Powernext, Central European Gas Hub (CEGH) and Power Exchange Central Europe (PXE) have announced the successful migration of the CEGH Czech Gas Market to the pan- European trading platform PEGAS, operated by Powernext. It concludes the integration phase of the cooperation, as initially announced in September 2017.
At 8:00 AM on Friday 8 December, all CZ VTP spot and futures contracts were available for trading on PEGAS.
The migration includes the successful transfer of 17 PXE Gas Exchange members, including the addition of 4 new market participants to the Powernext membership.
David Kučera, CEO of Power Exchange Central Europe, stated: “Cooperation with Powernext is another step in our common strategy to develop strong pan-European commodity market and it will certainly boost liquidity of Czech gas market.”
Gottfried Steiner, CEO of CEGH, added: “The migration of the CEGH Czech Gas products to the PEGAS platform will further develop the Czech gas market and link the Central Eastern European gas markets closer together.”
Egbert Laege, President of Powernext, concluded: “The migration marks a significant milestone in the cooperation between Powernext and CEGH through their joint venture PEGAS CEGH Gas Exchange and their expert partner PXE. It enables PEGAS to widen its product offer and expand its geographical reach in Eastern Europe”.
Clearing and settlement of all CZ VTP contracts are provided by the clearing house European Commodity Clearing (ECC).Central European Gas Hub AG (CEGH) is the operator of the Virtual Trading Point (VTP) in Austria and provides a gas nomination platform for international gas companies. The Gas Exchange products for the Austrian market are offered on the PEGAS platform in cooperation between Powernext and CEGH. Moreover, CEGH also offers the CEGH Czech Gas Exchange in cooperation with PXE. CEGH is a subsidiary of OMV Gas & Power (65%), Wiener Boerse (20%) and Eustream (15%). In 2016, CEGH established itself as one of Central Europe's leading trading platforms when it achieved a nominated volume of 533 TWh of natural gas at the CEGH-VTP. For more information: http://www.cegh.at/
Powernext, established in 2001, is a regulated market under French legislation. Powernext is headquartered in Paris and active across Europe. As a market facilitator Powernext develops tailor-made solutions for energy markets. As part of EEX Group, a group of companies serving international commodity markets, Powernext operates the Pan-European gas platform PEGAS, as well as the registry for Guarantees of Origins and the registry for Capacity Certificates for RTE. Powernext will start operating the White Certificates registry in France in 2018. Other services include solutions for TSOs to balance natural gas.. For more information: www.powernext.com
Power Exchange Central Europe (PXE) established in July 2007, offers trading in Czech, Slovak, Hungarian, Polish and Romanian electricity and operates the CEGH Czech Gas Market in cooperation with the Austrian Central European Gas Hub AG (CEGH). PXE also offers end consumers the opportunity to find the best electricity supplier by means of electronic auctions. For more information: www.pxe.cz
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 Austrian, Belgian, Czech, Danish, 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 and time spread products. This setup enables market harmonisation and forms the preferred pan-European natural gas market. For more information: www.pegas-trading.com
