Significantly increased volumes testify the success of PEGAS
Products for Belgium and UK to be launched - 24/7 spot trading planned for French Spot Markets
"The growth trend continues, shown by the January 2014 volumes traded on PEGAS which marked a new monthly record." says Peter Reitz, Chief Executive Officer of EEX. In January 2014, the volume amounted to 43.0 TWh which is an increase of 55 percent compared the previous record achieved in November 2013 (27.8 TWh).
PEGAS was launched following the trading participants' call for an integrated European gas market and their need for a unique trading platform. As a further step in offering customers a Pan-European platform, natural gas products for Belgium and the United Kingdom will be launched by mid-2014, both companies announced on a press conference held in Essen today. "Both the NBP and the Belgian markets for exchange traded spot and futures contracts are highly relevant in increasing the strategic positioning of PEGAS", adds Peter Reitz.
The new products will comprise spot and derivatives products for the UK trading hub National Balancing Point (NBP) and the Belgian market areas Zeebrugge Beach (ZEE) and Zeebrugge Trading Point (ZTP). This will also include the possibility to trade location spreads between NBP and ZEE as well as between ZTP and NCG, GASPOOL, TTF and PEG Nord. On the Spot market, the offering will comprise Within- Day, Day and Weekend contracts whereas, on the Derivatives Markets, Month, Quarter, Season and Year Futures will be tradable.
"Our ambition is to offer all European mature hubs and relevant locational spreads, with central clearing at the European Commodity Clearing (ECC) clearing house", says Jean-François Conil-Lacoste, Chief Executive Officer of Powernext. "In addition to this, we will also widen spot 24/7 trading for the French PEGs in the middle of the year, this will allow our participants to trade with more flexibility."
In the course of 2013, the product offering on PEGAS was extended by a range of new products. Product innovations included quality-specific gas products for the German markets areas as well as a Front Month future product for PEG Sud market area along with the corresponding PEG Sud/PEG Nord spread contract. Furthermore, 1 MW products have been available for trading for all market areas. Last week, on 4 February 2014, a new PEG TIGF/PEG Sud spot spread contract was launched.
The PEGAS cooperation was launched on 29 May 2013. In the context of this cooperation, EEX and Powernext bundled all of their natural gas products on one single trading platform, operated on Trayport®'s Exchange Trading SystemSM (ETS), and harmonised their admission procedures in order to facilitate access for market participants. Clearing and settlement for all products is provided by European Commodity Clearing (ECC), the mutual clearing house of EEX and Powernext.
About PEGAS - Pan-European Gas Cooperation:
PEGAS is a cooperation between the European Energy Exchange (EEX) and Powernext. In the framework of this cooperation, both companies combine their natural gas market activities to create a pan-European gas offering. Members benefit from one common Trayport gas trading platform with access to all spot and derivatives market products offered by the two exchanges for the German, French and Dutch market areas. Furthermore, spread products between these market areas are tradable on the same trading platform. For more information: www.pegas-trading.com
Powernext SA manages complementary, transparent and anonymous energy markets. Powernext Gas Spot and Powernext Gas Futures were launched on 26 November 2008 in order to hedge volume and price risks for natural gas in France and in the Netherlands. Powernext manages the National Registry for electricity guarantees of origin in France since 1 May 2013. Powernext owns 50 % in EPEX SPOT and 20 % in EEX Power Derivatives. For more information: www.powernext.com
European Energy Exchange AG
The European Energy Exchange (EEX) is the leading European energy exchange. It develops, operates and connects secure, liquid and transparent markets for energy and related products on which power, natural gas, CO2 emission allowances, coal and guarantees of origin are traded. Clearing and settlement of all trading transactions are provided by the clearing house European Commodity Clearing AG (ECC). EEX is a member of Eurex Group. For more information: www.eex.com
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