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Environmental Newsletter | July 2024 |  |
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| | | Dear customers, partners and friends of EEX,
We have finished an exciting Q2 for 2024, with record market participants and trade volumes, with 44% growth in the EU emissions markets alone. Just as importantly, we have had many opportunities to connect with you. In this past quarter, you may have seen us at Argus Carbon Markets Conference, our EEX Geneva event, as well as our Trader Workshop and Leipzig Party.
The success of our markets is thanks to your confidence in us. We do not take this lightly and have continued to extend our services. We have prolonged our services for the New Zealand ETS in cooperation with NZX until the end of February 2026 and our new GO Futures will be available from the 2nd of September, 2024. In addition, we will be holding an informational webinar for the EU ETS on the 5th of September, as well as hosting a London reception on the 12thof September.
To serve our customers better, we have made a number of improvements to our ECC member portal, including two-factor authentication (2FA), and our US-based Nodal Exchange has announced a cooperation with Deutsche Börse for market data and services.
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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| | EEX and IncubEx introduce new GO Futures | |
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| With its companies Grexel, EEX and EPEX SPOT, EEX Group already operates the entire value chain for the GO markets, including registry services, auctions and clearing & settlement, thus ensuring standardisation, transparency and trust in the market for renewable energies. Now, we and IncubEx are proud to announce the launch of a new suite of Guarantees of Origin (GO) futures contracts on 2 September 2024. EEX will list four new GO contracts:
- EEX European Renewable Power GO Future (any technology GOs: Hydro/Wind/Solar/Biomass)
- EEX European Hydro GO Future
- EEX European Wind GO Future
- 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. The new standardised EEX futures contracts will 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.
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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| | North American H1 Update | | Environmental markets on Nodal Exchange posted record volume and open interest in the first half of 2024 with records each month, including an all-time record volume in May of 51,747 lots.
Open interest ended H1 up nearly 30%, topping 345,000 contracts and hitting an open interest record of 362,282 lots on the 24th of May. Volume in the first half of the year rose 65%, topping 270,000 lots.
Broken down further, renewable energy certificate (REC) and renewable fuel credit product groups on Nodal showed significant growth.
Nodal, in collaboration with IncubEx, posted open interest growth across all REC contracts of 14%, with more than 267,000 lots at the end of Q2. The REC group also posted a new open interest record of 284,683 lots on the 24th of May. The increase was supported by strong volumes in NEPOOL, PJM and CRS-related REC contracts. Texas CRS wind and solar RECs, the first successful voluntary REC products listed, posted volume of more than 74,000 contracts in H1, up 22% from a year earlier, and more than 38,000 lots in Q2, up almost 65%. Open interest in Texas contracts was close to 70,000 lots at the end of Q2, up 38%.
Renewable fuel credit futures continued to show massive growth over the first half of 2024 and during Q2. For H1, more than 66,000 contracts in renewable fuel credit contracts were traded, up more than 950% from a year earlier, while Q2 volume of more than 32,000 lots rose 426%. The product group has been led by California Low Carbon Fuel Standard futures and options volumes that have skyrocketed during the first half of the year.
In North American compliance carbon markets, Regional Greenhouse Gas Initiative futures open interest topped 15,500 lots at the end of Q2, up about 2% from a year earlier.
Looking ahead, the North American market shows robust potential across the environmental market suite driven by more participants on Nodal as well as a number of revised state and regional emissions and renewable energy policies. You can read further details here.
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| | | Leipzig Party Photos | |
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We’re thrilled to have seen so many of our customers and partners again this year at our flagship EEX summer party!
You can check out the photos here.
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| | London Reception | |
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| 12 Sep 24 | 6:30pm GMT
Location: Skylon
EEX is pleased to invite you to our annual London reception. If you have not already received a Save-the-Date, reach out to us here.
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| | | EU ETS September Webinar | |
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| 5 Sep 24 | 10:30 – 12:00 CEST
EEX is pleased to invite you to our webinar “EU ETS – Participation in the auctions and outlook secondary market”, which will be held in cooperation with the European Commission via MS Teams.
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| | EUA price signals for maritime | |
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| Next to trading and clearing services, EEX market data services offer strong price signals that drive risk management and investment decisions for industry players.
To ensure the seamless integration of prices for further processing, EEX provides multiple ways to consume the data in different granularity. Analytics solutions are also available, provided directly by EEX or via its partners. You can find out more information on dedicated EEX Market Data page or contact our team directly.
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