EEX reports record month in March for European power spot markets

EEX has reported a record month for the European power spot markets in March with a trading volume of 55.9 TWh (previous record: 55.8 TWh in December 2020). This new high was mostly driven by the increase in the Intraday Market (+14 per cent to 10.4 TWh).

The total trading volume on the European power derivatives market amounted to 380 TWh which is a decline of 29 per cent. The y-o-y decline is mainly due to the strong volumes seen in March 2020 resulting from high levels of volatility as a result of the first Corona lockdown.

The Nordic Power Futures continued its strong development. The volume increased by more than 6 times to 1.4 TWh (March 2020: 229.3 GWh).

EEX Group’s global power offering also showed strong increases with 810 GWh traded on the Japanese derivatives market, which is the second highest volume since launch (record: 1,160 GWh in January 2021). Trading in US power derivatives, operated by Nodal Exchange, increased by 41 per cent to a volume of 200.3 TWh (March 2020: 141.9 TWh).

On the European gas spot market, Austrian CEGH volumes increased by 10 per cent in March 2021  to 7.6 TWh (March 2020: 6.9 TWh), while trading in the Czech market area more than doubled to 982.7 MWh (March 2020: 440.1 MWh). 
The German GASPOOL hub showed solid double-digit growth on both the spot and derivatives markets, reporting 21.6 TWh and 1.4 TWh, respectively.
As on the European power derivatives market, natural gas derivatives volumes also are compared to a strong March 2020, resulting in a y-o-y decrease of 45 per cent.

The European environmentals market recorded strong increases in March 2021, reaching a total volume of 169.4 million tonnes of CO2 traded, which represents a 53 per cent increase compared to the previous year (March 2020: 110.7 million tonnes of CO2).

This development was mostly driven by the derivatives market, which reported an increase of 88 per cent to 90.2 million tonnes of CO2. During the month, a new daily record has been achieved with 44 members trading in the emissions futures order book on a single day (16 March).

The emissions spot market grew by 26 per cent, mainly driven by increased trading activity in the secondary market (+137 per cent).

EEX’s Dry Bulk Freight business set a new all time record in March 2021, achieving a total traded volume of 122,544 lots, which marks an increase of 35 per cent compared to March 2020. This was mostly driven by the futures market which increased by 71 per cent to a volume of 114,509 lots traded.