Powernext, Central European Gas Hub (CEGH) and Power Exchange Central Europe (PXE) have successfully migrated the CEGH Czech Gas Market to the pan-European trading platform PEGAS, operated by Powernext.

It concludes the integration phase of the cooperation, as initially announced in September 2017. 


 
At 8:00am on Friday 8 December, all CZ VTP spot and futures contracts were available for trading on PEGAS. The migration includes the successful transfer of 17 PXE Gas Exchange members, including the addition of 4 new market participants to the Powernext membership.
 
David Kucera, CEO of Power Exchange Central Europe, says: “Cooperation with Powernext is another step in our common strategy to develop strong pan-European commodity market and it will certainly boost liquidity of Czech gas market.”


 
Gottfried Steiner, CEO of CEGH, adds: “The migration of the CEGH Czech Gas products to the PEGAS platform will further develop the Czech gas market and link the Central Eastern European gas markets closer together.”


 
Egbert Laege (pictured), President of Powernext, says: “The migration marks a significant milestone in the cooperation between Powernext and CEGH through their joint venture PEGAS CEGH Gas Exchange and their expert partner PXE. It enables PEGAS to widen its product offer and expand its geographical reach in Eastern Europe”.