The European gas and electricity trading market is about to undergo major reforms, and the trading period will be extended to align relevant contracts with other global energy product trading times. The Intercontinental Exchange stated in two independent statements issued on January 7 that, on the premise of completing the relevant regulatory and governance processes, the trading hours for gas and electricity contracts between the UK and the EU will be adjusted to 22 hours per day starting February 23. After the Russia-Ukraine conflict broke out in 2022, traders poured into the European energy market one after another, and gas prices once soared to historic highs. This adjustment will further consolidate Europe's position as a high-liquidity energy trading hub, and bring the region's gas and electricity contract trading schedule into line with mainstream international energy trading markets such as the Japan-Korea benchmark natural gas contract and the US Port Henry gas contract. The Intercontinental Exchange said that it had already consulted traders before making the decision to adjust the transaction length. In the next few weeks, it will also communicate with exchange members and customers about the plan to extend the transaction time and confirm the official effective date of the adjustment in due course.

The European gas and electricity trading market is about to undergo major reforms, and the trading period will be extended to align relevant contracts with other global energy product trading times. The Intercontinental Exchange stated in two independent statements issued on January 7 that, on the premise of completing the relevant regulatory and governance processes, the trading hours for gas and electricity contracts between the UK and the EU will be adjusted to 22 hours per day starting February 23. After the Russia-Ukraine conflict broke out in 2022, traders poured into the European energy market one after another, and gas prices once soared to historic highs. This adjustment will further consolidate Europe's position as a high-liquidity energy trading hub, and bring the region's gas and electricity contract trading schedule into line with mainstream international energy trading markets such as the Japan-Korea benchmark natural gas contract and the US Port Henry gas contract. The Intercontinental Exchange said that it had already consulted traders before making the decision to adjust the transaction length. In the next few weeks, it will also communicate with exchange members and customers about the plan to extend the transaction time and confirm the official effective date of the adjustment in due course.