At its parliamentary summer reception in Berlin yesterday evening, the European Energy Exchange (EEX) welcomed numerous representatives from the political sector, associations and the business community. At the event, EEX underlined its function as an exchange under public law, which includes actively supporting and continuing its markets’ developments at a political and regulatory level. As guest speakers, EEX welcomed Thomas Bareiß, parliamentary state secretary for the Federal Ministry of Economic Affairs and Energy, and Lukas Köhler, climate policy speaker of the FDP parliamentary group.
Their speeches focused on the current debate on the expansion of CO2 pricing to economic sectors not covered by the EU emissions trading scheme (EU ETS) and, in particular, heating and transport. In his speech, Peter Reitz, EEX Chief Executive Officer, emphasised the principles of reliable and efficient emissions reduction as well as European and global connectivity in every measure. “Emissions trading can provide concrete solutions for CO2 pricing in further sectors”, explained Peter Reitz expressly emphasising “that this includes measures which are based on the existing – tried and tested – emissions trading infrastructure which can be implemented at both a European and a national level.”
In his address, Thomas Bareiß emphasised the advantages of a market-based quantity system to ensure that the targets for reducing greenhouse gas emissions are achieved. In his speech, Lukas Köhler asked for the transport and heating sector to be integrated into the European Emissions Trading Scheme, initially, in Germany or together with European partners. In his view, there are neither practical nor legal objections to this as it forms the most efficient and effective solution to achieving climate protection targets.
Peter Reitz also emphasised that this was about more than just CO2 pricing: “Ultimately, it is about sector integration – i.e. the linking of diverse sectors in order to create synergies for climate protection. This requires a cross-sector price signal for greenhouse gases - just like the price signal provided by emissions trading today. Furthermore, trading participants operating at various markets can adjust to such a price signal and make a contribution to the attainment of the climate targets.”
Since 2005, EEX has offered exchange products for trading on the Spot and Derivatives Market in the framework of the EU ETS. In addition, it also provides the leading platform for primary market auctions in Europe and has long-standing experience in regular and comprehensive CO2 auctions. In 2018, the product offering on the emissions market was first supplemented by contracts outside Europe listed at the US-based Nodal Exchange.
The European Energy Exchange (EEX) is the leading energy exchange in Europe which develops, operates and connects secure, liquid and transparent markets for energy and related products. As part of EEX Group, a group of companies serving international commodity markets, EEX offers contracts on Power and Emission Allowances as well as Freight and Agricultural Products. EEX is part of Deutsche Börse Group.
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