Paris, 15 February 2017. Powernext has announced that TIGF, the French natural gas system and storage operator, will extend the operating schedule of market-based balancing operations on the Trading Region South hub via the PEGAS platform as of 15 February 2017. TIGF’s interventions on PEGAS previously took place on weekdays only.
In order to cope with the latest regulations on balancing, TIGF has decided to extend its operations on PEGAS TRS Within-Day contract 7 days a week. To limit operational risks, as well as organisational costs and constraints, TIGF decided to perform its interventions through a system of automatic algorithms. A strictly regulated and non-predictive mechanism, as well as auditable reports to regulatory authorities ensure the complete transparency of the process.
Jean-Loup Minebois, Director of Sales and Development of TIGF, declares: “We wanted to use state-of-art tools for our balancing operations and took this opportunity while working on the extension of our trading hours. We are extremely satisfied with the growth of the liquidity on the products operated by PEGAS in the TRS market area and believe that these new measures will contribute to its further development, and improve price formation in this zone, especially during the weekends which were, so far, not very liquid.”
Richard Katz, Director of Sales of Powernext, adds: “PEGAS is the reference platform used by European TSOs for their balancing needs. With the help of our members, we strive to develop the liquidity in our market areas. We are pleased that TIGF is extending the range of its interventions to non-business hours and remain committed to offer customised market-based tools to infrastructure operators, to the benefit of the physical market.”
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 Austrian, Belgian, Danish, 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