The European Energy Exchange (EEX) launched Fiscal Year Futures on the Japanese power derivatives market today. The new contracts allow trading participants to align with the Japanese financial year, which runs from 1 April to 31 March of the following year.
Trading started successfully with 280,320 MWh volume reached in the new contracts already on the first day, including the first trade brokered by Vanir Global Markets.
James Whistler, Managing Director of Vanir Global Markets, says: “The launch marks an important evolution in Japan’s power futures market structure – moving from the dominance of summer-winter seasonal strips to full-year instruments that provide greater hedging efficiency and pricing transparency.”
Steffen Koehler, Chief Commercial Officer of EEX, comments: “Our new Fiscal Year Futures allow the trading community to hedge their risks also in line with the Japanese financial year. It’s important for us to tailor our offering to local needs wherever we operate and we believe that these new contracts will contribute to the further sophistication of trading strategies on this market.”
Takahiro Izumi, Managing Director, Trading, Tohoku EPCO Trading Co. Inc., adds: “We are delighted that Fiscal Year Futures trading is now available at EEX. These new contracts are an excellent addition to the existing portfolio and will enable market players to shape the trading strategy even better, in order to achieve more appropriate price hedging, especially during times when unexpected geopolitical events are just around the corner. We are looking forward to leveraging these for the benefit of all.”
The EEX Japanese Power Derivatives market has grown dynamically over the past five years, with over 100 TWh traded to date in 2025. In contrast, the total volume for 2024 reached 72.9 TWh.
EEX’s offering for this market includes a range of futures of various maturities, as well as monthly options for the Tokyo and Kansai areas. In addition, central order book trading started in April 2025.
