Leipzig, Paris, 24 February 2015
On 1 April 2015, a common market area will be implemented in southern France under the name “Trading Region South” (TRS) replacing the existing GRTgaz PEG Sud and the TIGF market areas. PEGAS, the pan-European gas trading platform operated by Powernext, announces that Spot and Futures products will be tradable on the TRS market area from 31 March 2015, replacing the existing PEG Sud and PEG TIGF contracts which have been traded on Powernext since 26 November 2008.
Thierry Trouvé, CEO of gas transmission operator GRTgaz, mentions: “The establishment of TRS will increase the attractiveness of the French gas market. This is a first step towards the creation of a single wholesale gas market in France by 2018 as encouraged by the French Energy Regulator CRE”.
Monique Delamare, CEO of gas transmission and storage operator TIGF, adds: “The main aim of TRS is to simplify client access to the wholesale gas market in southern France, introducing a common price for the settlement of imbalances. As from 1 April 2015, shippers will no longer have to subscribe capacities to the interconnection of the two networks”.
“Powernext welcomes the TRS initiative, as a more liquid southern French area will help our Members to balance their portfolio in this region where volatility is comparatively much stronger than on PEG Nord due to its strong dependency on LNG imports and regularly congested connection with PEG Nord”, comments Jean-François Conil-Lacoste, CEO of Powernext.
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 and German market areas. 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 leading pan-European natural gas market.
About EEX Group:
EEX Group provides the central market platform for energy, energy related and commodity products and enables access to a network of over 350 trading participants. The offering of the group comprises contracts for Energy, Environmentals, Freight, Metals and Agriculturals listed at the European Energy Exchange, EPEX SPOT, Powernext, Cleartrade and Gaspoint Nordic. Clearing and settlement of transactions concluded or registered on the exchanges is provided by the central clearing house European Commodity Clearing. EEX is part of Deutsche Börse Group.
Powernext is a regulated market operating under AMF supervision. Powernext manages the natural gas activities of the EEX Group under the PEGAS brand throughout Europe, and operates the National Registry for electricity guarantees of origin in France. Powernext owns 50% in EPEX SPOT, 20% in EEX Power Derivatives and 1.5% in ECC.