PEGAS, the pan-European gas trading platform operated by Powernext, has successfully launched physically settled Spot and Futures contracts, quoted in pence per therms, for the Belgian Zeebrugge Beach (ZEE) gas hub on 17 April 2015. On the same day, a Daily Average Price index for the Zeebrugge Trading Point (ZTP) in Euros per Megawatt-Hour was introduced.
The first transaction was completed on the first trading day at 08:49 AM CET on ZEE May 2015 contract at 45.025 pence per therm with a volume of 25,000 therms. This represented the first cleared Futures trade ever made on the Zeebrugge hub. 14 trading members are set up for trading of the new products, with more members currently in the process of being admitted.
“With the addition of the new ZEE contracts and with the ZTP and ZTPL (ZTP L-gas) products launched in July 2014, PEGAS is offering new trading opportunities through the widest range of products in two of the most important European hubs”, comments Dr. Egbert Laege, CEO of Powernext.
Moreover, PEGAS is now providing a new ZTP Daily Average Price (DAP) index which is the weighted average of all transactions during a trading day.
"Fluxys supports this new launch that makes the Belgian market even more visible,” says Fluxys Belgium spokesman Laurent Remy. “The availability of both hubs on one platform - ZEE in pence/th and ZTP in Euro/MWh - makes the offer really complete. The launch of a transparent PEGAS index in €/MWh on the ZTP is also an important step. We are confident that it will foster further development of indexed contracts for Belgium."
