PEGAS sets again a new high in 2017

PEGAS sets again a new high in 2017
PEGAS trading volumes in 2017

PEGAS, the pan-European gas trading platform operated by Powernext, achieved its best trading results in 2017 by reaching a new record with 1,977.8 TWh, improving its previous record (1,733.3 TWh in 2016) by 14%. The top volume was still observed on the Dutch TTF delivery area where over 1,223 TWh were traded across both spot and futures segments, along with the bigger growth percentage (14%). The Austrian CEGH VTP performed remarkably well in 2017 with 88.9 TWh, regularly achieving monthly volume records in its first full year on PEGAS.

Dr. Egbert Laege, President of Powernext, said: “We are pleased with the development of PEGAS in 2017. The volume increase is a clear signal of the value that PEGAS brings to the European gas markets and to the gas industry in general. The strong foundations on which our gas activities have been built will be helpful in 2018 as we will launch new projects to life following the requests of our members.”

Spot Markets

Spot trading volume in December amounted to 826.2 TWh, representing an increase of 25% over the previous year (643.5 TWh). The TTF market area in the Netherlands recorded 229.4 TWh, up 26% from last year (182.7 TWh). The German delivery zones NCG and GASPOOL registered a volume of 309.4 TWh, up 8% (2016: 286.2 TWh), including 92.0 TWh of quality specific gas products. The neighbouring French PEGs traded 159.3 TWh, up 16% (137.0 TWh in 2016). The Austrian CEGH VTP quickly rose to become one of the most constant PEGAS hubs, finishing the year with 68.4 TWh. The Danish market ETF also completed its first full year on PEGAS with a respectable spot volume of 17.0 TWh. The Belgian ZEE and ZTP delivery areas achieved 42.2 TWh in 2017. The Czech CZ VTP market migrated to the PEGAS platform on 8 December and traded 170 GWh up to the end of December.

Geographical spread transactions reached 50.7 TWh, while the German and French locational and hourly products totalled 13.6 TWh.

Derivatives Markets

In December, PEGAS derivatives reached 1,151.6 TWh, which represents an increase of 6% from 2016 (1,089.7 TWh). The TTF futures market gained 11% over last year by closing 2016 with 993.6 TWh (2016: 892.6 TWh). The trading volumes on NCG and GASPOOL delivery areas followed with 84.2 TWh in 2017. The Italian PSV delivery zone jumped 28% with 28.0 TWh (21.9 TWh in 2016). In France, the PEG Nord and TRS market areas reached 22.0 TWh in 2017. The CEGH VTP market area added 20.5 TWh to its PEGAS contribution. Finally, the new CZ VTP hub reached 459 GWh and the Danish ETF 401 GWh in 2017.

The volume of geographical spread transactions accounted for 44.0 TWh.


In 2017, PEGAS introduced trading for new markets and products which were important for its development.

On 24 January 2017, PEGAS successfully launched time spread products on its PEGAS Futures hubs (CEGH VTP, GASPOOL, NBP, NCG, PEG Nord, PSV, TTF and ZEE). Time spread transactions amounted to 60.9 TWh by the end of the year.

On 8 December, physically settled Spot and Futures contracts were launched on the Czech CZ VTP gas hub. The migration involved the successful transfer of all PXE (Power Exchange Central Europe) gas members to the Powernext membership which now includes 235 participants across 12 European markets.

PEGAS inftroduced the European Gas Spot Index (EGSI) on 5 September responding to the members’ needs, covering its liquid gas spot markets. Along with the launch of EGSI, PEGAS harmonised the use of existing indices for the futures market. Both the EGIX (European Gas Index) and the PEGAS Futures Monthly Index are now published equally for the liquid futures markets.

On 8 December, PEGAS Futures markets migrated from Trayport’s Global Vision to the T7 platform, thus improving the connectivity of financial institutions to PEGAS natural gas markets.

Details of the market results are available in the enclosed report.


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 and time spread products. This setup enables market harmonisation and forms the preferred pan-European natural gas market. For more information: www.powernext.com/pegas-trading

 

PEGAS – Annual Volume Report for 2017

 

Gas Spot Market

2017 Volumes
in MWh

2016 Volumes
in MWh

Total

826,226,174

643,532,650

CEGH VTP

68,432,929

2,631,970

CZ VTP

170,256

n/a

ETF

16,957,849

2,806,393

GASPOOL

103,552,683

79,904,941

NBP

400,248

197,501

NCG

205,883,555

206,314,580

PEG Nord

105,515,851

88,077,149

TRS

53,757,633

48,887,210

TTF

229,399,986

182,701,802

ZEE

3,009,674

890,441

ZTP

39,145,510

22,607,015

Locational Products. incl. Hourly Products

13,609,395

8,513,648

 

 

 

Gas Derivatives Market

2017 Volumes
in MWh

2016 Volumes
in MWh

Total

1,151,607,618

1,089,749,609

CEGH VTP

20,466,813

1,146,750

CZ VTP

459,321

n/a

ETF

400,540

334,800

GASPOOL

32,637,456

37,985,002

NBP

0

267,428

NCG

51,565,656

91,145,315

PEG Nord

20,156,887

40,996,050

PSV Physical

27,292,290

16,259,500

PSV Financial

722,380

5,646,480

TRS

1,890,289

2,146,320

TTF

993,642,863

892,596,564

ZEE

22,713

865,735

ZTP

2,350,410

359,665