January 16, 2018 / 3:46 PM / 4 months ago

European energy bourse sees rising trade in 2017 but power futures fall

    FRANKFURT, Jan 16 (Reuters) - Trading of gas, carbon
emissions rights and freight on the European energy bourse EEX
rose last year, but its flagship product, power derivatives, saw
a decline amid regulatory uncertainty, it said on Tuesday.
    The Leipzig-based exchange, part of Deutsche Boerse group
, blamed additional compliance duties and the
regulators' decision to split up the German and Austrian joint
power trading zones as of Oct. 18.
    Chief Executive Peter Reitz said that aside from the
German/Austrian issue, EEX had diversified its product range.
"(This) enables us to continue along our growth path," he said.
    Last week, EEX's spot power unit EPEX SPOT reported a rise
in trading volume for the past year, boosted by integration
across European prompt markets.
    Trading volumes of the flagship German power futures fell 29
percent last year to 1,882 terawatt hours (TWh) due to the
Austrian/German power trading zone split. 
    EEX had argued that the split was not the best option.
However, it started offering alternative contracts separately
for both markets and they have established themselves since. The
purely German contract is the new European electricity
benchmark.
    Gas trading on EEX, which spans much of western Europe and
the Nordic countries, jumped by 13 percent last year to 1,982
TWh.
    EEX carbon emissions rights trading increased by 45 percent
to total 1,381 million tonnes. The bourse carries out primary
market auctions for EU Emissions and Aviation Allowances, and
the remainder on the emissions allowances' secondary market.
    EEX also trades agricultural and freight products.
    Below is a selection of key trading volumes, allowing for
rounding errors.
       
                          2017         2016        Yr-Yr change
 Power derivatives          3,217 TWh   3,920 TWh     -  18 pct
 Power total*               3,761 TWh   4,456 TWh      - 17 pct
                                                   
 Gas spot                     828 TWh     666 TWh      + 24 pct
 Gas derivatives            1,154 TWh   1,090 TWh       + 6 pct
 Gas total**                1,982 TWh   1,756 TWh      + 69 pct
 Carbon                   1,381 mln T   949 mln T      + 45 pct
 
 (Reporting by Vera Eckert, editing by Susan Fenton)
  
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