Enmacc to launch European GOOs trading platform

German independent bilateral energy trading platform Enmacc will launch its guarantees of origins (GOOs) European trading platform tomorrow, in a move to bring more liquidity and transparency to the market.

The new trading platform, engreen, will be based on an order-book format to bring more transparency to a "partially non-transparent" market, the firm said.

Liquidity will be provided by three firms that specialise in GOOs. Norwegian renewables producer Agder Energi and Swiss trading house Nvalue will be the two liquidity providers in the first week. German GOs-specialised company Bischoff & Ditze Energy will join the two companies from 27 January.

Enmacc's head of products and managing director, Volker Puck, estimates that 30-50 orders could be submitted to the order book on the first day of the platform.

In contrast with other GOs platforms, Enmacc's engreen aims to allow participants to be more independent by delivering flexibility and enabling trading in any combination.

Market participants who use the engreen screen will see a range of products and real-time prices based on their interests — technology and location. They will then be able to trade by clicking a specific order or by placing their own buying or selling interests on the screen. Users will also be able to trade with a specific individual or decide what information they want to share with other participants.

The process is supported by the firm's real-time credit check to ensure a secure trading process. This way, "we provide more transparency", Puck told Argus.

The launch of its trading platform follows the German company's expansion in the Nordic markets last year in order to boost liquidity there. The firm is considering further projects in the region.

Enmacc launched its trading platform in Germany in 2017, followed by an independent trading screen for power and gas products with a live price feed — enmarket — in 2018. French utility Engie, Swedish state-owned utility Vattenfall and Norwegian state-owned utility Statkraft are market makers for the power book, while Austria's OMV, Germany's Wingas and Engie are market makers for gas.

Total traded European power volumes across both of Enmacc's trading environments is more than 2TWh on a strong day. Along with the Nordic region, Germany and Austria, Enmacc also offers energy trading services in the UK and eastern European markets.

More than 250 companies are signed up to Enmacc's platform solutions, and there are more than 900 users at present.

By Jacqueline Echevarría