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PEGAS to launch Spot Contracts for NBP

August 4, 2014

ENP Newswire - 04 August 2014

Release date- 31072014 - Leipzig, Paris - PEGAS, the joint natural gas platform of EEX and Powernext, will further expand its product portfolio with Spot Market contracts for the British National Balancing Point.

The new product is scheduled to be launched on 15 October 2014.

The offering for the NBP hub comprises physically fulfilled contracts for Within-Day, Day-Ahead, Weekend, Saturday, Sunday and Individual Days which will be tradable on Trayport ETS(SM). The payment process for the trades already takes place on the following business day. Trading of the new NBP product will be available 24/7.

'The extension of our gas offering to the British market area is an important step to further develop PEGAS towards a truly Pan European gas platform', says Jean-Francois Conil-Lacoste, Chief Executive Officer of Powernext. Peter Reitz, Chief Executive Officer of EEX, adds: 'PEGAS has become the clear leader with regards to liquidity in exchange traded spot gas contracts in continental Europe. Our ambition is to extend this level of liquidity to the NBP spot market as well.'

Clearing and settlement of all transactions will be executed by European Commodity Clearing (ECC) which conducts the nomination of the trades on behalf of the participant and ensures a straight-forward financial settlement.

For trading of the new products, participants will be exempt from fees for six months, starting on 15 October. This includes trading fees as well as clearing and delivery fees. Furthermore, new members on PEGAS do not have to pay the annual membership fee for the first year of trading.

This announcement follows the successful launch of Spot and Futures contracts for the Belgian Zeebrugge Trading Point (ZTP) and the introduction of 24/7 opening hours on the French PEG Spot Markets. Since 9 July, spot contracts for Within-Day, Day-Ahead, Weekend, Saturday, Sunday and Individual Days as well as spreads between ZTP and NCG, TTF, GASPOOL and PEG-Nord are tradable. At a later stage, PEGAS will launch Spot contracts for the Belgian hub Zeebrugge Beach (ZEE) as well as the associated location spread between ZEE and NBP.

In the first half of 2014, a volume of 248.4 TWh was traded on the PEGAS markets which is more than the total volume reached in 2013 (222.6 TWh).

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, Dutch and Belgian market areas. Furthermore, spread products between these market areas are tradable on the same trading platform.

About EEX

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. In the context of its majority shareholding in Cleartrade Exchange (CLTX), EEX additionally offers the markets for freight, iron ore, fuel oil and fertilizer. 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.

About Powernext

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, the Netherlands and Belgium. 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.


Katrin Berken

Tel: +49 341 21 56 - 202

Fax: +49 341 21 56 - 109


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Source: ENP Newswire

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