enechain’s Platform to Start Handling Daily Power Products, Aiming to Create a Short-Term Market

enechain, a company that offers the largest wholesale energy trading marketplace in Japan, has launched daily power products on its wholesale energy platform. enechain today brokered trades for a total of 150 MW using the European Energy Exchange's (EEX) newly-launched clearing service for these products. For more information, please see the EEX announcement.

enechain’s eSquare, an online platform for hedging energy products, creates a market where anyone can buy and sell energy at fair prices, anywhere, anytime. eSquare aims to provide price transparency and transaction liquidity and has recently undertaken wholesale sales of electricity by Hokkaido Electric Power Company and JERA on a non-discriminatory annual basis for FY2023. As a result, the volume of wholesale electricity transactions has already exceeded 1 trillion yen, making it the largest in Japan.

Until now, eSquare’s main focus has been on medium to long-term power products. Recently, renewable energy generators and retail energy providers, which are the main buyers of wholesale electricity, have expressed a need to hedge market price risk on a shorter term basis. In order to reach Japan’s renewable energy targets (36%-38% of the power mix) there is an ever growing need for renewable generators to accurately hedge in the near term.

As a result of growing requirements enechain has launched daily power products for both physical and derivative markets on eSquare. enechain will continue to invest in the creation of a free market for more flexible short-term trading, expanding liquidity and working towards decarbonisation.

As the operator of Japan's largest energy platform, enechain is committed to expanding transparent and reliable energy trading under the mission "Building energy markets colouring your life".