enmacc enstats February 2021

enmacc enstats February 2021

enstats informs you monthly on enmacc’s trading activities. Our charts report on the distribution of commodities, of delivery types, market areas, control areas and delivery periods in the month of February on entender.

Here you will find the enmacc enstats.

Please send us your feedback, suggestions or questions. Send our Customer Success Team a short email to success@enmacc.com chat with us or call us at +49 (0) 89 215 415 00!

Keep an eye on our LinkedIn for regular updates!

Your enmacc team

LIVE Webinar: What every Power Trader needs to know about the French wholesale market

LIVE Webinar: What every Power Trader needs to know about the French wholesale market

Emeric de Vigan CEO & Founder at COR-e joins Jens Hartmann, CEO of enmacc in episode 19 of our LIVE Digital Trader Summit. 

With more than 15 years experience working in the energy industry and specialising in the French wholesale market, Emeric will take a look at the main drivers of the French energy market, delving further into the regulatory, demand and supply side. 

You will learn about:

  • The main drivers of the French market 
  • What to look for in the future
  • Regulatory aspects
  • The post Covid recovery on the demand side
  • Status of nuclear fleet and outlook on the supply side

Details at a glance:
Date: Thursday, 11th March 2021
Time: 2pm (CET)

Register now to save your space!

Follow us on LinkedIn for further updates!

Your enmacc team

FAQ Trading Hub Europe

FAQ Trading Hub Europe

On the 1st October 2021, the two gasmarket areas NCG and Gaspool in Germany will be merged and the Trading Hub Europe (THE) will be created. This will further improve the competitive conditions in Germany. Find all fundamental Information on the new Market Area here in our 10 Q&As.

  1. Which countries does THE cover?

THE is exclusively a german gas trading hub. THE will replace and merge the former market areas of NCG and Gaspool.

The split into H- and L-gas does still exist. So the number of gas market areas in Germany is reduced from 4 (NCG-H, NCG-L, Gaspool-H, Gaspool-L) to 2 (THE-H, THE-L).

  1. When will delivery in THE start?

The first contracts will go into physical delivery on 1st of October 2021, so with the start of Q4 21.

  1. Why was THE introduced?

The main goal is to strengthen the german gas market, the increase of liquidity and a stronger market position when it comes to cross border trading and investments into the grid.
In addition, to significantly increase the churn rate, meaning the number of times gas gets traded before it is consumed.

  1. Who owns THE?

NCG and Gaspool will operate THE together and split the variety of tasks and responsibilities of the gas grid operation amongst each other.

  1. When to expect liquidity in THE?

We can expect liquidity to switch rapidly once the market participants have set up their systems accordingly. 

After talking to our german suppliers, it becomes clear that they are still in the middle of their internal adjustments of systems, contracts and processes. Currently no reliable go live date can be given.

  1. Will THE have the same liquidity as TTF?

Some analysts indeed expect the trading volumes in THE to be greater than in NCG and Gaspool combined. However, we should not expect THE to be a real competitor to TTF.

  1. What will change for enmacc clients?

enmacc clients may have to perform some internal adjustments in order to be prepared to trade THE. This includes the adjustment of some framework contracts with their counterparties in case there is no “discontinue clause” for NCG and Gaspool. There can also be changes required in their Portfolio/ETRM systems, scheduling systems, billing processes, etc. 

THE is already available for trading via entender and enmarket.

  1. What do our clients have to do?

Our clients do not have to do anything to be able to trade THE via enmacc. Our contracts do not specify specific market areas and are therefore still valid. In case we did specify a set of market areas in a contract, THE is considered the logical continuation of NCG and Gaspool and therefore the contract is still valid.

  1. When can you see THE prices on enmarket?

This depends on our market makers and on how long it will take them to adjust their pricing machines. We expect liquidity on enmarket to be available at around the same time as in the rest of the market.

  1. What will happen to the old NCG and Gaspool trades?

All existing trading data will still be available on the Deal History and via API. We will disable the possibility to create new NCG and Gaspool requests from Q4 21 on, but no old data will be lost.

Data is King enmacc Price Echo

Data is King enmacc Price Echo

enmacc Price Echo enables you to gain insights into market data and relevant price points of illiquid products such as German Power CAL 26-30. 

Bringing transparency into PPA dominated contracts.
The system runs an automated quality control and distributes aggregated data back into the market.

Active since End of September 2020 it brought great insights into the market evaluation of these maturities.

Red line = Basket price of German power Cal 26-30

Blue line = German power Base Cal 22

We see significant volatility also in the basket price. It generally follows the midterm curve products, like the front years, although the movements are weaker for the very long term contracts of the basket. We observe a correlation of 0.47 between Cal 22 and the basket price.

The average bid-offer spread in the price echo points for the basket prices is 1.40 €/MWh.

The enmacc market sentiment in January

The enmacc market sentiment in January

While the gas spot market was pretty volatile in January, the front year in NCG hardly moved.

In electricity, on the other hand, there was a little more activity at the long end. Driven by high volatility in gas and CO2 prices, there was also a lot of movement on the spot market. The front year in German electricity followed, weakened but noticeable. Overall, however, the new year started rather slowly at the long end.

The participants of the enmacc market sentiment had a very good feeling for the market. 75% of all tips predicted the right trend. A strong result.