On 1 April 2015, a common market area will be implemented in southern France under the name “Trading Region South” (TRS) replacing the existing GRTgaz PEG Sud and the TIGF market areas. PEGAS, the pan- European gas trading platform operated by Powernext, announces that Spot and Futures products will be tradable on the TRS market area from 31 March 2015, replacing the existing PEG Sud and PEG TIGF contracts which have been traded on Powernext since 26 November 2008.
Thierry Trouvé, CEO of gas transmission operator GRTgaz, mentions: “The establishment of TRS will increase the attractiveness of the French gas market. This is a first step towards the creation of a single wholesale gas market in France by 2018 as encouraged by the French Energy Regulator CRE”.
Monique Delamare, CEO of gas transmission and storage operator TIGF, adds: “The main aim of TRS is to simplify client access to the wholesale gas market in southern France, introducing a common price for the settlement of imbalances. As from 1 April 2015, shippers will no longer have to subscribe capacities to the interconnection of the two networks”.
“Powernext welcomes the TRS initiative, as a more liquid southern French area will help our Members to balance their portfolio in this region where volatility is comparatively much stronger than on PEG Nord due to its strong dependency on LNG imports and regularly congested connection with PEG Nord”, comments Jean-François Conil- Lacoste, CEO of Powernext.
