.jpg)
Today, the Federal Minister for Economic Affairs and Energy, Sigmar Gabriel visited the European Energy Exchange (EEX) and was provided comprehensive information regarding the operation of the exchange on site. Following a discussion with representatives of EEX regarding the implementation of the energy turnaround and the relevance of energy trading on exchanges, Federal Minister Gabriel visited the Market Supervision – which operates at the heart of the exchange. Here, pricing on the exchange was explained and Federal Minister Gabriel also watched current developments on the power, natural gas and emission allowances markets live on screen.
“We were delighted to welcome the Federal Minister Sigmar Gabriel to EEX. This visit confirms that, as an exchange under public legislation, we make a contribution to the success of the energy turnaround in Germany and Europe“, explains Peter Reitz, Chief Executive Officer of EEX. He added: “Our talks primarily focused on the implementation of the energy turnaround in line with the market in the fields of renewable energies, security of supply and climate protection.”
Federal Minister for Economic Affairs and Energy Sigmar Gabriel comments: “I am convinced that the principles of market and competition are indispensable to ensure that the energy turnaround can succeed in an industrialised nation, such as Germany, on a cost-efficient and sustainable basis. In my opinion, this also includes a transparent power price indicator, such as the price signal established on the energy
exchange in Leipzig.”
On this occasion, Peter Reitz also acknowledged the result of the latest EEG amendment: “With the introduction of mandatory direct marketing and the future determination of the amount of funding through tendering procedures, the federal government has taken an important step in order to give the promotion of renewable energies a sustainable design. With regard to Europe, the coordination with our neighbours is important to us. Within this arena, we also support greater coordination and regional co-operation in the promotion of renewable energies." And, with a view to the next energy-policy projects, he adds: “The prices established on the exchange should also be used as a market-based guiding instrument for decisions by the market players and the political sector in the future. This applies, first and foremost, to the further development of the power market design and the reform of the emissions trading system. These steps require a stable political framework within which the existing market structures can be optimised. Conversely, new administrative interventions would further restrict the energy 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, coal and guarantees of origin are traded. Through its majority shareholding in Cleartrade Exchange (CLTX), EEX additionally offers the markets for freight, iron ore, fuel oil and fertilisers. 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.
