Quarter-century of electrical power - EEX sets sights on Brazil's power market
Cool beans! The Leipzig power exchange, aka European Energy Exchange (EEX), has made a massive leap since its launch 25 years ago and is now eyeing some exciting new markets around the globe.
"What's up next on the radar?" you ask. Well, CEO Peter Reitz reckons Brazil could be a golden opportunity. Europe also shows promise, particularly the Scandinavian power markets, while Asia isn't far behind – fibbers like Japan are ripe for development. The Asian elephant, China, despite being the world's second-largest economy, is not much of a factor since the market there ain't all that free and competitive.
Last year, the turned over nearly 670 million euros, sailing up by 16% over 2020. With over 1,200 employees across their 25 offices spread worldwide, from Denver to Tokyo, EEX is the world's largest power exchange. The largest shareholder is Deutsche Börse AG, holding around 75%, and the state of Saxony also chips in with a 3% stake.
Apart from targeting new markets, EEX is gunning for growth by bringing more electricity and gas from the over-the-counter market to the exchange. Green hydrogen seems to be in their sights as well, and they're already cooking up a platform for climate-conscious steelworks and chemical factories. The first auction is scheduled for next year, says Reitz. That's some serious future-proofing!
Now, this is just the tip of the iceberg – the EEX group dabbles in a whole bunch of other energy and commodity products like power, natural gas, environmentals, freight, metals, and agriculturals. Keep your eyes peeled, folks – the future of energy just got a whole lot greener!
References:1. EEX celebrates the 5th anniversary of its Tokyo power futures market2. European Energy Exchange Group - Company Overview3. Digital Operational Resilience Act (DORA)4. European Energy Exchange Group - Corporate Governance
The EEX Group, with its sights set on green hydrogen and climate-conscious industries, is planning to expand further into Asia, targeting markets like Japan, China, and others in the region. Additionally, the company is aiming to strengthen their position in the finance and energy industry by bringing more over-the-counter goods, such as electricity and gas, to the exchange.
