Today the European Energy Exchange AG (EEX) launches the European Gas Index (EGIX). This transparently established gas price index contributes to strengthening the importance of the price signal which the exchange sets for natural gas.
“With EGIX EEX is establishing reference price for the German natural gas market The new gas price index by EEX is based on all exchange trades concluded in the respectively The EGIX values will be calculated on each exchange day after markt closure and published For EEX the introduction of the gas price index constitutes an important step towards EEX publishes further information on the EGIX on its website at the following link: The European Energy Exchange (EEX) develops, operates and interlinks safe, liquid
which in addition will also have a high degree of influence on the Continental European
gas market“, explains Dr. Hans-Bernd Menzel, CEO of EEX AG, upon the presentation
of the new gas price index in Vienna. “EGIX corresponds to the current market price for
gas deliveries in the next month at all times. Therefore it is optimally suited in order to
gradually replace the gas prices based on gas substitutes such as oil or coal in gas
supply contracts.“
current front month contracts of the NCG and GASPOOL market areas on
the Derivatives Market. On the basis of these trading transactions EEX then calculates
a volume-weighted average price across all transactions on every exchange trading
day. The EGIX corresponds to the arithmetic mean across all daily values which are
established until that time and refer to the same front month. The daily values and the
monthly averages for the EGIX are established for the market areas NCG and
GASPOOL as well as for a virtual market area comprising Germany.
on the EEX website. Moreover, EEX will provide also historical EGIX values
since the gas year 2007/2008.
increasing the liquidity on the Derivatives Market of the exchange. In addition to this,
the exchange will implement further strategic measures aimed at strengthening the
EEX gas trading platform: For example, EEX will also offer Spot Market Trading with all
existing products for the Dutch TTF market area. Moreover the exchange will introduce
24/7 trading on the Spot Market for Natural Gas in the second quarter of 2011.
http://www.eex.com/en/EEX/Products%20%26%20Fees/Natural_Gas/EGIX_European
_Gas_Index
and transparent markets. EEX holds 50 percent of the shares in EPEX Spot SE, which
operates the Spot Market for Power for Germany, France, Austria and Switzerland. The
German and French Derivatives Market for Power is concentrated within EEX Power
Derivatives GmbH, a majority-owned subsidiary of EEX with registered offices in Leipzig.
Furthermore, EEX offers spot and derivatives trading in natural gas and CO2 emission
allowances as well as trading in financial coal futures. EEX Group also includes
European Commodity Clearing AG (ECC), the central clearing house for energy and
related products in Europe.
FTSE Mondo Visione Exchanges Index:
Launch Of The New EEX Gas Price Index
Date 27/01/2011