Central European Gas Hub - PDF Free Download

Central European Gas Hub 12 th CEGH Feedback Workshop Vienna, 30 June 2016 1 1

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

CEGH Historic development 3

CEGH Volume Development 2016: Overview OTC Market: 1 6* / 2016: 235.98 TWh (y-t-d: -2.39%) Gas Exchange: 1 6* / 2016: 13.95 TWh (y-t-d: -2,27%) *June 2016: Forecast 4

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

CEGH OTC Market (Virtual Trading Point of Austria) 7

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

CEGH - Development of OTC Trading Diversity of Registered Members 9

OTC Trading: Daily Trading Volume since Jan 2013 10

OTC Trading: Daily Churn Rate since 01.2013 11

Continental European Gas Hubs Churn Rate since 01.2013 12

OTC Trading: Daily Hub Nominations since Jan 2013 13

OTC Trading: Daily Nominating Customers since Jan 2013 14

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

EFET Hub Transparency Guidelines Measures of Liquidity Publication at CEGH Website www.cegh.at/cegh-market-statistics 16

CEGH Gas Exchange of Wiener Boerse 18

CEGH Gas Exchange: Yearly Trading Volume since 2010 TWh Trading volume single counted until 27.06.2016 30 25 20 15 10 Yearly Traded Volumes January to June 2016 5 0 2009 2010 2011 2012 2013 2014 2015 2016 Futures Market 0 52.080 525.150 296.910 301.170 2.317.190 3.510.900 1.964.750 Spot Market 8.640 1.061.160 2.016.290 2.761.020 12.917.736 18.944.252 22.964.499 11.882.691 19

CEGH Gas Exchange: Monthly Trading Volume since January 2014 3.6 3.2 2.8 Trading volume single counted until 27.06.2016 Futures Market Within day Day ahead & Wkend 2.4 TWh 2.0 1.6 1.2 0.8 0.4 0.0 01.2014 03.2014 05.2014 07.2014 09.2014 11.2014 01.2015 03.2015 05.2015 07.2015 09.2015 11.2015 01.2016 03.2016 05.2016 20

CEGH Gas Exchange: Monthly Futures Market Trading Volume since January 2014 0.8 Trading volume single counted until 27.06.2016 Futures Market All-time high: June 2016 0.6 TWh 0.4 0.2 0.0 21

CEGH Gas Exchange: Futures YTD Volume Development 2015-2016 Trading volume single counted until 27.06.2016 21,3 % 22

CEGH Gas Exchange: DA and Futures Prices 23

CEGH Gas Exchange: CEGHIX vs. CEGHEDI 24

CEGH Gas Exchange: Total Members and per Market 25

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

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

CEGH Czech Gas Exchange Market: Start 9 December 2013 Launch: Futures Market: 9 December 2013 Spot Market: 4 May 2015 *) incl. Forecast June 2016 28

CEGH Czech Gas Exchange: Participants 29

CEGH Powernext Cooperation Markets, Markets, Markets! 31

CEGH workshop Vienna June 30 th 2016

History of Powernext & PEGAS 2001 2004 2005 2007 2008 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 2007 2008 2013 2015 Powernext gas (France) PEGAS Cooperation Powernext in charge of EEX Group gas activities under PEGAS brand EEX gas (Germany)

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

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

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

PEGAS Membership Development 179 members as of June 21st 2016 17 Quotation / Liquidity providers 38

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

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

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

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

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

Thank you very much for your attention 46