On the occasion of its third anniversary, the European Energy Exchange (EEX) reports to have seen triple-digit growth at trading volumes on its Japanese Power Derivatives market over the first three years of operations, with a total of 21.6 TWh traded up to May 2023. In addition to the steady expansion of trading volumes, the number of participants also quadrupled to 56. To mark the third anniversary, EEX welcomed over 250 industry experts at a dedicated hybrid event in Tokyo on 7 June.
Steffen Koehler, COO of EEX, comments: “It’s been an honour to meet many of our customers and partners from the Japanese power market in person. As always, at EEX, we strive to develop our markets in collaboration with our local customers, by listening to their needs and recommendations. Together with our customers and market stakeholders, we aim to continue on this growth path and build further liquidity on this market.”
The continous growth on the Japanese EEX power derivatives market was further driven by the uptake in futures trading volumes in the first quarter of 2023, with 7.6 TWh traded between January and May, including February marking record volumes at 2.4 TWh. This already exceeded the total volume of 6.7 TWh for the full year of 2022 in just five months. Such large volumes have lifted the Japanese market to become the seventh most important market for EEX, within a relatively short time.
In order to further facilitate liquidity growth and to address the needs of this market, EEX recently announced the launch of a series of new products, to be available from 26 June. The new daily futures will allow for trading opportunities at the short end of the curve, driven primarily by market demand and renewable energy development, while the extension of maturities on monthly futures willsupport Japanese customers to better align their trading operations with the Japanese financial year starting in April.
Japan is the fourth largest power market in the world, with an annual consumption of around 900 TWh.
The European Energy Exchange (EEX) is a 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
T +49 341 2156-300
presse@eex.com