Powernext® Gas is continuing its development:
Since its launch on 26 November 2008, 1081 GWh have been traded on Powernext® Gas Spot. 836 trades have been concluded, covering the three balancing areas: PEG Nord and Sud of GRTgaz and PEG TIGF. On Powernext® Gas Futures, 3021 GWh have been concluded and all maturities (months, quarters and seasons) have been traded.
“We are very satisfied with the development of the volumes, including the spot market. On that segment, Powernext is already on the top of the list of continental gas exchanges. The availability of daily robust price references for the spot and futures markets up to 3 seasons ahead is something new and appreciated, not only by the market participants, but also by the whole industry”, comments Jean-François Conil-Lacoste, Powernext’s CEO.
Since the launch, the Powernext® Gas Spot Daily Average Price (DAP) reference for the PEG Nord has been calculated for every single day. The first Powernext® Gas Futures Monthly Index has also been set at 23.03 €/MWh and published on December 30 for the January 2009 month contract.
“The already-significant liquidity on the futures market will strengthen upon the arrival of new members with diverse profiles. We are extremely happy to welcome today RWE Supply & Trading, our 12th member, on the exchange. Many other companies are in the application process and should start soon”, adds Mr. Conil-Lacoste.
Powernext SA, incorporated in 2001, manages several complementary, transparent and anonymous energy markets: Powernext® Gas Spot and Powernext® Gas Futures were launched on November 26, 2008: the members participate to the setup of reliable price references allowing the market participants to cover their volume and price risks from Within-Day to the next three gas seasons ; Powernext® Balancing GRTgaz allows the Transmission System Operator GRTgaz to progressively cover its daily balancing needs through a market based mechanism. EPEX Spot, based in Paris, launched on January 1st 2009 and owned at 50% by Powernext, facilitates, 365 days a year, the hourly balancing of physical power delivered the following day on the French, German/Austrian and Swiss hubs.Powernext® Futures provides electricity price risk hedging for a period ranging between one month and three years; during the second quarter 2009, Powernext will contribute the French power futures to a new GmbH [German limited liability company] in Leipzig and, will own 20 percent of the shares in the company. Powernext® Carbon, the leading spot EUA market, was sold to NYSE Euronext in December 2007.