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Environmentals Newsletter | October 2024 |  |
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| | | Dear customers, partners and friends of EEX,
We have come off the summer with a strong wrap up to Q3 and records with our half-year volumes. Last month, we had the launch of GO Futures on the 2nd of September. Within the first month, we have already had nearly 1 TWh of trades comprised of all four of our contracts (Wind, Solar, Hydro, and Renewable Power GO Futures) along the whole curve, over 30 members onboarded, and over twice as many members are in the admission pipeline.
We also have a number of updates for you. You can find the updated 2024 and 2025 EU ETS Auction Calendars here and we are pleased to announce that EEX's mandate as the EU common auction platform for emissions allowances has been extended until the end of 2026. Our EU ETS Webinar had over 750 simultaneous attendees, and you can watch the recording here. For those of you interested in our GO Futures, please find a recording of our latest webinar here.
This Fall, we have a packed lineup of events and look forward to connecting to you in person. This month, we had our London Working Committee to provide member updates and build a stronger community. In addition, we had fruitful conversations at Innovate4Climate in Berlin, which was focused on carbon markets around the globe this year leading up to COP29. We also look forward to meeting you in person at Carbon Forward in October, as well as our Paris, Athens, and Copenhagen events.
We are thrilled to have your ongoing support, contributing to our liquid and vibrant markets.
Below, you will find further details on the mentioned products and events. Read on and enjoy!
Best regards,
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| Steffen Köhler
| COO | EEX
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| | New GO Futures offering | |
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We and IncubEx announced the launch of a new suite of Guarantees of Origin (GO) futures contracts on 2 September 2024. EEX now offers four new GO contracts:
1. EEX European Renewable Power GO Future (any technology GOs: Hydro/Wind/Solar/Biomass)
2. EEX European Hydro GO Future
3. EEX European Wind GO Future
4. EEX European Solar GO Future
GOs are a key component of the energy transition as they provide transparent tracking of origins of renewable energy within the EU and help facilitate investment into renewable energy projects. The verified certificates, each representing 1 MWh from renewable energy sources, can be traded and used across Europe. These standardised EEX futures contracts allow market participants to hedge these markets.
Over the past several years, the supply and demand for GOs has increased significantly, driven by renewable energy policies and more corporations decarbonising their operations via the purchase of GOs. The volume of GOs issued in Europe has grown 46% to 987 TWh over the past five years (2019 – 2023), while the number of physical GO transfers has risen 60% to 1,409 TWh, according to the Association of Issuing Bodies. We are pleased to see the market interest in these financial instruments aimed to bolster the adoption of renewable energy, with an active order book which resulted in 926GWh traded and an Open Interest of 889 GWh within this first month.
You can find more information on our website or contact us through customer_relations@eex.com
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FOR ALL VIDEO CONTENT MAKE SURE TO CHECK OUT EEX TV
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| | Upcoming Events | | This Fall, we have planned a number of events for our community. Below is the schedule and do not hesitate to reach out to us for an invitation.
• 8 October – EEX/EPEX Paris Registries and GOs Event
• 8-10 October – London Carbon Forward
• 17 October – EEX Group Athens Workshop and Reception
• 7 November – EEX/EPEX Copenhagen Registries and GOs Event
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| | North American Update | | In Q3, environmental markets on Nodal Exchange showed significant growth in volume and open interest.
Open interest topped a record 400,000 lots in September, up about 50% from a year earlier. Volume over the quarter topped 250,000 lots, up more than 195% with growth in futures and options across carbon, renewable energy certificate (REC) and renewable fuel products.
Nodal, in collaboration with IncubEx, continued to expand the North American suite of environmental products with the launch of seven new contracts:
• Alberta TIER Emission Performance Credits
• M-RETS CRS-Listed Canadian Sited Wind RECs Front and Back Half
• ERCOT Reporting Year CRS-Listed Wind RECs
• NAR Wind RECs
• M-RETS Wind RECs
• ERCOT Wind RECs
• California Book and Claim RECs
The new contracts expand upon the extensive set of REC futures on Nodal, providing additional risk management tools for a broad range of market participants including renewable generators and consumers. The Alberta Technology Innovation and Emissions Reduction (TIER) Emission Performance Credits (EPC) futures contract physically delivers credits issued to obligated entities for the difference between their allocated and reported emissions for the compliance period.
Nodal Exchange currently lists nearly 120 environmental futures and options.
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| | | London Party Photos | |
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12 Sept
London
We reconnected with over 500 customers and partners at our London reception. Thank you for making it such a great event!
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| | Carbon Forward | |
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8 - 10 Oct
London
We look forward to meeting customers and reconnecting with partners. Please reach out to us if you would like to arrange an in-person meeting.
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| | | EU ETS Webinar | |
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EEX is pleased to share our webinar “EU ETS – Participation in the auctions and outlook secondary market”, done in cooperation with the European Commission via MS Teams. Please find the link to the recording below.
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| | GO Futures Data | |
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EEX market data services offer strong price signals that drive risk management and investment decisions for industry players. Gain access to our app store to have the data at your finger tips any time.
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