The European Energy Exchange (EEX) has successfully passed the European Commission’s assessment process as the permanent German auction platform. The relevant body of the EU Member States, the Climate Change Committee, approved the nomination on Tuesday.
Following a formal period of three months, during which the Council and European Parliament could object, EEX will be included in the annex of the EU Auctioning Regulation. Once the amended version has entered into force, which is expected to take place in October 2013, the exchange will act as the permanent German auction platform. In this capacity, EEX will conduct the auctions for the next three years with the possibility of an extension for a further two years.
At the beginning of 2012, EEX won the tender for the transitional platform and conducts auctions of emission allowances on behalf of the Federal Republic of Germany. In addition, in its capacity as the transitional common auction platform, EEX conducts regular auctions on behalf of the European Commission and the participating Member States.
Since the beginning of the year, 91 auctions were executed by EEX comprising a volume of 329,765,000 EU allowances (EUA) of the third trading period. In the year 2013, a volume of 723,757,500 EUA will be auctioned off for Germany and the EU Member States through the Spot Market of the exchange, according to a provisional calculation by the European Commission. Therefore, more than 85 percent of the primary market auctions in Europe are conducted by EEX.
Together, European Energy Exchange (EEX) and Eurex Exchange offer their participants a platform for trading in CO2 emission allowances. In the framework of the cooperation, which was launched in December 2007, Eurex participants can trade the CO2 products listed on EEX through their existing infrastructure.
