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Paris-based Powernext today announced that Fluxys, the Belgian gas transmission system operator, will start market-based balancing operations on the Belgian ZTP hub through its PEGAS platform as of 1 October 2016.
Powernext successfully launched spot and futures contracts on the ZTP hub on 9 July 2014, enabling market participants to trade H- and L-gas via the PEGAS platform. From January to June 2016, the total volume increased to 8.7 TWh (including a monthly record of 2.4 TWh in May), compared to 1.7 TWh in the first half of 2015, making PEGAS the leading platform on ZTP since March 2015.
Fluxys will announce its daily needs to its shippers and the information will be released as well by Powernext to its spot members.
Egbert Laege, CEO of Powernext, comments: “Powernext is very pleased about this development of long-lasting relationship with Fluxys. Our cooperation will not be limited to balancing operations and will enable more product innovations and opportunities in Belgium and its connected gas markets. This marks another step for PEGAS to become the preferred European gas trading platform.”
PEGAS is the central gas trading platform of EEX Group operated by Powernext. PEGAS provides its members with access to all products on one single platform and allows them to trade natural gas contracts in the Belgian, Dutch, French, German, Italian and UK market areas. The product range of PEGAS covers spot and derivatives contracts for the major European gas hubs as well as trading in location spread products between these market areas. This setup enables market harmonisation and forms the preferred pan-European natural gas market. For more information: www.pegas-trading.com
