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In October 2013, the total volume traded in power derivatives on the European Energy Exchange (EEX) amounted to 145.6 TWh. Therefore, the volume has more than doubled compared to the previous year (October 2012: 66.6 TWh). Furthermore, on 24 October 2013, EEX reached a new daily record on the market for Phelix Futures at 16.4 TWh. The overall volume included 72.3 TWh from Trade Registrations, the registration of trades for clearing.
The Power Derivatives Market volumes are broken down as follows:
|
Power |
Oct 2013 Vol. in MWh |
Oct 2012 Vol. in MWh |
|
Total trading volume |
145,591,045 |
66,621,563 |
|
Phelix Futures |
134,461,711 |
64,192,780 |
|
French Futures |
2,116,204 |
1,552,783 |
|
Phelix Options |
9,013,130 |
876,000 |
- The base load for 2014 on the Power Derivatives Market was quoted at EUR 37.57 per MWh (Germany) and EUR 42.81 per MWh (France) on 31 October 2013.
- The peak load for 2014 was quoted at EUR 48.57 per MWh (Germany) and EUR 56.50 per MWh (France).
The total trading volume on the EPEX SPOT Power Spot Market amounted to 30.4 TWh in October 2013.
Since October, EEX has also offered trade registration for power futures for Italy and Switzerland. In October, a volume of 7,200 MWh was registered for Clearing in Italian Power Futures. Furthermore, a volume of 60,000 Guarantees of Origin was traded in the Nordic Hydro product on the EEX Derivatives Market.
Emission Allowances: CO2 Derivatives Market with record Open Interest
On the EEX Market for Emission Allowances, a total volume of 86.6 million tonnes of CO2 was traded in October compared with 19.2 million tonnes of CO2 in October 2012. In October, the Primary Market Auctions contributed 75.7 million tonnes of CO2 to the total volume which is the highest ever volume that has been auctioned-off at EEX (previous record: 72.2 million tonnes of CO2 in March 2013).
On the secondary market for EUA Futures, the traded volume rose by 42 percent compared to the previous year. The increased trading activity was also evident through a continuously rising Open Interest. By the end of October, the Open Interest (the overall volume of open positions) reached 113 million tonnes of CO2 which is a new all- time high.
The volumes traded in Emission Allowances were as follows:
|
Emission Allowances |
Oct 2013 Vol. in tCO2 |
Oct 2012 Vol. in tCO2 |
|
Total trading volume |
86,599,500 |
19,221,000 |
|
EUA Spot Market Primary Market Auctions: Secondary Market: |
75,889,500 75,722,500 167,00 |
5,768,000 5,500,000 268,000 |
|
EUAA Spot Market Primary Market Auctions: |
0 0 |
2,500,000 2,500,000 |
|
EUA Derivatives Market Primary Market Auctions: Secondary Market: |
10,710,000 0 10,710,000 |
10,928,000 3,400,000 7,528,000 |
|
CER Derivatives Market |
0 |
25,000 |
- In October, the monthly average of the ECarbix (European Carbon Index) amounted to EUR 4.89 per EUA.
- On the EUA Derivatives Market, the daily settlement price in the front year contract (Dec-2013) varied between EUR 4.60 per EUA and EUR 5.34 per EUA.
New participants
In October, EEX admitted eins energie in Sachsen GmbH as a new participant on the natural gas derivatives market. Furthermore, EEX has already admitted 43 participants to trading of quality specific natural gas products which EEX launched on PEGAS on 1 October. At present, 23 participants are admitted for the trade registration service for Italian and Swiss power futures.
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.
