Powernext Gas Spot New volume record on 19th August

Powernext Gas Spot New volume record on 19th August

A new daily volume record was registered on 19th August 2011 on the Spot segment of Powernext Gas with 378,400 MWh traded; the last daily volume record reached 293,800 MWh on 17th June 2011. Powernext Gas Spot’s traded volume totalled 13 TWh between January and July 2011, compared to a volume of 5.90 TWh during the same period in 2010.  

“A new daily volume record reflects the efforts of Powernext and its partners to improve the attractiveness of the gas market in France; the launch of the PEG Sud / PEG Nord Spread products in May, followed by the launch of the market coupling initiative between GRTgaz’s two zones in July and the increased number of market participant are concrete examples of that effort”, comments Richard Katz, Sales and Communication Director of Powernext SA.   

The volume registered on Powernext Gas Futures between January and July 2011 amounted to 69.84 TWh, including 36.09 TWh from OTC Clearing. Powernext Gas Futures’ traded volume totalled 7.39 TWh during the same period in 2010, confirming the boost of liquidity on the French market.

In August, Powernext Gas welcomed ECONGAS GmbH and Verbund AG as its 40th and 41st trading members on Powernext Gas Spot, and 35th and 36th trading members on Powernext Gas Futures. 

About Powernext:

Powernext SA, founded in 2001, manages several complementary, transparent and anonymous energy markets: Powernext Gas Spot and Powernext Gas Futures were launched on November 26, 2008 in order to hedge volume and price risks for natural gas in France from Within-Day to the next three gas seasons. Since 1st December 2009, Powernext Gas Spot also allows the Transmission System Operator GRTgaz to progressively cover parts of its daily balancing needs on the market. Spread PEG Sud / PEG Nord products were launched on Powernext Gas Spot in May 2011. On 1st July 2011, GRTgaz and Powernext atrated the first gas market coupling initiative in Europe between GRTgaz’s PEGs Nord and Sud. An OTC Clearing service was launched in November 2010 to allow bilateral and OTC trades to be registered on the Exchange. EPEX Spot, based in Paris and owned equally by Powernext and by EEX, the German energy organized market, was  launched on January 1st 2009 and facilitates, 365 days a year, the hourly balancing of physical power delivered the following day on the French, German/Austrian and Swiss hubs. In April 2009, Powernext contributed the French power derivatives to EEX Power Derivatives, a company dedicated to European power derivatives, based in Leipzig, against a 20 percent equity stake in this company.

Share on :