Paris, 20 September 2016 – The pan-European gas trading platform PEGAS and the French natural gas transmission system operator GRTgaz announced the extension of the operating hours of the coupling mechanism between France’s PEG Nord and TRS delivery zones. From 24 September onwards, the coupling will be operational also on weekends and bank holidays. This development follows the need of market participants and the request of the French regulator Commission de Regulation de l’Energie (CRE).
In July 2011, GRTgaz and Powernext launched the first coupling initiative in the European gas sector in July 2011 with the support of CRE. As part of this cooperation, GRTgaz intervenes on PEGAS Spot by making available parts of its North/South transmission capacity through the TRS / PEG Nord Day-Ahead and Week-End Spread contracts.
Richard Katz, Powernext’s Sales Director, comments: “This market coupling model which we developed for our customers together with CRE allows to trade continuously both markets and does not restrict nomination rights on the weekends. It is therefore well adapted to the specificities of the gas market. It is appropriate on border points that are regularly congested, like the PEG Nord – TRS link is and shall remain until physical investments are done.”
Catherine Brun, GRTgaz’s Vice President Marketing and Sales, adds: “The market coupling mechanism was successful in improving price convergence and increasing liquidity between the two zones. It underlines the value of the close and lasting collaboration between GRTgaz and Powernext. It will continue until the merger of the French zones foreseen in 2018.”
GRTgaz is one of Europe’s leading natural gas transmission companies and a world expert in gas grids and transmission systems. In France, GRTgaz owns and operates 32,320 km of underground pipeline and 27 compressor stations to transmit gas between suppliers and customers (distribution companies or industrial firms directly connected to the transmission system). GRTgaz performs a public service role by guaranteeing security of supply for consumers. It also sells transmission services to system users. As a major player in the energy transition process, GRTgaz is investing in innovative solutions to adapt its system and reconcile competitiveness, security of supply and environmental protection. For more information : www.grtgaz.com
PEGAS is the central gas trading platform of EEX Group operated by Powernext. PEGAS provides its members with access to all products on one single platform and allows them to trade natural gas contracts in the Belgian, Dutch, French, German, Italian and UK market areas. PEGAS has announced that the Austrian and Danish delivery zones will join its platform in the course of 2016. The product range of PEGAS covers spot and derivatives contracts for the major European gas hubs as well as trading in location spread products between these market areas. This setup enables market harmonisation and forms the preferred pan-European natural gas market. For more information: www.pegas-trading.com