ANALYSIS: EEX eyes Australia and Japan expansion amid renewable energy push

13th April, 2026

Karry Lai

The European Energy Exchange is planning to extend its offerings in Australia over the course of 2027 as energy trading surges in APAC, particularly from the battery industry.

Steffen Riediger, director of business development, power derivatives and global commodity markets at EEX, said that the APAC region is a key growth driver for EEX for the next five years.

Since launching in Japan in May 2020, the Japanese market has been the fastest growing market for EEX worldwide. Total volume for EEX's Japan power trading in 2025 was 149 terrawatt hours (TWh), up 105% compared to 2024.

Trading volume reached 81 TWh in 2026, up 127% year-on-year. Of the 81 TWh, 41 TWh was traded in March alone, setting a record on a monthly basis and 17.9 TWh was traded in the first week of March, setting a record on a weekly basis.

"Geopolitical uncertainty from the US-Iran conflict has driven volatility in energy markets and market participants are looking for products that are cleared on exchanges, eliminating counterparty risk," said Riediger.

Over the past months, there have been a number of new market entrants that have entered the Japanese energy market.

"The new daily contracts are particularly relevant for those participants that are active on the short end of the trading curve and who are good at anticipating weather patterns," said Riediger.

With products ranging from dailies and up to six calendar years, EEX is extending its daily products beyond Tokyo to Kansai, with contracts launching on May 26.

The new products will allow participants to trade the difference in daily prices between Kansai and Tokyo.

From Japan to Australia, the rapid deployment of renewable energy and complementary battery systems means that battery industry players need to manage their risk profiles.

"Battery players are interested in products that allow them to trade the spread between the high and the low prices during the day, driving interest for top to bottom spread products where they can trade the difference between the most expensive and cheapest points," said Riediger.

The top to bottom spread product offering is unique and something that EEX aims to standardise as it continues to facilitate renewable energy development and the energy transition.

Japan's energy regulator, the Ministry of Economy Trade and Industry, has plans to place hedging obligations on the power industry which will mandate retail players to hedge power supply up to three fiscal years in advance.

"This move will have significant implications for the market as participants will need to ensure that they are sufficiently hedged to procure physical power," said Riediger.

Beyond Japan, Australia is another jurisdiction of focus for EEX, which is in talks with the local regulators and industry players with the aim to extend its offerings to the Australian market in the course of 2027.

"While Australia has traditionally been a fossil fuel and coal driven market, it has seen substantial renewable energy growth, which has resulted in increasing demand to manage short-term price risks," said Riediger.

By engaging with market participants that are already connected to EEX through its hub and spoke platform, EEX aims to add additional markets to the platform in an efficient manner, including allowing for margin offsets.

EEX has plans to introduce a series of new short-term power futures for the Belgian and the Japanese Kansai power derivatives markets, as the exchange adds to its growing momentum that it has built in the Asian market.

A group of trading venues and trade bodies representing the European energy market have called for a targeted approach to reforming the EU Emissions Trading System, after some leaders floated the idea of intervening to change rules at a meeting last month.

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