Central European Gas Hub

Transcription

1 Central European Gas Hub 12 th CEGH Feedback Workshop Vienna, 30 June

2 12 th CEGH Feedback Workshop Agenda Welcome, Opening Words Update CEGH OTC Market Update CEGH Gas Exchange AT, CZ CEGH Powernext Cooperation PEGAS Presentation CEGH Powernext Cooperation in detail Feedback Session / Q&A Lunch 2

3 CEGH Historic development 3

4 CEGH Volume Development 2016: Overview OTC Market: 1 6* / 2016: TWh (y-t-d: -2.39%) Gas Exchange: 1 6* / 2016: TWh (y-t-d: -2,27%) *June 2016: Forecast 4

5 Relation between CEGH, Huberator, NCG, TTF and PSV 5

6 12 th CEGH Feedback Workshop Agenda Welcome, Opening Words Update CEGH OTC Market Update CEGH Gas Exchange AT, CZ CEGH Powernext Cooperation PEGAS Presentation CEGH Powernext Cooperation in detail Feedback Session / Q&A Lunch 6

7 CEGH OTC Market (Virtual Trading Point of Austria) 7

8 OTC Trading: Number of Registered Members Balance Group Resp. Parties 96 Virtual Traders 94 Registered Members 190 8

9 CEGH - Development of OTC Trading Diversity of Registered Members 9

10 OTC Trading: Daily Trading Volume since Jan

11 OTC Trading: Daily Churn Rate since

12 Continental European Gas Hubs Churn Rate since

13 OTC Trading: Daily Hub Nominations since Jan

14 OTC Trading: Daily Nominating Customers since Jan

15 CEGH Nomination Service Fully automated management of standardized nominations by CEGH - during off-office hours - after exchange trade execution of an customer order in the Within-Day gas exchange market Service coverage: Automated calculation of resulting imbalance after trade execution Automated timely re-nomination at the pre-defined re-nomination point (e.g. storage in the market area) Timely information on re-nomination to respective CEGH customer Full active participation in CEGH Within-Day market without limitations 15

16 EFET Hub Transparency Guidelines Measures of Liquidity Publication at CEGH Website 16

17 12 th CEGH Feedback Workshop Agenda Welcome, Opening Words Update CEGH OTC Market Update CEGH Gas Exchange AT, CZ CEGH Powernext Cooperation PEGAS Presentation CEGH Powernext Cooperation in detail Feedback Session / Q&A Lunch 17

18 CEGH Gas Exchange of Wiener Boerse 18

19 CEGH Gas Exchange: Yearly Trading Volume since 2010 TWh Trading volume single counted until Yearly Traded Volumes January to June Futures Market Spot Market

20 CEGH Gas Exchange: Monthly Trading Volume since January Trading volume single counted until Futures Market Within day Day ahead & Wkend 2.4 TWh

21 CEGH Gas Exchange: Monthly Futures Market Trading Volume since January Trading volume single counted until Futures Market All-time high: June TWh

22 CEGH Gas Exchange: Futures YTD Volume Development Trading volume single counted until ,3 % 22

23 CEGH Gas Exchange: DA and Futures Prices 23

24 CEGH Gas Exchange: CEGHIX vs. CEGHEDI 24

25 CEGH Gas Exchange: Total Members and per Market 25

26 Registered Members CEGH Gas Exchange 97 Trading Participants Spot Market 13 Clearing Participants 11 Clearing Participants Futures Market 38 Trading Participants 26

27 Registered Members CEGH Gas Exchange 55 Active members 42 Solely passive members 13 Clearing Participants 27

28 CEGH Czech Gas Exchange Market: Start 9 December 2013 Launch: Futures Market: 9 December 2013 Spot Market: 4 May 2015 *) incl. Forecast June

29 CEGH Czech Gas Exchange: Participants 29

30 12 th CEGH Feedback Workshop Agenda Welcome, Opening Words Update CEGH OTC Market Update CEGH Gas Exchange AT, CZ CEGH Powernext Cooperation PEGAS Presentation CEGH Powernext Cooperation in detail Feedback Session / Q&A Lunch 30

31 CEGH Powernext Cooperation Markets, Markets, Markets! 31

32 12 th CEGH Feedback Workshop Agenda Welcome, Opening Words Update CEGH OTC Market Update CEGH Gas Exchange AT, CZ CEGH Powernext Cooperation PEGAS Presentation CEGH Powernext Cooperation in detail Feedback Session / Q&A Lunch 32

