The European Energy Exchange (EEX) registered the first trade in the newly launched Wind-Hydro-Solar (WHS) Guarantees of Origin Futures, launched last week in cooperation with IncubEx.
The first trade was concluded on Friday, 12 December 2025. A volume of 100 lots (equals 1,000 MWh) was traded in the WHS GO Future for delivery in January 2027 at a price of 60 €cent/MWh. The trade was arranged by the broker GFI.
Johnny Ward from GFI comments: "We are delighted to be the first brokers to trade this new product as we consistently strive to help markets grow and evolve".
Peter Reitz, CEO of EEX, comments: “The launch of our new Wind-Hydro-Solar GO Futures is a direct response to the market's demand for more hedging tools. Together with our partner IncubEx we’ll continue to support the growth and liquidity in the GO market, by adding the right products for our trading community.”
Dan Scarbrough, CEO of IncubEx, adds: “These new Guarantee of Origin (GO) futures contracts expand the successful suite of GO futures products launched in 2024, which have experienced significant growth in volume and open interest. The GO underlying market is massive and these exchange-based GO contracts are complementary to the associated power markets.”
The Wind-Hydro-Solar (WHS) GO Futures bundle the three most-traded renewable sources into a single flexible instrument. Following market research and community feedback, EEX offers two new WHS GO contracts: one with only unsubsidised GOs and another mixed contract combining subsidised and unsubsidised GOs for flexible hedging.
The product expansion builds on the significant momentum in the EEX GO Futures market. Overall, a volume of more than 40 TWh was traded since launch of GO Futures in September 2024 with and open interest of more than 16 TWh.
The European Energy Exchange (EEX) is a leading energy exchange which builds secure, successful and sustainable commodity markets worldwide – together with its customers and partners. As part of EEX Group, it serves international power, natural gas, environmental, freight and agricultural markets, and provides data, reporting and registry services. EEX is an enabler of the energy transition and decarbonisation, advancing renewables integration through dedicated products and services, including those related to guarantees of origin.
IncubEx works with partners and stakeholders to design and develop new financial products, markets and trading solutions in global environmental, climate risk, and related commodity markets. The company collaborates with the European Energy Exchange (EEX) and its U.S. subsidiary, Nodal Exchange on listed environmental products and operates The Voluntary Climate Marketplace (TVCM). IncubEx, a privately held company founded in 2016 with offices in Chicago and London, is uniquely positioned to capture these opportunities globally.
