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EEX Gas & Sustainability Markets Newsletter | June 2024 |  |
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| | | Dear customers, partners and friends of EEX,
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| We are almost through the first half of 2024, and we are delighted to see encouraging figures across our gas markets. Since the beginning of the year, we have welcomed 13 new customers, adding up to over 350 participants trading on the EEX natural gas markets today.
In May, we have seen a daily record trading volume in gas futures, with 50 TWh reached on 22 May – exceeding the equally well-developing power market records. What’s more, in May EEX’s market shares were over 90% across the major gas spot markets, such as TTF, THE, PEG, CEGH, as well as ZTP.Also at NBP is developing very well and enjoys significant growth in volumes and market share.
We are not resting on our laurels however, and continue to bring further attractive offers to all of you. We’ve recently introduced new fee rebates applied on trading fees where trading volumes exceed a defined threshold, while we will provide free-of-charge reporting services for winners of THE’s ongoing market making tender.
We can’t forget about important industry news either. The German government recently decided to phase out the gas storage levy at border crossing points to neighbouring countries, following significant criticism. The levy was introduced to finance the costs of filling up gas reserves as the supply from Russia was cut off but will be gradually withdrawn by the end of this year.
For more updates from our gas markets and how we celebrated the first anniversary of our green hydrogen price index, HYDRIX, read on.
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| Steffen Köhler
| COO | EEX
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Decision to phase-out of German gas storage levy
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| The German government announced to phase out the German gas storage levy by the end of 2024 at border crossing points with neighbouring countries. Initially implemented to finance the filling of German gas storages to ensure adequate European gas supply with the absence of Russian gas supplies, the fee at interconnection points raised criticism from Germany’s neighbouring states. To cover costs that occurred while securing set storage levels in terms of European gas supplies, a levy of 1.86 €/MWh (from July 2024: 2.50 €/MWh) is currently charged at exit points to neighbouring countries. As the levy is perceived by EU member states to be an unfair market practice, leading to increased prices for gas transit and potentially hindering intra-European gas trade, increasing pressure and threats of an official EU infringement procedure resulted in Germany’s decision to phase it out at interconnection points by the end of 2024. From 2025 onwards, the levy will only apply to intra-German transport – currently until 2027.
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| > Germany to axe gas storage levy at borders from 1 January | Montel News - English
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| > Germany backs down in gas levy fight – POLITICO
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Happy Birthday, HYDRIX!
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One year after the launch, our first-of-its-kind green hydrogen index, HYDRIX, is already established as an important price signal for the green hydrogen industry. Over 40 companies across Europe already subscribe to receive HYDRIX data, and the number of contributors providing the necessary data for the calculations is also growing.
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| > More information
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EEX Hydrogen live on stage
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| On 28 May, our #EEXpert Sirko Beidatsch provided an overview of the current hydrogen market and discussed pre-requisites for a successful market ramp-up of hydrogen at HYPOS pitch, an event organised by the industry association HYPOS.
To learn more about the current landscape and the various solutions EEX provides to support this initiative, watch the recording here (only available in German):
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| > Watch recording
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Volume rebates for gas market participants
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| Since January 2024, EEX trading participants active on the futures markets benefit from rebates on EEX natural gas transaction fees. Any member trading a combination of hubs over 4 TWh per month (excluding free legs) is entitled to receive this rebate of up to 50%, based on the total volume of order book trading and trade registration in natural gas futures. The rebate is staggered as follows:
- 30% for trading volumes above 4 TWh up to (including) 8 TWh
- 40% for trading volumes above 8 TWh up to (including) 12 TWh)
- 50% for trading volumes above 12 TWh
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| > More information
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Adjustment of Minimum Lot Size in Spanish PVB market
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| The Exchange Council of EEX has recently agreed to reduce the minimum lot size in the Spanish PVB market from 10 to 1 with immediate effect, which enables trading participants to conclude smaller transactions on our platform.
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| > Contract specifications
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| > More information
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Thanks for joining
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| Thank you very much for joining us over the last months at our EEX Group Geneva, Japan, Brussels, Madrid and Leipzig events. It was a pleasure seeing you there and we hope you enjoyed it as much as we did.
We look forward to seeing you at our upcoming events and continue building markets together with you.
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| > Leipzig Get Together Party - Picture Gallery
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LNG offering extended successfully
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In April, EEX successfully launched cash settled USD / MMBtu TTF futures. This new contract supports the existing JKM LNG futures for which we extended the available expiries in December 2023. Together these two contracts mark a significant expansion of our portfolio to support customers in Europe and Asia with their LNG trading needs.
We plan to further develop this portfolio with the launch of LNG Freight Futures contracts later in 2024. LNG is an exciting new area for EEX which links our global commodities portfolio to EEX’s core power and gas markets in Europe and Japan.
For more details, please get in touch with our EEXperts Peter Blogg or Jamel Hadaoui.
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Best-practice: LNG deal & portfolio analysis with Lacima
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| Watch Lacima's Martin Ogden, Head of Business Development -Trading and LNG, showcase how to leverage business intelligence dashboards to visualise and interact with data to effectively uncover value and risk drivers across individual LNG deals and entire LNG portfolios.
In this video, you'll learn how to:- Identify and understand intrinsic and extrinsic value
- Assess value and risk in individual LNG deals
- Analyse risk and value across LNG portfolios
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| > Watch the video
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FOR ALL VIDEO CONTENT - MAKE SURE TO CHECK OUT EEX TV
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