Powernext confirms its role in the Gas industry:
With the start of a new industrial company on Powernext Gas, the second among its 28 members, the Exchange confirms its role as a facilitator of direct access to the wholesale market and to all active counterparties on the organised market, both on the spot and on the futures contracts. These industrial companies already benefit from a simplified process with regards to getting a shipping license from the French ministry, and from specific access offers to the French PEGs (Gas Exchange Points) designed for them by GRTgaz.
“The start of a new industrial client on Powernext Gas shows the growing interest of industrial companies for the natural gas wholesale market. By offering different market access solutions to industrial clients, GRTgaz supports and accompanies this step forward. From now on, each industrial company can choose the solution which best fits its consumption profile in order to control its supply risk, and become a Powernext Gas member according to its optimization needs. GRTgaz’s offers, designed in close cooperation with market actors, facilitate the meeting point between the supply and demand of natural gas and encourage the growth of the wholesale gas market in France”, comments Benoît Pouzieux, Head of the Key Accounts Management Service at GRTgaz’s Sales Division.
The development of the liquidity increases the industrial clients’ interest to intervene directly on the wholesale market. The quality of the prices they find on the organised market and the guarantee of anonymity are also strong motivations for them to make the transition.
“Rhodia Energy is the entity in the Rhodia Group in charge, among other missions, of managing natural gas purchases for the Group’s industrial sites. In November 2009, Rhodia was the first industrial company to become active on Powernext Gas Spot. This platform has become since then an efficient operational tool to manage the volume risks of the Group’s industrial sites. The constant development of the organised market’s liquidity since its launch has given Rhodia a greater flexibility in the management of its balancing needs”, says Cédric Froidefond, Rhodia’s Markets & Operations Director.
“The start of industrial companies on the organized market leads to an enrichment of the interests declared in the order book, and therefore benefits also all members. Powernext encourages it strongly to further develop the wholesale gas market”, adds Richard Katz, Powernext’s Sales and Communication Director.
Powernext SA, incorporated 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. 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.