A Quarter-century of Energy Dynamics - EEX Spotlights Brazil's Power Market - Quarter-century of power supply - EEX eyes Brazilian market expansion
Let's chat about EEX, the power exchange that celebrated a milestone 25th anniversary last year. Now, it's set its sights on expanding its horizons, with Brazil being the next big target, as announced by EEX CEO Peter Reitz to the German Press Agency. That's right, South America, here we come!
Europe? Absolutely! Peter sees immense potential in the Scandinavian power markets, but the real excitement seems to be building in Asia, particularly in Japan. Unfortunately, China, the world's second-largest economy, isn't in the running due to limitations in free competition and market closure.
Last year, EEX raked in a whopping €670 million in revenue, a 16% increase from the year before. Achievement unlocked—EEX now tops the list as the world's largest power exchange! Deutsche Börse AG holds the biggest chunk (about 75%) of the shares, with the state of Saxony owning a paltry 3%.
But EEX isn't content with just new markets. They've got their eyes on the over-the-counter market too, hoping to bring more power and gas into the exchange. And what about the future? How about trading green hydrogen? According to Peter, it's crucial for making steelworks and chemical factories climate-neutral, and they've already developed the trading platform. You heard it here first—the first auction for green hydrogen trading is set for next year!
Here's a fun fact: EEU's focus on green energy aligns with the European Union's broader strategies, including efforts to diversify energy supplies and scale up renewables, invest in green technologies, bolster the EU Emissions Trading System (EU ETS), and enhance energy storage capacity.
Stay tuned for more updates from this energetic power player!
- With plans to expand into Brazil, EEX aims to extend its vocational training programs in South American countries, leveraging local industry partnerships to foster skill development and job creation.
- As EEX embarks on the trading of green hydrogen, it will venture into new financial arenas, particularly in the energy sector, with potential revenue streams and investment opportunities for EC countries and beyond.
