Powernext Gas: promising volumes on the first trading day on Powernext Gas

Powernext Gas: promising volumes on the first trading day on Powernext Gas
The launch of Powernext® Gas was greeted with success with a total volume of 892 350 MWh traded and 39 transactions. 23 transactions on the PEG Nord and PEG Sud were completed on Powernext® Gas Spot for a volume of 35 600 MWh, along with 16 transactions for a volume of 856 750 MWh on Powernext® Gas Futures.

The launch of Powernext® Gas was greeted with success with a total volume of 892 350 MWh traded and 39 transactions. 
 

23 transactions on the PEG Nord and PEG Sud were completed on Powernext® Gas Spot for a volume of 35 600 MWh, along with 16 transactions for a volume of 856 750 MWh on Powernext® Gas Futures. 
 

The first Powernext® Gas Spot DAP (Daily Average Price) reference was published on PEG Nord at 25.45 €/MWh for 27 November 2008, on a basis of a traded volume of 34 600 MWh corresponding to 16 trades on the PEG Nord Day-Ahead contract). The first Powernext® Gas Futures Monthly Index on the PEG Nord will be published on 30 December 2008 for the month of January 2009. 
 

“The support of all the actors, especially the 5 Quotation Providers, was remarkable during that first trading day. According to the preliminary feedback we received from our members, this new organised market meets a demand of transparency and anonymity. The financial security of these transactions guaranteed by the clearing house ECC, as well as the choice of Trayport’s GlobalVision as trading system, have also been some key factors to this success” comments Richard Katz, Powernext’s Sales & Communication Director.

About Powernext:
 

Powernext SA, created in July 2001, manages several complementary, transparent and anonymous energy markets : Powernext® Day-Ahead facilitates, 365 days a year, the hourly balancing of physical power delivered the following day on the French hub; Powernext® Futures provides electricity price risk hedging for a period ranging between one month and three years; Powernext-Balancing GRTgaz allows the Transmission System Operator GRTgaz to progressively cover its daily balancing needs through a market-based mechanism. Powernext® Carbon, the leading spot EUA market, was sold to NYSE Euronext in December 2007. In May 2008, Powernext and EEX, the Leipzig-based energy exchange, announced the cooperation of their spot and futures electricity market.

Share on :