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The European Energy Exchange (EEX) and Powernext have successfully migrated all active EEX gas market members representing 100 percent of the NCG and GASPOOL Open Interest to Powernext on 1 January 2015. As of now, all natural gas activities of the EEX Group are operated by Powernext under the brand PEGAS. In total, 154 participants are now admitted to trading natural gas products on PEGAS. The formal transfer of the majority shares in Powernext to EEX has been completed.
Peter Reitz, Chief Executive Officer of EEX, and Jean-François Conil-Lacoste, Chief Executive Officer of Powernext, comment: ”With this step, EEX Group facilitates access to all natural gas products available on PEGAS and provides trading for major European gas hubs on one platform with only one Powernext membership. This development serves our vision of a pan-European natural gas offering.”
Dr. Egbert Laege, the newly appointed Executive Director Gas Markets of EEX Group, adds: “The successful migration shows the high level of commitment of our members. Harmonising the offering is an important step and a perfect launch pad for future developments of PEGAS.”
The change in Powernext’s shareholding structure has been formally validated by its General Assembly. Therefore, with effect from 1 January 2015, EEX is majority shareholder of Powernext holding 55.8 percent of the shares.
