEX) has successfully launched new products for the Baltic-Finnish gas markets on 9 September. The extended product offering comprises products for the gas spot (Within-Day, Day, Weekend, Saturday, Sunday, Bank Holiday, Individual Day) and derivatives (Month, Quarter, Season, Year) markets for Lithuania, the common market area of Latvia-Estonia and Finland. In addition, EEX facilitates location spread trading between these markets and selected other European gas markets tradable at EEX.
On the first day of trading, a total volume of 19,366 MWh was traded. The first trade concluded was a Within Day trade by Alexela and AJ Power Gas.
Peter Reitz, CEO of EEX, explained: “The integration of the Baltic-Finnish gas markets into the joint gas market platform of EEX enables participants from the region to gain access to all EEX gas markets with one single membership and opens up the Baltic-Finnish markets to a wider network of participants which has a positive impact on the liquidity of these markets. We are committed to further developing our offering in close cooperation with the clients trading in these products. In this context, GET Baltic will remain the key center of competence for the local markets.”
Giedrė Kurmė, CEO of GET Baltic, commented: “For more than two years, we worked closely with our clients to prepare for this important change. Through dozens of webinars, workshops, and meetings, we ensured market participants were ready for the new step. Thanks to this consistent preparation, the transition to the EEX platform was smooth. I am confident that integrating the Baltic-Finnish markets into EEX will build on the strong foundation laid by GET Baltic and further accelerate the region’s success in gas trading. GET Baltic will continue to play an active role within the EEX Group, ensuring that the specific needs of local market participants are well understood and addressed.”
”It is great to see that the liquidity in EEX Baltic spot markets is still there where we left off with GET Baltic. For now, it is good to know that the fear that the Baltic spot market will lose some liquidity with the migration has not materialised,“ said Kalvi Nõu, Energy Portfolio Manager of Alexela.
“The launch of the new EEX market areas represented a significant milestone for AJ Power Gas. We prepared thoroughly for this transition and are pleased to have concluded the first ever trade on the new platform. We are confident that the new platform, powered by the expertise of EEX and ECC, will prove to be a valuable instrument for natural gas traders working to deliver the best outcomes for customers across the Baltics and Finland,” said Krišjānis Baidekalns, Deputy Director of AJ Power Group.
He added: “We also wish to offer our heartfelt thanks to everyone at GET Baltic, EEX, and ECC who supported us throughout this transformation process from day one, and we look forward to continuing our fruitful cooperation in the future.”
Up until the launch of Baltic-Finnish gas markets at EEX, these markets were offered by GET Baltic as part of EEX Group.
The European Energy Exchange (EEX) is a leading energy exchange which builds secure, successful and sustainable commodity markets worldwide – together with its customers and partners. As part of EEX Group, it serves international power, natural gas, environmental, freight and agricultural markets, and provides data, reporting and registry services. EEX is an enabler of the energy transition and decarbonisation, advancing renewables integration through dedicated products and services, including those related to guarantees of origin.
