Leipzig – Istanbul, 28 February 2024. The European Energy Exchange (EEX) and the Turkish energy exchange Enerji Piyasaları İşletme A.Ş. (EPİAŞ) today signed a Memorandum of Understanding to underline their joint commitment in developing the Emissions Trading System (ETS) in Türkiye.

Peter Reitz, CEO of EEX, says: “EEX has a proven track record in developing and operating emissions trading schemes in Europe and beyond. We look forward to working with EPİAŞ in creating a robust ETS in Türkiye by providing our expertise in carbon markets. National ETS are essential to create a global carbon price, and hence, an important market-based tool to drive decarbonisation. We are committed to contributing to the development of carbon pricing all around the globe.”

Taha Meli Arvas, CEO of EPİAŞ, says: “ETS is a crucial tool in allowing countries to achieve their climate change and “green-transition” goals. As Türkiye’s energy exchange, EPİAŞ is establishing a carbon market and we are committed to develop and operate a well-functioning ETS that will collaborate with European energy markets. I believe that our new journey with EEX will greatly contribute to our joint goal of establishing an effective and efficient ETS in Türkiye, compatible with EU practices.”

EEX has conducted primary auctions since 2010 and currently operates the service on behalf of 25 EU Member States, three EEA EFTA states as well as the Innovation Fund, Modernisation Fund and the Recovery and Resilience Facility for REPowerEU. In this capacity, EEX also manages emissions auctions for Poland and for the UK in respect of generation of electricity in Northern Ireland, while running the national ETS for Germany (nEHS), as well as  secondary spot, futures, and options markets .

EEX offers tools and technology to build robust carbon markets worldwide that align financial markets and global decarbonisation goals, and already contributes its expertise and underlying technology for the New Zealand ETS auctions on the New Zealand Exchange (NZX). In addition, it publishes the world’s first Global Carbon Index, comprising selected compliance carbon markets from Asia Pacific, North America and the EU.

The European Energy Exchange (EEX) is a leading energy exchange which builds secure, successful and sustainable commodity markets worldwide – together with its customers. As part of EEX Group, a group of companies serving international commodity markets, it offers contracts on power, natural gas and emission allowances as well as freight and agricultural products. EEX also provides registry services as well as auctions for guarantees of origin, on behalf of the French State. More information: www.eex.com

Enerji Piyasaları İşletme A.Ş. (EPİAŞ) is the energy exchange of Türkiye which operates power, natural gas and environmental markets by providing reliable and transparent market conditions. Moreover, as a central counterparty EPİAŞ is responsible for financial settlement and invoicing services. EPİAŞ also operates renewable energy guarantees of origin registry system. More information: www.epias.com.tr/en