33 CEGH workshop Vienna June 30 th 2016

34 History of Powernext & PEGAS Powernext Day- Ahead Powernext Futures Powernext Carbon Powernext Intraday Creation of EPEX (50/50 with EEX) Creation of EPD (80/20 with EEX) Clearing house switch to ECC Sale of Powernext Carbon : Bluenext Powernext gas (France) PEGAS Cooperation Powernext in charge of EEX Group gas activities under PEGAS brand EEX gas (Germany)

35 Our European gas ambition : toward the preferred gas platform Powernext s ambition is for PEGAS to become the preferred gas platform in Europe among all brokers and exchanges through: Unique customer focus Dedicated gas staff with strong expertise in gas market fundamentals Broad and innovative product offering Operational excellence (responsive, adaptive, fast) to deliver value to the customer Strong links with entire gas community (gas traders and gas trading firms, gas transmission system operators, regulators) Strong expertise in the financial community with the support of EEX 35

36 Powernext Powernext is a Regulated Market under the supervision of French financial authority (AMF) and Banque de France (ACPR) 51 employees + service agreement from EPEX Spot and EEX Powernext is also in charge : French National registry of Guarantees of Origin French National registry of Capacity Certificates IT services to gas TSOs (coupling, balancing and cushion gas auction to GRTgaz) and Storage operators (flexibility ) Market for Energy Saving Certificates Governance Powernext s Board of Directors is made up of members representing the shareholders. The Board of Directors determines the strategic orientation of Powernext activities and monitors their implementation. 36

37 PEGAS today PEGAS has now a wide product offering All key Westen European hubs Spot, Futures from hourly to Calendar All locational spreads 24/7 spot All hubs Well designed WD products sticking to the market needs Quality specific products : NCG, GPL, ZTP Locational products : GPL, PEG and NCG (30 th March) Hourly products (30 th March : TTF, NCG, NCG L, GPL, GPL, Elten, Vreden) TSO balancing : NCG, GPL, GRTgaz, TIGF, ongoing discussion with others ECC Central clearing with efficient cross-margining and nomination processes OTF Support (end of Q2) PEGAS is still missing key product features and hubs

38 PEGAS Membership Development 179 members as of June 21st Quotation / Liquidity providers 38

39 12 th CEGH Feedback Workshop Agenda Welcome, Opening Words Update CEGH OTC Market Update CEGH Gas Exchange AT, CZ CEGH Powernext Cooperation PEGAS Presentation CEGH Powernext Cooperation in Detail Feedback Session / Q&A Lunch 39

40 CEGH to join the PEGAS Platform Trading on a harmonized pan-european platform One admission at Powernext to trade AT together with NL, DE GP & NCG, UK, FR, IT & BEL Substantial decrease of technical fees Possibility to register shift traders Using of existing trading licenses at PEGAS to trade the PEGAS CEGH products Local customer support Locational spreads will be available between CEGH and other European hubs CEGH indices (CEGHIX, CEGHEDI etc.) will remain and will be published also in the future. 40

41 CEGH to join the PEGAS Platform All existing CEGH Gas Exchange products and specifications, in particular for the Balancing Market with the Within-Day Product, will be kept, but integrated in the PEGAS offering and harmonized with PEGAS specifications We will be able to offer new products from the launch date onwards: Locational Spreads PEGAS CEGH to TTF, NCG, GASPOOL and PSV PEGAS CEGH Day Ahead 24/7 The minimum trade size in the futures market will be reduced Straight Trough Processing (STP) service We are dedicated to develop further products for you. 41

42 CEGH to join the PEGAS Platform for our customers Signing of the PEGAS Transfer Form Signing the documents needed for admission at Powernext if you are not already member at Powernext. Trader exam is not required. Signing of a new or modified NCM agreement with ECC if Powernext is not already mentioned in it Signing of the new REMIT agreement if needed We will inform you once we have received all approvals. We are looking for the most convenient way for you to transfer your membership. 42

43 CEGH to join the PEGAS Platform Regulatory and Competition Approval of PEGAS CEGH cooperation Information from CEGH and PWX to all customers: s & Workshops Documents for the transfer to PEGAS platform will be sent to you CEGH and PWX will guide you through the process! 43

44 CEGH REMIT platform for insider information Publication Alert Search Calendar Selection CEGH Remit: Publication of Insider Information according to REMIT Art. 4 Free of charge for all market participants Registration for publication alert RSS feed abo Approved by Austria s Energy Regulator E-control 44

45 12 th CEGH Feedback Workshop Agenda Welcome, Opening Words Update CEGH OTC Market Update CEGH Gas Exchange AT, CZ CEGH Powernext Cooperation PEGAS Presentation CEGH Powernext Cooperation in detail Feedback Session / Q&A Lunch 45

46 Thank you very much for your attention 46