Latest news with #PeterReitz
Reuters
28-04-2025
- Business
- Reuters
EEX bourse saw 16% revenue growth in 2024 as power volumes grew
FRANKFURT, April 28 (Reuters) - The European Energy Exchange's (EEX) revenue rose 16% last year, mainly driven by higher electricity trading volumes in its European, North American and Japanese markets and with new international trade participants joining, it said on Monday. With 80 new participants joining last year, there are now 950 members active in power, gas, environmental products, freight and agriculture, as well as related clearing services on the EEX. Last year's revenue grew to 669.9 million euros ($760 million) from 575.6 million euros in 2023, said EEX, which grew out of a Germany-based electricity bourse founded 25 years ago and is a part of Deutsche Boerse ( opens new tab. Adjusted net income rose 15% to 241.9 million euros. "It's inspiring to see the continued significant volume growth across our markets," EEX CEO Peter Reitz said. "This year, we will expand our position as the leading global power trading platform." Revenue from European power derivatives in 2024 rose 58% to 194.0 million euros, while spot power market revenue was up 18% at 102.2 million euros, the EEX reported. Revenue from U.S. commodities was up 4% at 41.3 million, and from natural gas derivatives in Europe by 5% at 30.7 million euros. In the first quarter of this year, the EEX expanded European power futures trading volumes by 29%, those of European spot power by 10%, and spot gas by 19%, it said. The EEX introduced new products in 2024 including Nordic zonal power futures and Spanish Monday-through-Sunday solar peak futures. Separately on Monday, it announced it will launch new futures contracts for the EU Emissions Trading System 2 (EU ETS2) on July 7, subject to regulatory approval. Reitz also said he is observing a continued shift from over-the-counter trading to cleared exchange markets, especially in the European core power markets, where EEX holds market shares of 80-90%. ($1 = 0.8814 euros)
Reuters
12-02-2025
- Business
- Reuters
EEX gets new members as more over-the-counter trading comes on board
ESSEN, Germany, Feb 12 (Reuters) - European energy exchange EEX ( opens new tab expects strong volume growth in 2025 as more market participants join to hedge renewables and tap into the exchange's clearing functions, its chief executive said during the E-World trade fair. The exchange recorded 37% year-on-year growth in volumes of its flagship European power futures in January, which had grown 63% across 2024, CEO Peter Reitz said in an interview with Reuters. "There are two drivers: new members and more over-the-counter (OTC) market volumes shifting to the exchange," Reitz said. He said that the volatility of wind and solar electricity production was creating short-term supply risks, and thus hedging needs, also noting increasing digitisation resulting in algorithmic trading. Some 60 companies joined the EEX in 2024 to make a total of 950. Reitz heads the 25-year-old wholesale trading platform which contributes 10% to the turnover of its parent Deutsche Boerse ( opens new tab. He said EEX will widen its lead over the over-the-counter business. "There is a move to the Deutsche Boerse ( opens new tab clearing house, away from uncleared brokerage trades...I see the shift continuing," Reitz said. The EEX increased its market share in German power futures to 85% in 2024 on the exchange from 81% a year earlier, with the remainder OTC, he said. Since the 2008 financial crisis, OTC customers have been turning more to regulated marketplaces to comply with European Union financial rules, reduce counterparty risks, and try to save money on fees bundled across products and regions. EEX will offer new "Mon-Sun Peak Power Futures" in Spain later this month to account for southern Europe's rising solar generation, Reitz said. EEX overall electricity trading volumes rose 43% last year to 12,371 terawatt hours (TWh). January volume was up 37% at 1,188 TWh. Asked for a volume forecast for 2025, Reitz declined, pointing to hard-to-gauge geopolitical risks and varying energy mixes.
