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Environmental Newsletter | September 2023 |  |
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| | | Dear customers, partners, and friends of EEX,
We hope your Q3 has been a fruitful one. September has been a busy month with launches and reconnecting with our customers in various events and working groups in London, Copenhagen, and Milan.
Most notably, we have launched the Global Carbon Family to offer visibility into the world’s most liquid and largest markets, including the first global index to include ETS programs from the Asia Pacific.
European trading volumes in July set a record for the year, and our US environmental markets on Nodal Exchange posted a record August for volume and the second highest trading month on the exchange. The number of actively trading companies in the EUA futures orderbook has been increasing since beginning of the year. Another highlight is that EEX is running a tender for the new Matrix market maker program, which now includes the Emissions markets, which begins in October.
As many of you know, we published an updated auction calendar for 2023, with auctions for the Recovery and Resilience Facility having started from 3 July. Proceeds from the sale of these additional volumes will be used for REPowerEU projects. We expect to publish the 2024 EUA and EUAA auction calendars in Q4 once we have further details from the European Commission.
Decarbonisation is now at the fore of public policy discussions as well as company growth strategies. To that end, EEX is expanding its product offerings that enable decarbonisation and electrification. You will find further details below. I hope you enjoy this latest issue.
Best regards,
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| Steffen Köhler
| COO | EEX
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| | Introducing the EEX Global Carbon Index Family | |
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On the 5th of September, we launched the EEX Global Carbon Index (GCI) Family, offering a comprehensive view into rapidly evolving global carbon markets. The EEX GCI introduce a unique methodology with a weighting cap volume of ETS programs to show a more accurate picture of carbon that is accounted for. In particular, the EEX GCI Extended is the first index to include ETS programs from the Asia Pacific, including China, providing a more comprehensive and accurate view into global carbon pricing. In the GCI Family, you will find:
- GCI Core: EU ETS, UK ETS, as well as the California Cap and Trade Program and Regional Greenhouse Gas Initiative (RGGI)
- GCI Extended: GCI Core and China National ETS, Korea ETS and the New Zealand ETS
- Zero Carbon Freight Index (ZCFI)
The EEX GCI Core and Extended are published on the EEX Transparency Platform every weekday, except for holidays as defined in the EEX Group holiday calendar. The Core and Extended indices have the following variants: Spot Index, Total Return Index and Excess Return Index. All indices are published in US dollars and euros.
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FOR ALL VIDEO CONTENT MAKE SURE TO CHECK OUT EEX TV
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| | EEX launching registry and auctioning services for biogas Guarantees of Origin (GOs) in France | |
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EEX has been appointed by the French Ministry of Ecology, Sustainable Development and Energy to develop and operate registry and auctioning services for biogas Guarantees of Origin (GOs), as well as registry services for biogas production certificates.
EEX will launch the biogas GO registry on 1 October 2023 in coordination with the Ministry. First auctions for biogas GOs are expected to be held at the beginning of 2024.
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| | North American RECs, carbon and renewable fuels markets pick up momentum at Nodal | |
Environmental markets on Nodal Exchange posted a record August for volume and the second highest trading month on the exchange. Total volume for August was 36,495 lots and open interest ending the month at 262,680 contracts, up 48% and 24.6% from the year earlier respectively.
Several contract groups powered volume and open interest over the month. Renewable energy certificates (RECs) as a group posted volume of 21,142 contracts for the month and open interest across REC products ended the month at 215,552 lots, up 17% and 32% from the year prior respectively.
REC registry highlights include:
- NEPOOL-related REC open interest hit 43,057 contracts in August, up 110% from 20,500 a year earlier.
- Texas CRS wind and solar REC open interest hit another new record of 54,816 contracts, ending the month at 54,338 lots, up 36% from last year.
In addition, the first trades of National CRS Listed Wind Renewable Energy Certificate (REC) futures contracts took place.
In the carbon market, Nodal posted the first Washington Vintage Specific futures trades. That contract launched on August 11th along with Washington Clean Fuels Program futures.
In renewable fuels, physically-delivered California Low Carbon Fuel Credit (LCFS) futures also continued recent volume and open interest gains. California LCFS futures posted volume of 7,500 lots in August, with open interest rising to 13,850 contracts, an increase of 1104% from a year earlier.
North American markets on Nodal continue to gain momentum across the product suite, with key carbon auctions still to come this fall.
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| | EEX Group London Reception
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7 September 2023 | London, UK
A night to remember - our big EEX Group London Reception took place last week. Over 400 guests came to the party that night and celebrated our fruitful cooperation in building secure, successful and sustainable commodity markets worldwide. Let’s take a look:
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| | Carbon Forward Conference | |
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11-13 October 23 | London, UK
Ellen De Vocht from EEX and Richard Wilson from IncubEx will hold a workshop on "Integrating the maritime sector into the EU ETS – when and how? A practical guide." Our experts from EEX & IncubEx would be happy to meet you at our booth. Get in touch to schedule a chat!
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