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In 2013, volumes on PEGAS – the common platform established by EEX and Powernext – increased significantly. In total, 222.6 TWh were traded on all PEGAS Spot and Derivatives Markets. This represented an increase of 39 percent compared to the previous year (2012: 160.2 TWh). Volumes on the Spot Markets (German GASPOOL and NCG, Dutch TTF, French PEG Nord, PEG Sud, PEG TIGF) increased by 91 percent to 151.0 TWh in 2013 (2012: 79.0 TWh) with significantly higher volumes in all market areas. In 2013, the volume on the Derivatives Market (German GASPOOL and NCG, Dutch TTF, French PEG Nord and PEG Sud) amounted to 71.6 TWh (2012: 81.0 TWh).
“The growth trend continues, shown by the January 2014 volumes traded on PEGAS which marked a new monthly record.” says Peter Reitz, Chief Executive Officer of EEX. In January 2014, the volume amounted to 43.0 TWh which is an increase of 55 percent compared the previous record achieved in November 2013 (27.8 TWh).
PEGAS was launched following the trading participants’ call for an integrated European gas market and their need for a unique trading platform. As a further step in offering customers a Pan-European platform, natural gas products for Belgium and the United Kingdom will be launched by mid-2014, both companies announced on a press conference held in Essen today. “Both the NBP and the Belgian markets for exchange traded spot and futures contracts are highly relevant in increasing the strategic positioning of PEGAS”, adds Peter Reitz.
The new products will comprise spot and derivatives products for the UK trading hub National Balancing Point (NBP) and the Belgian market areas Zeebrugge Beach (ZEE) and Zeebrugge Trading Point (ZTP). This will also include the possibility to trade location spreads between NBP and ZEE as well as between ZTP and NCG, GASPOOL, TTF and PEG Nord. On the Spot market, the offering will comprise Within- Day, Day and Weekend contracts whereas, on the Derivatives Markets, Month, Quarter, Season and Year Futures will be tradable.
“Our ambition is to offer all European mature hubs and relevant locational spreads, with central clearing at the European Commodity Clearing (ECC) clearing house”, says Jean-François Conil-Lacoste, Chief Executive Officer of Powernext. “In addition to this, we will also widen spot 24/7 trading for the French PEGs in the middle of the year, this will allow our participants to trade with more flexibility.”
In the course of 2013, the product offering on PEGAS was extended by a range of new products. Product innovations included quality-specific gas products for the German markets areas as well as a Front Month future product for PEG Sud market area along with the corresponding PEG Sud/PEG Nord spread contract. Furthermore, 1 MW products have been available for trading for all market areas. Last week, on 4 February 2014, a new PEG TIGF/PEG Sud spot spread contract was launched.
The PEGAS cooperation was launched on 29 May 2013. In the context of this cooperation, EEX and Powernext bundled all of their natural gas products on one single trading platform, operated on Trayport®’s Exchange Trading SystemSM (ETS), and harmonised their admission procedures in order to facilitate access for market participants. Clearing and settlement for all products is provided by European Commodity Clearing (ECC), the mutual clearing house of EEX and Powernext.
