The European Energy Exchange (EEX) has today announced its role in the newly launched S&P GSCI European Power indices which utilise price data from EEX’ flagship European power futures contracts.
The new indices are a first of their kind for the power industry and will include German, French, Italian and Spanish power futures prices listed on EEX. As a result, potential investors now have a suite of credible and reliable performance benchmarks which track the price development of the power market, while reflecting the ongoing shift from fossil fuel reliance to a more sustainable energy mix.
Speaking on the launch, Fiona Boal, Global Head of Commodities at S&P Dow Jones Indices (S&P DJI), comments: “We are very excited to extend our S&P GSCI index series to include power indices for European and global markets. With the increasing adoption of renewables into the energy supply mix, the power markets are expected to play a crucial role in the green energy transition. S&P DJI’s goal is to provide a transparent, reliable and independent performance benchmark that will help investors evaluate risks, returns and opportunities in this market.”
ESG considerations have increasingly become an important factor in the power market. This is reflected in Europe’s ongoing commitments to increase the overall level of renewables in the energy mix to at least 40% by 2030. Already today, more than 40% of Germany’s annual electricity generation is coming from renewable sources with the target to increase that level to 80% by the end of the decade. Added to this, power as a commodity is widely recognised as a product which is directly investable, allowing stakeholders around the world to participate on the market while tracking the ongoing energy transition.
As one of the world’s leading commodity exchanges, EEX Group has proven track record in developing liquid and robust energy markets, offering a wide range of spot and derivatives products in power, natural gas and emissions while in tandem supporting the transition towards a decarbonised energy sector.
Peter Reitz, CEO of EEX, comments on the launch: “Contributing our futures prices to the S&P GSCI European Power Indices is a major milestone for EEX as it opens up our power derivatives products to financial investors from around the globe. We are thrilled to see our main power contracts being listed in the S&P GSCI European Power index suite which ultimately increases EEX’s distribution and global access to the products. In light of the green transition of economies worldwide, we are convinced that power prices constitute an attractive addition to the S&P GSCI commodity index suite for investors worldwide.”
The S&P GSCI European Power Indices are based on quarterly and annual French, German, Italian and Spanish power futures data provided by EEX. For more information, please visit www.spdji.com
The European Energy Exchange (EEX) is the leading energy exchange which builds secure, successful and sustainable commodity markets worldwide – together with its customers. As part of EEX Group, a group of companies serving international commodity markets, it offers contracts on Power, Natural Gas and Emission Allowances as well as Freight and Agricultural Products. EEX also provides registry services as well as auctions for Guarantees of Origin, on behalf of the French State. More information: www.eex.com
Contact:
EEX Public Relations
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presse@eex.com