March 2013 was marked by great success for the European Energy Exchange (EEX) with an achievement in growth across all commodities. Power Derivatives Market 18 percent higher than in the previous year
In March 2013, a volume of 95.7 TWh was traded on the EEX Power Derivatives Market which corresponds to an 18-percent increase compared to the same period in March 2012. The Power Derivatives Market volume included 38.6 TWh from OTC clearing.
The Power Derivatives Market volumes are broken down as follows:
|
Power |
March 2013 Vol. in MWh |
March 2012 Vol. in MWh |
|
Total trading volume |
95,657,427 |
81,143,237 |
|
Phelix Futures |
92,578,754 |
72,769,519 |
|
French Futures |
870,173 |
1,855,318 |
|
Phelix Options |
2,208,500 |
6,518,400 |
- The base load for 2014 on the Power Derivatives Market was quoted at EUR 41.71 per MWh (Germany) and EUR 45.41 per MWh (France) on 28 March 2013.
- The peak load for 2014 was determined at EUR 51.91 per MWh (Germany) and at EUR 57.38 per MWh (France).
The total trading volume on the EPEX SPOT Power Spot Market amounted to 29.5 TWh in March 2013.
All-time high in Natural Gas trading
On the EEX Natural Gas Spot and Derivatives Market, a total volume of 11.9 TWh was traded. This constituted a new monthly record (previous record: 11.7 TWh in November 2011). Compared with February 2013, this forms an increase of 49 percent and, compared with March 2012, the volume significantly increased by 76 percent.
Additionally, the daily volume on the Spot Market exceeded a level of 700 GWh for the first time in March this year.
The Natural Gas Market volumes are broken down as follows:
|
Natural Gas |
March 2013 Vol. in MWh |
March 2012 Vol. in MWh |
|
Total trading volume |
11,898,727 |
6,757,679 |
|
Spot Market (GASPOOL, NCG and TTF market areas) |
8,944,117 |
3,456,599 |
|
Derivatives Market (GASPOOL and NCG market areas)
thereof: OTC clearing volume |
2,954,610
7,440 |
3,301,080
130,200 |
- The daily reference price on the Spot Market for Natural Gas ranged between EUR 25.95 per MWh and EUR 39.51 per MWh.
- For delivery in April, the EGIX Germany reference price was quoted at EUR 26.79 per MWh (EGIX GASPOOL: EUR 26.84 per MWh, EGIX NCG: EUR 26.79 per MWh).
Secondary Market for EUAs continues to increase
On the EEX Market for Emission Allowances, a total volume of 74,340,000 tonnes of CO2 was traded in March, with a volume of 72,225,000 tonnes of CO2 coming from the primary market auctions. At 978,000 tonnes of CO2, the traded volume on the Spot Market was more than 4 times higher than in March 2012.
The volumes traded in Emission Allowances were as follows:
|
Emission Allowances |
March 2013 Vol. in tCO2 |
March 2012 Vol. in tCO2 |
|
Total trading volume |
74,340,000 |
9,228,000 |
|
EUA Spot Market thereof: Primary Market Auctions thereof: Secondary Market |
73,203,000 72,225,000 978,000 |
3,270,000 3,050,000 220,000 |
|
EUA Derivatives Market thereof: Primary Market Auctions thereof: Secondary Market |
1,137,000 0 1,137,000 |
5,692,000 2,580,000 3,112,000 |
|
CER Derivatives Market |
0 |
266,000 |
- In March, the monthly average of the ECarbix (European Carbon Index) amounted to EUR 4.07 per EUA. It is calculated and published as an exchange-based price for the current market value of EU emission allowances.
- On the EUA Derivatives Market, the daily settlement price in the front year contract (Dec-2013) varied between EUR 3.53 per EUA and EUR 4.96 per EUA.
New participants
In March, EEX admitted three new companies – namely Factor CO2 Integral Trading Services SA, TEI ENERGY SPA and Mark-E Aktiengesellschaft –, to trade on the Emissions Spot Market. Mark-E Aktiengesellschaft was also admitted as a new trading participant for the Natural Gas Spot and Derivatives Market as well as OMV Trading GmbH and Shell Energy Europe Limited. Additionally, Cross Energy Trading was admitted to trade on the Power Derivatives Market.
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 and coal are traded. Clearing and settlement of all trading transactions are provided by the clearing house European Commodity Clearing (ECC). EEX is a member of Eurex Group.
