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Yesterday evening, the European Energy Exchange (EEX) welcomed numerous representatives from the political sector, associations and the energy industry to its parliamentary summer reception above the rooftops of Berlin. With this event, EEX, which is represented by political offices in Berlin and Brussels, emphasised the major importance that the political sector and regulation have for the business of the energy exchange. Special guests of honour and speakers at the event were Rainer Baake, State Secretary for Energy at the German Federal Ministry for Economic Affairs and Energy and Thomas Bareiß, Energy Commissioner of the CDU/CSU Parliamentary Group.
The current debate regarding the further development of the power market design at the national and European level in the context of the energy turnaround formed the
focus of the speeches at the event. Peter Reitz, CEO of EEX, emphasised that “liquid markets and the price signal provided by the exchange form the preconditions for the efficient implementation of the energy turnaround. This also includes permitting price peaks,” explained Peter Reitz and expressly welcomed the fact that “twelve states in Europe – including Germany – have undertaken not to establish statutory price caps and, as a result, to permit the price signal of the market to take effect in a statement on reinforced regional cooperation published recently. This forms an important decision towards the market,” emphasised Reitz.
Thomas Bareiß reiterated in his speech that the market and Europe constitute the basic pillars for the success of the energy transition. Rainer Baake also underlined that energy policy should be taken not only for environmental but also for economic success. The basis for this is a competitive determination of the subsidy. European cooperation should be strengthened and flexible instruments need to be developed to support the integration of renewable energies into the market.
Furthermore, Peter Reitz highlighted the contribution which the energy exchange makes to the success of the energy turnaround. “The market participants need products offering them even more flexible hedging against price risks. We have presented a concept on this and will launch so-called “energy turnaround products” this year. The Cap Futures, which the trading participants can use on the Derivatives Market to hedge against price peaks on the Intraday Market, form the starting point for this product
series.”
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 commodity products. At EEX, contracts on Power, Coal and Emission
Allowances as well as Freight and Agricultural Products are traded or registered for clearing. Alongside EEX, EPEX SPOT, Powernext, Cleartrade Exchange (CLTX) and Gaspoint Nordic are also part of EEX Group. Clearing and settlement of trading transactions are provided by the clearing house European Commodity Clearing (ECC).
