Paris, 10 February 2016 – Storengy, the gas underground storage facility developer and operator, and PEGAS, the pan-European gas trading platform operated by Powernext, announce the introduction of an intraday balancing service named BETSY (Balancing Enhanced in Transmission System for You) on 11 February 2016. Storengy will intervene on PEGAS Monday through Friday, between 3:30 and 4:00 PM CET.
For the first time, Storengy will directly intervene on an organised market by trading the Within-Day/Day-Ahead Spread on the PEGAS PEG Nord product whenever the market expresses the need for daily flexibility and if above a reserve price. This very short-term flexibility service complements Storengy’s storage capacity offer and aims to support shippers in their daily balancing needs in the scope of the gas balancing target model implementation. It will be open to all PEGAS Spot members active on the PEG Nord.
Nelly Nicoli, Valorisation and Optimisation Vice President of Storengy, declares: “The development of tools optimising the available flexibilities and the fact that we move to offer them to the market participants shows Storengy’s determination in making its balancing services more accessible to a greater number of clients. In light of this, Powernext is the natural partner as its trading platform PEGAS reaches an important portfolio of members throughout Europe.”
Richard Katz, Sales Director of Powernext, adds: “Powernext is constantly encouraging infrastructure operators to benefit from the developments of the European gas markets and is very glad to welcome Storengy as a new spot member with this innovative service.”
Storengy, an ENGIE company, has been developing and operating underground natural gas storage sites for more than 60 years. Its business is based on recognised expertise in the design and operation of complex industrial sites as well as rare subsurface expertise. With a capacity of 12.2 billion m³, Storengy is Europe's leading natural gas storage operator. The company currently operates 21 storage facilities across France, Germany and the United Kingdom and is also represented in Canada and China. For more information: www.storengy.com
Powernext is a regulated market operating under AMF supervision. Powernext manages the natural gas activities of the EEX Group under the PEGAS brand throughout Europe, and operates the National Registry for electricity guarantees of origin in France. For more information: www.powernext.com
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. 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