PEGAS launched successfully

PEGAS launched successfully
EEX-Powernext gas cooperation now live

Leipzig, Paris, 29 May 2013 

The European Energy Exchange (EEX) and Powernext are pleased to announce the launch of PEGAS, the natural gas trading cooperation between EEX and Powernext. In the framework of the cooperation, the trading participants can trade both exchanges´ natural gas products on a common trading platform, the Trayport® Exchange Trading System (ETS). 

“The launch of PEGAS forms a big step towards an integrated European Natural Gas Market”, said Peter Reitz, Chief Executive Officer of EEX.

“The PEGAS cooperation is a response to the trading participants’ need for a consolidation among the trading platforms”, emphasises Jean-François Conil-Lacoste, Chief Executive Officer of Powernext.

From today, all Powernext Natural Gas Products (TTF Futures, PEG Nord Spot and Futures, PEG Sud Spot and PEG TIGF Spot) are tradable on the common PEGAS platform. All EEX products are also available for mapping and testing on the PEGAS server from 29 May onwards. EEX Natural Gas Products will be activated for trading in several stages, thereby guaranteeing a smooth migration of EEX Products to the new platform and giving trading participants sufficient time to prepare. EEX’s 10 MW Natural Gas Futures for the GASPOOL market area will be transferred to PEGAS on 4 June, and therefore spread trading between the market areas of GASPOOL and TTF will be possible for the first time.

Furthermore, the other EEX Natural Gas products (NCG Spot and Futures, GASPOOL Spot, TTF Spot and the related spread products) will migrate to the PEGAS platform within the next few weeks, subject to member readiness.

About PEGAS – Pan-European Gas Cooperation

PEGAS is a cooperation between the European Energy Exchange (EEX) and Powernext. In the framework of this cooperation, both companies combine their natural gas market activities to create a pan-European gas offering. Members benefit from one common Trayport gas trading platform with access to all products offered on the exchanges: spot and derivatives products for the German, French and Dutch market areas. Furthermore, spread products between these market areas are tradable on the same trading platform.

About EEX:

The European Energy Exchange (EEX) develops, operates and connects secure, liquid and transparent markets for energy and related products on which power, natural gas, CO2 emission allowances and coal are traded. Clearing and settlement of all trading transactions are provided by the clearing house European Commodity Clearing AG (ECC). EEX is a member of Eurex Group.

About Powernext: 

Powernext SA manages complementary, transparent and anonymous energy markets. Powernext Gas Spot and Powernext Gas Futures were launched on 26 November 2008 in order to hedge volume and price risks for natural gas in France and the Netherlands. In 2011, GRTgaz and Powernext launched the first gas market coupling initiative in Europe between PEGs Nord and Sud. Powernext owns 50% in EPEX SPOT and 20% in EEX Power Derivatives.

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