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Environmental Newsletter | January 2024 |  |
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| | | Dear customers, partners and friends of EEX,
We have concluded 2023 with many exciting developments and new records in our European and North American environmental markets.
In Europe, EEX's new Market Makers scheme contributed to a strong increase in volumes and participation growth in 2023. Trading volumes in derivatives recorded a 40% increase YoY in December 2023. We also introduced various updates to products - and new services. We launched new expiries for EUA Futures and Options taking into account the new 2024 September compliance timeline. Also, we have introduced the Global Carbon Indices family and have provided increased support for the maritime industry which comes under the EU ETS this year. Information on the above and the 2024 EUA and EUAA Auction calendars are provided in the subsequent sections of this newsletter.
In North America, Nodal posted a record open interest in environmental markets in 2023. In addition, Nodal has introduced six first-of-their-kind exchange-listed products, adding up to more than 120 environmental futures and options contracts offered. You can read further details in the dedicated section below.
We would like to thank you for your continued support in building markts together. At EEX, we are committed to offering a liquid, stable and competitive marketplace for emissions, alongside our power and gas markets for our customers so as to enable them to hedge their cross-commodity risk on one exchange.
I hope this invigorates you for 2024, which is just beginning.
Best regards,
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| Steffen Köhler
| COO | EEX
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| | 2024 EUA and EUAA Auction Calendars | |
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| Last month, EEX published the 2024 auction calendars for EU allowances (EUA) and EU Aviation Allowances (EUAA). The volumes from September to December 2024 are preliminary as they are subject to Market Stability Reserve (MSR) adjustments following the publication of the 2023 total number of allowances in circulation (TNAC), scheduled for 1 June 2024.
This includes information on the following:- Common EU Auction Platform (CAP3) auctions on behalf of 25 EU member states and the EEA EFTA states, the Innovation Fund, the Modernisation Fund as well as the Recovery and Resilience Facility
- Auctions for Germany, Poland as well as the UK in respect of Northern Ireland
- Auctions of EU Aviation Allowances (EUAA) including for CAP3, Germany and Poland
EEX provides detailed information in the published auction calendar at this link.
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FOR ALL VIDEO CONTENT MAKE SURE TO CHECK OUT EEX TV
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| | EU ETS maritime sector extension | |
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| This year, the sectoral expansion of the EU ETS into the maritime sector comes into effect. As a result, many companies in the maritime industry, such as ship owners and operators, will fall under the EU ETS and its prices. We have prepared a dedicated page for the maritime sector to address its specific needs and questions. On this page, you can learn more about the EU ETS, the primary and secondary markets, and see intermediaries to access the market, as well as answers to FAQs and explainer videos.
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| | q-bility launches nEHS secondary market | |
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| Our strategic partner q-bility offers a B2B trading platform for GHG quotas in Germany and Austria. In December, q-bility also launched a secondary market for the nEHS (German national ETS) on their platform, where nEHS certificates (nEZ) with previous year's vintage can be traded.
If you are interested in learning more about trading nEZ on q-bility, click on the button below to contact us at thg-quote@eex.com.
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| | North American update | | Environmental markets on Nodal posted 344,582 lots in 2023, up 23% from a year earlier, and open interest of 278,110 lots at the end of the year, up 25% from 2022. Nodal also posted record open interest for environmental products in 2023, reaching 298,694 lots in December.
Broken down further, open interest in renewable energy certificate (REC) contracts rose to 234,478 lots at yearend, up 18% from a year earlier. Nodal posted record volume in renewable fuels with 27,121 lots up 1,445% from 2022 and record open interest with 25,971 lots at yearend, up 2,373%.
In collaboration with IncubEx, Nodal also launched six first-ever exchange-listed products: New Jersey-Pennsylvania Dual-Qual Class 2 REC Futures, PJM Quad-Qual Class 1 REC Futures, Virginia RECs Futures, Washington Clean Fuels Program Futures, Washington Carbon Allowance Specific Vintage Futures and California Carbon Offset DEBS 0 Futures. These pioneering products add to more than 120 environmental futures and options contracts on Nodal, which offers the broadest suite of exchange-traded contracts.
With screen trading expected to continue its growth on Nodal environmental markets and more new products in the pipeline, 2024 is off to a strong start.
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| | Meet our experts at
E-world in Essen
Hall 3 #3G130
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We are sure you’ve already marked 20-22 February 2024 in your calendar – it’s time again for our industry's flagship event, E-world energy & water. We can't wait to meet you again. For ticket enquiries or meeting requests, please contact us.
E-world | 20 - 22 February 2024 | Essen, Germany
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| | Significant growth in Germany’s emissions trading | |
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In 2023, Germany's revenues from EU ETS and the nEHS grew by about 40% compared by 2022, as announced by the German Emissions Trading Authority (DEHSt), which is part of the country’s Federal Environment Agency (UBA). All proceeds go to the Climate and Transformation Fund (KTF), a financing instrument that contributes to achieving Germany's energy and climate policy goals. EEX has been reliably operating the EU ETS primary auctions for Germany since 2010, and the sale of fuel emission allowances for the national emissions trading system (nEHS) since 2021 and has, thus, significantly contributed to this development.
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