Paris, 19 September 2016 – PEGAS, the pan-European gas trading platform operated by Powernext, will enable 24/7 trading for its spot spread contracts as of 22 September 2016. The availability of spread products on a continuous basis completes the range of PEGAS spot contracts and serves the needs expressed by members.
PEGAS currently offers location spread products between its Belgian, Dutch, French, German, Italian and UK market areas. All spread products will be tradeable 24/7 from then on, with the exception of ZEE/NBP. A total volume of 15.9 TWh was traded for all spot spread contracts during the first half of 2016, which represents a growth of 11% compared to the volume traded the previous year (14.3 TWh).
Egbert Laege, Chief Executive Officer of Powernext, comments: “This scheduled extension for spread products supports the trading and asset optimization strategies of PEGAS members, who wish to trade the price differences between the large and liquid hubs and their local hub. This creates an added value in particular for market areas which are less liquid.”
PEGAS will launch additional spread products in the near future, putting further emphasis on quality specific contracts. The launch dates for these contracts will be announced at a later stage.
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