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Environmental Newsletter | June 2023 |  |
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| | | Dear customers, partners and friends of EEX,
Environmental markets have continued to grow in 2023. In the light of the announced changes to the EU ETS, we have focused on providing information to our customers and companies that will soon have compliance obligations, such as ones in the maritime sector. In this newsletter, you will find links to our EU ETS webinar recordings on the maritime sector and the EUA auctions.
As many of you know, carbon prices decreased from around €100 per lot in February and March to just over €80 per lot by May. Nonetheless, net open interest remains quite robust in both our EU and North American markets. In addition, the initial margin requirement decreased to a very competitive €8,370 per lot before cross-margining (5 June 23).
In North America, Nodal Exchange was named Exchange of the Year by Energy Risk. As North American carbon has continued to grow, Nodal Exchange has set monthly records in April and May. You will find further details below.
As environmental topics come to the fore around the globe, EEX Group aims to work alongside our partners and customers to drive sustainable growth. In this issue, you will find practical resources for the evolving carbon and offset markets. I hope you enjoy this latest issue.
Best regards,
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| Steffen Köhler
| COO | EEX
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| | Catch up on the latest EU ETS webinars | |
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With the EU ETS changes introduced in April, industry players who have the latest information from experts can get ahead in their compliance and emissions reduction strategies. EEX has hosted two webinars to help you do just that - with speakers from the European Commission, industry leaders, as well as EEX experts.
EU ETS – Auction participation and Secondary Market outlook
In the video, you will learn about EEX as the common auction platform, options to access the emissions auctions, the auction process, as well as the secondary emissions market, and get answers to frequent questions whether you are an existing customer or an entity with new compliance obligations under the EU ETS.
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| Maritime inclusion in the EU ETS
In this webinar recording, you will learn from experts from public policy as well as the carbon and freight industries to explain what inclusion into the ETS means, when the changes will take effect, and how organisations in the shipping market can access the ETS.
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FOR ALL VIDEO CONTENT - MAKE SURE TO CHECK OUT EEX TV
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| | Carbonwise launch | |
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This month, the educational platform on emerging carbon markets, Carbonwise, was launched. EEX is proud to partner with AirCarbon Exchange and Net Zero Markets to contribute to its launch videos.
On this platform you can learn about concepts such as the voluntary carbon market, as well as ways companies can offset their emissions and drive change.
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| | Strong Q2 for environmental markets on Nodal | |
Nodal Exchange posted consecutive monthly records in Q2. In April, the open interest in environmental products reached a record high of 255,418 lots, up 33% from the end of April 2022. In May, record open interest reached 274,666 lots and closed the month at 263,917 lots, up 34% from 197,504 lots in the previous year.
Renewable energy certificates (RECs) posted a record open interest of 241,451 lots, and closed the month at 230,667 contracts, up 37% from 168,975 lots a year earlier. REC contracts that hit monthly volume and/or open interest records included the New Jersey Class II RECs, Massachusetts CES-E, Pennsylvania Solar AECs, Pennsylvania AEC Tier 2, and NAR (North American Registry) CRS RECs. Texas CRS wind and solar futures, as well as options, in particular, exceeded an open interest of 50,000 in mid-June (corresponding to 50 million MWh), up 43% year-on-year.
Texas CRS wind and Texas CRS solar futures and options closed May with a combined open interest of 49,861 lots (equal to 49.8 million MWh), up 43% from a year earlier. These so-called “voluntary RECs” listed on Nodal form one of the fastest-growing North American environmental markets.
Nodal has also introduced first-of-their-kind contracts on May 26th:
- Virginia Compliance Renewable Energy Certificate (REC) Futures
- PJM Quad-Qualified Renewable Energy Certificate Futures
- California Carbon Offset Zero (CCO-0) with Direct Environmental Benefits (DEBS) Futures
For more information on North American environmental products reach out to IncubEx.
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| | Touchpoint - The feature-rich platform just got richer! | | Since its launch in September 2022, Touchpoint has brought together all EEX asset classes in a single, intuitive, and easy-to-use trade registration platform. Today, this feature-rich system provides a comprehensive range of trade registration and administration services and tools, allowing users to control all parts of the OTC trade workflow. We have added some new features to the platform for you! Check out the how-to videos in the platform linked below.
You can also arrange a 1:1 demo with Team Touchpoint.
Just reach out to Richard Heath or Zhi Rui (Ray) Ang.
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| | E-world 2023 | |
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| E-world is always an annual highlight where we meet our customers, partners, and colleagues. It was three, fully packed days with productive talks, new connections, and memorable events. EEX participated in the New Energy System Forum and discussed how exchanges contribute to a secure, successful and sustainable future. A further highlight was, of course, having our newest EEX Group family member, GET Baltic, at this event. You can get a sense of how the days unfolded in our photo gallery on the EEX Group website.
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FIA Forum Leipzig
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| 29 June | Leipzig, Germany 12:00-16:30 CEST
FIA and EEX Group bring together industry experts and participants to discuss current market trends as well as the latest regulatory developments impacting the use of derivatives in these markets.
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Argus Carbon Markets
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| 5-7 July 23 | Lisbon, Portugal
New for Argus Carbon Markets: IncubEx and EEX are proud sponsors of the Argus Carbon Conference in Lisbon, Ellen De Vocht from EEX will be discussing "Sectoral expansion: What is the future of more sectors in the EU ETS?" with industry experts.
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Carbon Forward Conference
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| 11-13 October 23 | London, UK
Our EEX experts will be presenting on stage and be available to speak at our booth alongside our partners at IncubEx. Please get in touch if you would like to schedule a meeting.
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