On Friday, 1 October, the European Energy Exchange (EEX) introduced its gas contracts on Trading Hub Europe (THE), the new nationwide German gas market area. A total of 5.5 TWh were traded the first day in both Spot and Futures markets.
The two gas market areas GASPOOL (GPL) and NetConnect Germany (NCG) merged into the new all-German market area Trading Hub Europe (THE) on 1 October 2021. EEX now offers both Financial Gas Futures (EGSI Futures) and Physical Gas Futures for the new THE market area. On the THE spot market, trading participants will additionally be able to trade 13 new zonal gas quality-specific products. These zonal products serve the need for balancing energy trading and congestion management in the new German market area.
EEX NCG VTP products have been renamed THE, in which trading now continues on the spot and futures market for the new Trading Hub Europe. In the meantime, all trades previously concluded at GASPOOL and NCG and to be delivered after the merger date are automatically executed in the THE market area.
Steffen Köhler, Chief Operating Officer at EEX, explains “We have been supporting the German gas zone merger since the very beginning in partnership with our customers. With more than 170 trading participants, EEX is the biggest trading platform for German gas. The new Trading Hub Europe represents a strategic milestone not only for us but also for the entire European gas trading community as it will result in further liquidity, increased competitiveness and stronger price reference.”
“THE does not only have the potential to become one of the most attractive and liquid gas trading hubs in Europe but also to drive the largest gas consumption and biggest gas storage reserves in the continent, benefitting from multiple interconnection points to important neighbouring markets. We are glad that the EEX team has intensively supported this merger and contributed to the close collaboration between stakeholders”, completes Torsten Frank, managing director at Trading Hub Europe.
The European Energy Exchange (EEX) is the leading energy exchange which builds secure, successful and sustainable commodity markets worldwide – together with its customers. As part of EEX Group, a group of companies serving international commodity markets, it offers contracts on Power, Natural Gas and Emission Allowances as well as Freight and Agricultural Products. EEX also provides registry services as well as auctions for Guarantees of Origin, on behalf of the French State. More information: www.eex.com
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