PEGAS to introduce Spanish PVB products on June 18th 2019

PEGAS to introduce Spanish PVB products on June 18th 2019

Paris, 8 April 2019 - PEGAS, the pan-European gas trading platform operated by Powernext, will launch spot and futures contracts for the Spanish Virtual Balancing Point (PVB) on June 18th.
 
Both physical spot products (Within-Ahead, Day-Ahead and Week-End contracts) and physically delivered derivative contracts (Month, Quarter, Season and Calendar Year products) will be listed.

In addition, PEGAS market participants will have the possibility to trade geographical spread contracts with TTF and PEG. “There is an appetite from market participants active in Spain to trade more with other European markets. Trading PVB products with PEGAS will facilitate this, as our members benefit from an access to all our hubs and associated spreads in one screen," precises Richard Katz, Director of Sales at Powernext. 

The PEGAS PVB markets will be open for trading from 8.00am to 6:00pm CET. The spot segment will be running 7/7 to support members balancing their portfolios also during non business days. Both spot and futures products can be traded via the Trayport® Joule technology.

European Commodity Clearing (ECC), Powernext’s clearing house, will provide clearing and settlement of all Spanish contracts. This will allow members to benefit from cross-margining effects when trading other products offered by European Energy Exchange AG (EEX),  Powernext’s parent company. EEX indeed already offers power derivatives trading in Spain. “Gas-fired power plants have an important role for the local electricity generation. It is therefore of great value for our members that EEX Group now offers power and gas products in Spain," says Egbert Laege, President of Powernext.

In line with PEGAS’ objective to offer natural gas products for all major European hubs, Spain is the 10th country to join Powernext’s trading platform.

 

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 Austrian, Belgian, Czech, Danish, Dutch, French, German, Italian and UK market areas. The product range of PEGAS covers spot and derivatives contracts for the major European gas hubs as well as trading in location, time spread, and options products on the TTF hub. This setup enables market harmonisation and forms the preferred pan-European natural gas market. For more information: www.powernext.com/trading-pegas