Zeebrugge Gas-Index (ZIG)


Zeebrugge Index for Natural Gas (ZIG)

Aktuell 03. Mai 2011:


Zeebrugge Index for Natural Gas (ZIG)

Day-Ahead Baseload


No Index



 Schaubild zeigt Gaspreise im Januar 2008 



 1.) Aim.

To provide price indication for all trading of natural gas at the Zeebrugge hub for next day and weekend delivery.


Collection of all physical natural gas basis firm delivery traded daily at the Zeebrugge hub for next day delivery by all ZIG members up to 1830 CET.

3.) Calculation.

Index is a volume-weighted average of all trades collected quoted in euros per megawatt-hour. Calculation as follows:

Where: i = 1, 2, …, n = Number of Index Participants Pi = Price in EURO per megawatt-hour V i = volume in megawatt-hour.

ZIG is a calculation of two indexes;


  1. Day-ahead Base Index, for next day delivery Monday to Friday, 06.00-05.59 hours.


  1. Weekend Base Index, for delivery Saturday and or Sunday. Trades executed for delivery on U.K. public holidays, which fall on Fridays and or Mondays, also incorporated in to the Weekend Index.


Trades can only be submitted in the denomination quoted in the transactions.

 4.) Conversions.

       1GJ = 9.478170 therms

                = 0.2777778 MWh

1 therm = 0.1055056 GJ

              = 0.029307111 MWh

1 MWh = 34.121 therms

              = 3.6 GJ

(all conversions at 25°C unless otherwise stated)

1 therm (15°C) = 0.1053963 GJ (25°C)

1 therm (15°C) = 0.029276753 MWh (25°C)

5.) Conversion Calculations.

All trades will be converted by Dow Jones into EUR/MWh but Index also converted into pence/therm and EUR/GJ to form two other reference prices.

All exchange rates calculated using the European Central Bank daily fixing.

ECB reference rates based on regular daily concertation procedure between central banks within and outside the System of Central Banks, which normally takes place at 1415 ECB time. Reference exchange rates published both by electronic market information providers such as Dow Jones Newswires and on the ECB’s website shortly after the concertation procedure is completed.

6.) Publication.

Index published daily Monday to Friday between 1830 and 1930 CET by Dow Jones Newswires.

Weekend Index published Friday between 1830 and 1930 CET by Dow Jones Newswires.

Index results delivered to contributors via public Internet.

7.) Data Submission.

All trades sent daily to indexes@dowjones.com using the Dow Jones ZIG worksheet provided, no later than 1830 CET. (See format for daily submission).

All trades for next day delivery submitted on the working day prior to delivery.

Example (i.) Trades executed for Tuesday delivery submitted on Monday.

Day-ahead trades executed on Friday for Monday delivery submitted on Friday.

Weekend Trades.

Trades for Saturday and Sunday delivery submitted Friday on the same Dow Jones ZIG worksheet no later than 1830 CET.

Example (ii.) On Friday trades submitted for Saturday, Sunday and Monday delivery. One Weekend Index and one Day-ahead Index for Monday published.

8.) Holidays.

UK Holidays (Table 1).

When U.K. public holidays fall on Mondays, trades executed Friday, for Monday delivery, are incorporated into the Weekend Index.

In such circumstances a Day-ahead Index is calculated Friday for Tuesday delivery, so trades for Tuesday delivery must also be submitted.

When a U.K. public holiday falls on a Friday (i.e. Good Friday) those trades for delivery on that Friday will also be incorporated into the Weekend Index.

Example (i.) Trades submitted Thursday for Good Friday and Easter Monday delivery along with trades executed for delivery on Saturday and Easter Sunday form one Weekend Index. Trades submitted Thursday for Tuesday delivery form one Day-ahead Index.

When U.K. public holidays are not on Mondays or Fridays trades executed for delivery over the holiday period are to be submitted one day prior to that holiday period.

Example (ii.) Trades executed for delivery over Christmas Day and Boxing Day and the following day must be submitted on Christmas Eve. Three separate Day-ahead Indexes are published.

Gaspreise + Gaspreise + Gaspreise + Gaspreise + Gaspreise + Gaspreise + Gaspreise +

Über Rechtsanwalt Hanno Blatzheim

Rechtsanwalt Hanno Blatzheim ist seit 1997 (Magazin Focus) auf dem Spezialgebiet des Energierechts tätig. Er hat die Liberalisierung des Energiemarktes seit April 1998 von Beginn an begleitet und schon 1997 im Nachrichtenmagazin Focus und 1998 und 1999 im ZDF-Magazin Frontal auf erhebliche Missstände bei Stromtarifen und Stromabrechnungen hingewiesen. Laut ZDF-Magazin Frontal ist er einer der Experten in Deutschland. Er berät Energieverbraucher und Unternehmen in Deutschland und Europa in allen rechtlichen Fragen der Energieversorgung. Für Stromkosten. de und Energiekosten.de schreibt er exklusiv über aktuelle Themen und berichtet aus der anwaltlichen Praxis.