In June 2013, the total volume traded in power derivatives on the European Energy Exchange (EEX) amounted to 91.8 TWh compared to 83.2 TWh in June 2012. The Power Derivatives Market volume contained 47.0 TWh from OTC clearing.
The Power Derivatives Market volumes are broken down as follows:
Power |
June 2013 Vol. in MWh |
June 2012 Vol. in MWh |
Total trading volume |
91,792,130 |
83,213,582 |
Phelix Futures |
85,511,744 |
77,952,043 |
French Futures |
2,021,086 |
1,444,339 |
Phelix Options |
4,259,300 |
3,817,200 |
- The base load for 2014 on the Power Derivatives Market was quoted at EUR 37.48 per MWh (Germany) and EUR 41.88 per MWh (France) on 28 June 2013.
- The peak load for 2014 was determined at EUR 47.78 per MWh (Germany) and at EUR 55.75 per MWh (France).
The total trading volume on the EPEX SPOT Power Spot Market amounted to 28.4 TWh in June 2013.
Successful launch of Guarantees of Origin
On 6 June 2013, EEX launched trading in Guarantees of Origin on the Derivatives Market. In order to accumulate liquidity in this new market, trading takes place on one day per week – each Thursday from 13.00 to 16.00 pm. Since the launch, trades were concluded on three out of four trading days, amounting to a total trading volume of 15,000 Guarantees of Origin in the Nordic Hydro product.
Gas Market: EEX Futures successfully migrated on PEGAS
On the Natural Gas Spot and Derivatives Market, a total volume of 7,523,153 MWh was traded in June, almost double the volume for June 2012. During the month, the EEX Natural Gas Futures for the market areas GASPOOL (on 4 June) and NetConnect Germany (NCG) (on 27 June) have been successfully migrated to PEGAS, the EEX and Powernext common trading platform for the Natural Gas Market. A volume of 920,830 MWh and therefore 32 percent of the Derivatives volume have been traded on PEGAS in June.
The Natural Gas Market volumes are broken down as follows:
Natural Gas |
June 2013 Vol. in MWh |
June 2012 Vol. in MWh |
Total trading volume |
7,523,153 |
3,516,998 |
Spot Market (GASPOOL, NCG and TTF market areas) |
4,624,323 |
1,578,288 |
Derivatives Market (GASPOOL and NCG market areas)
OTC clearing volume: |
2,898,830
117,360 |
1,938,710
208,440 |
- The daily reference price on the Spot Market for Natural Gas ranged between EUR 25.250 per MWh and EUR 28.589 per MWh.
- For delivery in July, the EGIX Germany reference price was quoted at EUR 26.350 per MWh (EGIX GASPOOL: EUR 26.290 per MWh; EGIX NCG at EUR 26.400 per MWh).
Emission Allowances: EEX confirmed as Permanent German Auction Platform
On the EEX Markets for Emission Allowances, a total volume of 59,619,000 tonnes of CO2 was traded in June, with a volume of 57,618,000 tonnes of CO2 coming from the primary market auctions. Furthermore, the EU Member States confirmed EEX asPermanent German Auction Platform for Emission Allowances. The relevant body of the EU Member States, the Climate Change Committee, approved the nomination on18 June 2013.
The volumes traded in Emission Allowances were as follows:
Emission Allowances |
June 2013 Vol. in tCO2 |
June 2012 Vol. in tCO2 |
Total trading volume |
59,619,000 |
25,432,000 |
EUA Spot Market Primary Market Auctions: Secondary Market: |
57,890,000 57,618,000 272,000 |
2,357,000 2,200,000 157,000 |
CER Spot Market |
275,000 |
- |
EUA Derivatives Market Primary Market Auctions: Secondary Market |
1,454,000 0 1,454,000 |
22,950,000 12,150,000 10,800,000 |
CER Derivatives Market |
0 |
125,000 |
- In June, the monthly average of the ECarbix (European Carbon Index) amounted to EUR 4.23 per EUA.
- On the EUA Derivatives Market, the daily settlement price in the front year contract (Dec-2013) varied between EUR 3.92 per EUA and EUR 4.78 per EUA.
New participants
In June 2013, EEX admitted Azienda Elettrica Ticinese, Bellinzona (Switzerland), to trade on the Spot Market for Emissions. Cross Energy Trading, Amsterdam, was admitted for trading on the Emissions Derivatives Market. Poweo Direct Energie S.A.,Paris, became new participant on the Natural Gas Derivatives Market and in addition, EEX admitted OMV Trading GmbH, Vienna, for trading on the Power Derivatives Market. Nine companies have been admitted for the trading of Guarantees of Origin in June.
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 areprovided by the clearing house European Commodity Clearing AG (ECC). EEX is a member of Eurex Group.