EEX European Spot markets up 11 per cent in November

Submitted 04/12/2020 - 9:14am

The European Spot markets as operated by EPEX SPOT increased by 11 per cent to 52.4 TWh in November, largely driven by the good performance in both the Intraday (+18 per cent to 9.5 TWh) and the Day-Ahead markets (+10 per cent to 42.9 TWh).

On the European Power Derivatives market, the total volume increased by 35 per cent to 494.8 TWh with Belgium, Slovenia and the Nordics setting new monthly records respectively.

The German (+44 per cent to 313.4 TWh), French (+22 per cent to 58.8 TWh), Spanish (+30 per cent to 20.4 TWh) and Hungarian (+29 per cent to 21.4 TWh) Power Futures continued to report significant growth, confirming their position as major liquidity pools. In Power Options, the upward trend continued with volumes increasing by 277 per cent to 13.1 TWh throughout the month.

Six months after launching, the Japanese Power Derivatives set a new monthly record. Notable factors, including a rise in overall trading frequency, a significant upswing in the number of new, active trading participants and the start of the winter ’21 hedging season contributed to a total traded volume of 150.1 GWh.

Overall, EEX’s European Power Derivatives business achieved a major milestone in November by exceeding 4,000 TWh traded in the year to date, for the first time in its history.

The European Gas Derivatives market increased by 23 per cent to a total volume of 83.0 TWh (November 2019: 67.4 TWh). The Dutch TTF was the main growth driver, achieving an increase of 22 per cent to 69.5 TWh (November 2019: 56.8 TWh) while both the Italian PSV (946.2 GWh) and CEGH Czech VTP (552.2 GWh) markets recorded triple-digit growth.

On the Spot segment, the German GASPOOL showed a solid increase of 8 per cent in November with a volume of 15.6 TWh (November 2019: 14.5 TWh). The French PEG and the CEGH Czech VTP both recorded double-digit growth to 15.1 TWh and 824.1 GWh, respectively.

The European emissions markets achieved further growth on every segment with a total volume of 173.8 million tonnes of CO2 traded in November 2020. With 93.2 million tonnes of CO2, the Derivatives market rose by 78 per cent to a new record (previous record in November 2018 with 64.7 million tonnes of CO2).

EEX has been re-appointed as the common auction platform (CAP) for EU ETS emission allowances by the European Commission for another period of up to five years.

EEX Freight reported another month of impressive growth throughout November, achieving an overall increase of 915 per cent to 60,744 lots traded (November 2019: 5,985 lots).

In Freight Options, volumes rose significantly to 21,105 lots, representing an increase of 2,831 per cent compared to last year (November 2019: 720 lots), while EEX Freight Futures continued its upward growth trend, increasing by 653 per cent to 39,639 lots traded (November 2019: 5,265 lots).

In November 2020, the Agricultural products of EEX rose by 28 per cent to 3,789 contracts driven mainly by European dairy futures, which increased by 92 per cent to 2,415 contracts (November 2019: 1,257 contracts).
 

Tags Results & performance Markets