Launch of Powernext® Gas Spot and Powernext® Gas Futures on 26 November 2008

Launch of Powernext® Gas Spot and Powernext® Gas Futures on 26 November 2008
Powernext will launch on Wednesday 26 November 2008 Powernext® Gas Spot and Powernext® Gas Futures.

Powernext® Gas Spot and Powernext® Gas Futures:

 

Exactly seven years after the launch of Powernext® Day-Ahead, the French electricity organized market, Powernext will launch on Wednesday 26 November 2008 its gas organised market for spot (Powernext® Gas Spot) and futures (Powernext® Gas Futures) contracts on French PEGs (Point d’Echange de Gaz – Gas Exchange Points). 

This continuous trading platform based on Trayport’s technology will enable the market participants to trade within-day, day-ahead, week-end, monthly, quarterly and seasonal contracts in order to manage their volume and price risks.

The security of the transactions will be guaranteed by ECC AG (European Commodity Clearing AG), the Leipzig-based clearing house, and the outcome will result in a physical delivery on GRTgaz’s and TIGF’s networks.

15 participants took part in various simulation sessions enabling real-time tests of trading systems and process. 

Five companies will act as quotation providers thus enhancing the liquidity necessary to the emergence of a reliable and transparent price reference. 
 

About Powernext:


Powernext SA, created in July 2001, manages several complementary, transparent and anonymous energy markets : Powernext® Day-Ahead facilitates, 365 days a year, the hourly balancing of physical power delivered the following day on the French hub; Powernext® Futures provides electricity price risk hedging for a period ranging between one month and three years; Powernext-Balancing GRTgaz allows the Transmission System Operator GRTgaz to progressively cover its daily balancing needs through a market-based mechanism. Powernext® Carbon, the leading spot EUA market, was sold to NYSE Euronext in December 2007.

Share on :