The European Energy Exchange (EEX) has introduced the European Gas Index (EGIX). The new gas price index, which is based on all exchange trades concluded in the current front month contracts of the NCG and GASPOOL market areas on the derivatives market, will be calculated on each exchange day after market closure.

EGIX corresponds to the current market price for natural gas at all times, regardless of the development of the prices for natural gas substitutes, including oil or coal. Gas companies, which use the EGIX in gas contracts, will be able to hedge the contractual prices through exchange trading accordingly.

Click here for the release fromEEX.