PEGAS, the pan-European gas trading platform operated by Powernext, is to enable 24/7 trading for its spot spread contracts as of 22 September 2016.
The availability of spread products on a continuous basis completes the range of PEGAS spot contracts.
PEGAS currently offers location spread products between its Belgian, Dutch, French, German, Italian and UK market areas. All spread products will be tradeable 24/7 from then on, with the exception of ZEE/NBP.
A total volume of 15.9 TWh was traded for all spot spread contracts during the first half of 2016, which represents a growth of 11 per cent compared to the volume traded the previous year (14.3 TWh).
Egbert Laege, chief executive officer of Powernext, says: “This scheduled extension for spread products supports the trading and asset optimization strategies of PEGAS members, who wish to trade the price differences between the large and liquid hubs and their local hub. This creates an added value in particular for market areas which are less liquid.”
PEGAS will launch additional spread products in the near future, putting further emphasis on quality specific contracts. The launch dates for these contracts will be announced at a later stage.