Data Insights Greater transparency for the energy industry
Data is at the heart of our business. Our aim is to provide price transparency for the energy markets to our customers while ensuring their satisfaction remains our top priority. Whether regulation is in place or not, data plays a crucial role in shaping our daily lives, both personally and professionally. Therefore, obtaining a comprehensive understanding of data is indispensable to keep up with current developments. We strive to live up this responsibility every day. We hope you enjoy reading our newsletter.
EEX HYDRIX – Price transparency for hydrogen supports the energy transition
Hydrogen will be central to the economy's decarbonisation, reflected in the latest update of the German national hydrogen strategy in July 2023. This includes specific measures to support the market ramp-up by 2030 and beyond: prioritising the use of hydrogen and its derivatives for energy supply and establishing a long-distance pipeline network. To build this new market, together with the industry and the regulators, price transparency is a decisive step towards establishing sustainable and non-discriminatory trading markets for hydrogen. In this context, we introduced EEX HYDRIX, the world's first market-based hydrogen index. EEX HYDRIX reflects traded prices for hydrogen. For the first time, market participants, regulators and political decision-makers are thus given a price orientation for the hydrogen market, which is still in its infancy.
The introduction of EEX HYDRIX is a milestone to create the much needed price transparency of green hydrogen. EEX HYDRIX has replaced cost-based approaches as the market-based reference price for green hydrogen in Germany and provides a trusted price reference to the economy. EEX HYDRIX data in real time: Price transparency for hydrogen by EEX Group DataSource EEX HYDRIX is published once a week on the EEX Transparency Platform. To support automated processing of the data, EEX now also provides EEX HYDRIX as a data product as part of its EEX Group DataSource offering. EEX HYDRIX thus complements the range of high-precision prices in real time with a further energy source in addition to power, natural gas, and environmental products. Test EEX HYDRIX free of charge and without obligation. To mark the launch of EEX HYDRIX in the EEX Group DataSource service, the index is offered free of charge and can therefore be ordered immediately via the EEX Group Web shop.
EEX Transparency Platform welcomes first Reporting Member from outside the EU
In addition to market participants from the European Union (EU) fulfilling their REMIT obligations, Devoll Hydropower Sh.a. has joined the EEX Transparency Platform as the first reporting company from outside the EU. As an EU candidate since 2014, Albania is striving to fulfil its obligations in line with EU-Albania relations and with the EU accession negotiations. The launch of the Albanian Power Exchange earlier this year was a milestone for the country's integration into the EU's electricity market model. In 2021, the Albanian Energy Regulatory Agency (ERE) approved REMIT, which aims to ensure transparent competitive conditions and prevent abusive behaviour. The Devoll Hydropower Project, consisting of two power plants, Banjë (72 MW) and Moglicë (197 MW), shows that the EEX Transparency Platform not only supports EU member states in the fulfilment of their REMIT obligations, but also non-EU countries in their approximation efforts. Information on Devoll Hydropower can be accessed via API here.
“Whiffle's advanced Large-Eddy Simulation weather modelling technology marks a new era in forecasting. It combines real-world physics with unparalleled computing power, offering a level of clarity and precision that is essential for energy traders.” Remco Verzijlbergh | Co-founder & CTO
Weather volatility, exacerbated by climate change, impacts both wind and solar power generation. As we move towards an energy system increasingly based on renewables, the atmosphere is becoming one of our primary sources of sustainable energy. Understanding atmospheric dynamics has become a significant economic and societal priority. By empowering energy traders with precise, high-resolution insights into atmospheric conditions, Whiffle directly influences power generation strategies. This reduces the financial burden (imbalance costs) of maintaining redundant systems and allows for more efficient allocation of resources, making Whiffle’s solutions not only a technological breakthrough but a financial game-changer for the renewable energy sector. Essentially, what Whiffle offers traders is a robust and reliable, short-term forecasting solution tailored for renewable energy production at various levels – whether it is a single asset, an entire park, or a vast portfolio. Utilising the power of Large-Eddy Simulation (LES) executed on advanced Graphics Processing Units (GPUs), Whiffle’s unique technology is particularly adept at capturing critical factors such as turbulence and wakes for wind energy production, as well as cloud movements and solar irradiance for solar energy production – however complex the site terrain.
Forecast the weather on a scale as small as 10 by 10 meters
Weather and power production forecasts up to 4 days ahead
Asset, park or portfolio level
Hourly forecast updates
Real-time observation and planning ingestion (adjustment for availability, curtailment wind speed, power production)
Probabilistic and deterministic forecasts
Would you like to learn more about Whiffle's forecasting solutions? Check out InsightCommodity or book your demo.