EEX bourse saw 16% revenue growth in 2024 as power volumes grew

By Vera Eckert

FRANKFURT (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. 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)

(Reporting by Vera Eckert; Editing by Jan Harvey)